INSURANCE ADMINISTRATION
Redisure insurance administration for peace of mind
The term, “insurance administration” refers to
the handling and processing of insurance claims. It also entails
underwriting and the compliance with insurance regulations.
Redisure takes care of all the insurance administration needed
to guarantee the speedy and accurate processing of policies
and claims. As a FAIS compliant financial service provider
we strive to be the best professional motor insurance broker
in South Africa.
What is FAIS?
FAIS stands for the Financial Advisory and Intermediary
Services Act (no. 37 of 2002), which was implemented in 2004.
Only FAIS registered FSPS licensed insurers can since then,
conduct business. The new Policy Holder Protection Rules passed
in 2004; state that any insurers can only deal with licensed
intermediaries. Redisure is fully compliant with all the regulations
from the FAIS Act.
FAIS ensures that financial service providers, insurance
administration companies, and brokers protect their clients.
Redisure does this by providing its clients with reliable
and suitable information, as well as guidance and instruction
to help clients make correct decisions with regard to insurance
related issues. Redisure is also committed to providing clients
with excellent and trusted results and solutions in compliance
with FAIS. The company interacts with clients in a transparent
manner with integrity and discipline. Redisure aims to be
proficient and professional in its duties as a leading motor
insurance service provider in South Africa.
FAIS objectives
FAIS is aimed at protecting clients who make use of financial
and insurance services and products of the registered service
providers, while also protecting the financial service providers
and intermediaries. South Africa previously had no official
scheme for regulating financial and broker services and therefore
no protection for clients. FAIS is thus a breakthrough for
both the client and service provider, as it provides clear
guidelines and regulations to govern the industry.
How do the Redisure clients benefit from FAIS?
To be FAIS compliant, Redisure determines the motor insurance
needs of all our clients by assisting our clients to make
informed choices through the provision of relevant and accurate
information. The company must ensure that the whole process
of insurance administration is done with the best interests
of our clients in mind.
Our consultants and brokers are accurately monitored through
regulated insurance administration procedures to ensure a
high standard of service delivery to you, the client. You
are assured that all the consultants are competent and able
to help you with all your questions and concerns.
How does Redisure fit in the financial services provider
category?
Redisure is a car insurance provider who doesn’t take
commission. The company provides complete Third Party insurance
as well as Third Party, Fire and Theft car insurance at an
excellent price because there is no brokering fee.
What makes Redisure so unique?
We save our clients money since we charge a flat fee for
the insurance administration that is far below normal commission
rates. Because we are brokers we represent the client and
as such look out for your interests.
Why do you need to insure your car?
When you insure your vehicle, you secure back-up for possible
disasters. Instead of having a huge sum to pay to replace
your vehicle or part of it, when it is stolen or damaged,
you pay small premiums for the length of the insurance period.
This provides you with control over unexpected disasters.
You place yourself, your family and other road users at risk
when you drive a vehicle that is not insured. Even if you
are an excellent driver, you have no control over other road
users and thus cannot say with certainty that you will never
get into an accident. If your car is not insured when the
unforeseen happens, you may have to pay an enormous amount
for liability and the replacement of your vehicle.
We furthermore stay in a country where car theft is a daily
occurrence. Not having insurance, means that you may not have
enough money to purchase a new vehicle in the event of your
car being stolen. For this and many other reasons you need
the advice, guidance, and insurance administration assistance
of Redisure to help you make the right insurance choices for
your specific requirements.
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