The Changes We’ve Made Based on your Feedback
From yesterday onwards, anyone getting a new quote for coverage on their 4X4 or trailer will have noticed a couple of changes we’ve made to our underwriting criteria. Over the last 18 months or so …
From yesterday onwards, anyone getting a new quote for coverage on their 4X4 or trailer will have noticed a couple of changes we’ve made to our underwriting criteria.
Over the last 18 months or so we have taken a fair bit of feedback from customers and non-customers alike on our processes and we felt it was the right time to take some of this feedback and make significant changes to our processes. I’ll outline the two major changes below:
Timeframes for Driving and Claims Histories
It comes as no surprise that a driver or policyholders’ driving and claim history are two critical pieces of information in the process of setting a premium. There aren’t many insurers out there that don’t ask for this information and many will actually also check that information at the time of claim.
Up until yesterday, our timeframe for these checks was 5 years. So when you got a quote or processed a renewal with us, per the our underwriting criteria you were required to divulge any claims or license cancellations or suspension over the entire 5 year period.
What we heard from you guys when quoting and at the time of claim, was that 5 years was too long a period to try to remember something like a fine for speeding 10km/h over the speed limit. Yes, a driving history or demerit point check, or taking the time to actually think through your history we think will usually net the complete and factual response – but we went back to the drawing board and along with our underwriter, decided to move this timeframe to 3 years. This should be a much more reasonable timeframe to expect a new or existing customer to recall.
This change is live immediately for new business. For our existing customers, at renewal your requirement will change from 5 years to 3. Note that at renewal you are required per advice on your documents, to update any information that may have changed during the prior term. Please take note of that requirement and let us know anything you feel may be inaccurate on your policy.
Similar to the above, we’ve had people ask us why we don’t consider the type of off-roading or experience the driver may have touring off road. Those who have been following us from day one may recall we had these sorts of questions in the quoting system to start with – they were removed to streamline the process a little.
Well things have changed since then, and we have now implemented a few new questions to help us understand more about the way your fourby is being used. These questions range from the type of off-roading you may do, how often you do it and how long you’ve been doing it.
It’s important to note that despite the feedback – these criteria will not affect your premium at the moment; this is more about understanding how you all use your setups – so we appreciate your forthright and accurate responses.
So there you have it, we’ve done it before and we’ve done it again. We are proud to be able to interact with and listen to your feedback and thoughts and make our products what you want them to be.