A journey of resilience, partnership, and progress
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Three years ago, we launched the Power5 initiative – a bold and focused response to the mounting pressures facing the Motor Insurance Industry. From the economic aftershocks of Covid-19 to the global ripple effects of the Russia-Ukraine conflict, to intensifying weather events like the 2022 KZN floods and the rise in high-value vehicle theft and lawlessness, our industry has been tested like never before. And who can forget the peak of load shedding when powerless intersections became hotspots for motor collisions?
Amidst these challenges, we set out with a clear goal: to restore our motor loss ratios to sustainable levels. Today, we’re proud to share that we’ve achieved a remarkable improvement of over 15%. This milestone is testament to the power of collaboration, focus, and shared purpose. To our Broker Partners, Regional Teams, Pricing, Product, Claims Operations, and Sales & Distribution – thank you. Your commitment has made this success possible!
We've achieved a remarkable improvement of over 15%. This milestone is testament to the power of collaboration, focus, and shared purpose.
Achieved through strategic collaboration
Driving our turnaround success
Our five strategic levers:
- Targeted premium rectifications
- Adjustments to motor excess structures
- Mandatory tracking devices for high-risk vehicles
- Strengthened internal claims cost control
- Renegotiated supplier contracts
As we enter the new financial year, our mission continues: to maintain sustainable motor loss ratios that deliver win-win-win solution for our customers, our brokers, and Hollard Insure.
Thank you for your continued partnership and we look forward to building on this momentum, together
Motor vehicle car hire optimisation
At Hollard, we are always looking for avenues to enhance customer service and formulate better ways to drive our operational processes.
Motor claims is a high-performance environment, hence optimal efficiency is critical when aiming to satisfy all economies of scale, service, quality assurance and cost management. We understand that appointing an assessor to inspect the vehicle swiftly is critical, providing our customer with peace of mind that their vehicle repair has been authorised, and a check-in date to commence repairs is confirmed with the motor body repairer.
However, what happens when the vehicle arrives at the repair facility? Does it immediately get channelled through the repair process workflow, or is it queued until other vehicles are completed, or remain unattended until the relevant parts to arrive? We would define a situation where our customer’s vehicle is idle and unattended as a service inefficiency and point of failure in the customer’s expectation journey.
To avoid these scenarios from playing out, we provide the following tips…
Drivable vehicles
- Approve rentals only when all repair parts have been confirmed available by the repairer.
- Schedule rentals Monday to Wednesday, as repairers ordinarily book new repairs early in the week.
- Avoid booking rentals just prior to a public holiday.
- Where parts are on back order and they are non-roadworthy components, consider requesting that the client collect the vehicle and book it again once the parts have arrived.
Other considerations:
Once the vehicle repair has been confirmed as completed, it is advisable that the customer collects the vehicle on the day of completion.