OUTsurance

OUTsurance is a direct short-term insurance operation within the RMBH/FirstRand stable, a leading South African financial services group.

OUTsurance is the global pioneer of the new-generation OUTbonus, a concept unique within the short term insurance industry.

OUTsurance was the brainchild arising from research conducted for RMBH by René Otto, Willem Roos and Howard Aron in early 1997. Together, they developed the business plan that positioned OUTsurance as a "greenfields" alternative to the competitive South African short-term insurance market.

Launched in February 1998, OUTsurance soon captured the imagination of the public with its innovative approach that included a suite of products with a range of special features and benefits.

OUTsurance took the lead in transforming the negative perception of personal lines short-term insurance to a real value-for-money service to consumers.

The OUTsurance business model is simple and effective. The pillars of an actuarial rating and underwriting approach plus effective cost and claims management rest on the base of an efficient information technology platform. This supports the company's ability to implement superior risk management through unique and innovative product design.

Skilled people using sophisticated systems ensure that the company delivers on its promise - "you always get something out."

On 1 January 2000 OUTsurance merged with First National Insurance, a company within the same group. The merger formed part of the broader FirstRand bank assurance strategy and consolidated the group's short term insurance business. As a result OUTsurance became one of the leaders within the industry in offering House Owners Insurance cover to bond account holders.