Motor Insurance records highest dissatisfaction

Motor vehicle insurance has the highest dissatisfaction rate among clients, latest data from the Insurance Regulatory Authority (IRA) shows.

Complaints recorded for motor vehicle insurance policies were at 75 per cent.

Life insurance cover was at 20 per cent.

The complaints included delayed settlement of claims, declined claims, erroneous deductions and unsatisfactory claims settlement offers.

The study was emphatic that consumer protection remains a challenging task. The regulator said it is seeking to address both through the law and engagement with industry players.

The regulator’s data as at December 31, 2017 also showed that Xplico Insurance Company and Amaco, which mostly insure public service vehicles, recorded the highest complaints in 2017.

IRA said 56 per cent (1,190 cases) were resolved during the period under review. Xplico accounted for 202 cases while Africa Merchant Assurance Company (Amaco) had 148.


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