Payout delays at the Road Accident Fund inspire new insurance covers

FA NEWS: The recently launched RAF Top-UP fills a huge gap in the insurance market. Could you share a brief history?

RAF Top-Up is the brain child of Steve and Matt Slatter and is division of SSIB (PTY) Limited. The three companies involved in the partnership are RoadCover, Chartis and RAF Top-Up. There are many people who do not benefit from the indemnities offered by medical aids and the RAF. Limitations in each of these products can cost motor vehicle accident victims dearly. RAF Top-Up is not a replacement for the RAF or medical aids for the RAF. It is designed to assist the injured and their families during the time it takes for an RAF claim to be paid, including assisting the client to initialise the claim with assistance from RoadCover. Benifits paid under Raf Top Up are in addition to all other covers which might be available the victim. The monthly cost of R42.50 (5 seat car) begs the question, can vehicle owners/operators afford not to have this cover?

FA NEWS: Who is covered under this policy?

The beneficiaries covered under the policy are the un named occupants of the Insured vehicle at the time of an accident The policy is issued in the name of the vehicle owner or business manager… But the insured is the vehicle itself, uniquely identified by the vehicle registration. One owner may have multiple vehicles on a single policy. Vehicle changes are simply endorsed onto the policy as required Should a vehicle be sold the policyholder must inform RAF Top-up directly, or via their broker, as soon as is possible. The vehicle will be deleted on the same day! RAF Top-Up is suitable for private vehicles, (including school run & soccer moms), company vehicles, heavy long distance haulers and delivery vehicles as well as staff transport vehicles. The only vehicles excluded are public transport vehicles.

Example1: A family member was in a near fatal car accident, which left her severely injured and unable to work for an extended period. She has managed a nearly complete recovery since, but remains affected by the lengthy absence from work. Although the RAF paid out, there was a long period during which time her family had to support her.

Example 2: A driver employed by a "partner” company was involved in an accident while on duty. He was left disabled and unable to continue working. He has been left destitute while he waits for the RAF claim to settle. His employer has agreed to pay a monthly pension for previous services rendered. But this is a moral responsibility rather than a legal requirement...

People in similar situations need assistance during these trying times.

RAF Top-Up is designed to help these individuals and ensure that their families can function free from unnecessary financial hardship.

FA NEWS: Who is entitled to make a claim?

Any occupant in the car who that suffered an injury can claim, provided they were in the car legally and as long as the car was not overloaded at the time of the incident. The policy also pays out to the descendant of a deceased victim (for death and disablement) and to close relatives of the deceased in respect of funeral costs.

FA NEWS: Could you tell us more about your distribution channels – most importantly your proposed interaction with brokers?

Raf Top Up will be distributed by the existing Chartis Broker force (in addition to all other registered brokers) via Raf Top Up bespoke secure, internet based Policy administration system which is offered free to authorized users. The system allows users 24/7 access to issue, endorse and renew policies as required. The system is extremely user friendly and completely automated, handling policy issue, instant document delivery, premium collection and commission payments. Once the policy data is captured, no further input, save changes, is required.

In addition to the Broker distribution channel, Raf Top Up will be distributed by vehicle tracking companies, motor vehicle dealerships and direct market call centres.

FA NEWS: Could you tell us more about brokers accessing the product?

Only brokers can access the product at www.RafTopUp.co.za. All they need to do is download the agency form, complete it, and return it to our staff.

Our staff will load this data and supply the broker with "super user” access which - in addition to policy administration - allows the super user to add their own staff, each having their own unique access . Brokers may also upload their own logo as required.

FA NEWS: What is RoadCover and how do you assist victims of motor vehicle accidents?

RoadCover was established in 2001 to ensure that victims of motor accidents (wrongfully caused by a third party) have immediate access to an effective RAF claims management system at NO cost to themselves. We take care of the complicated process that an individual would go through when submitting a claim with the RAF as a result of being injured in a car accident by another negligent driver.

RoadCover offers a dedicated legal practitioner to assist each client with the formulation of their presentations against the RAF, in such a way that actual payouts are met 100%. A formidable multi-disciplinary team is in place to keep a firm grasp on individual cases.

RoadCover takes NO FEES from the RAF and is recognised by the fund as a company that would only prepare legitimate, fair and balanced claims. We boast a 100% success record with more than 5500 claims over the past decade.

There is help available for motor accident victims. A product such as RAF-Top Up assists clients while waiting for an RAF claim payout as well as "topping up” the difference between their actual incomes and the legislated maximum payouts in the Loss of Income and Loss of Support categories. RoadCover ensures that the claims process runs without a hitch!

Chartis is a leading global provider of insurance solutions. In South Africa, the company provides quality commercial and consumer insurance services, offering the widest range of insurance products to companies both large and small. This includes international or global

insurance programs for those companies who have expanded their operations beyond South Africa either into other parts of Africa or further afield.

On the consumer side Chartis South Africa provides a comprehensive range of Accident and Health insurances, as well as personal lines insurance products covering buildings, contents, motor and identity theft for households and individuals. Chartis is also the premier global provider of travel insurance solutions and the full range of travel insurance products are available for consumers in South Africa.