OUTsurance, headquartered at 1241 Embankment Road, Centurion, South Africa, is a leading insurance provider established in 1998 as a subsidiary of Rand Merchant Investment Holdings (RMI). Renowned for its innovative OUTbonus—paying 10% cashback after three claim-free years—it serves over 2 million clients across South Africa, Australia, Ireland, Namibia, and New Zealand. With a 2024 News24 Business Award for Short-Term Insurer of the Year, OUTsurance continues to disrupt the industry. This updated review builds on the March 2024 analysis, detailing 2025 enhancements, products, executives, advantages, disadvantages, and application processes in South Africa’s dynamic insurance market.
Overview of OUTsurance
OUTsurance began as a short-term insurer under RMB Holdings, acquiring First National Insurance in 2000, which solidified RMI’s majority stake (59.4%). It expanded internationally with OUTsurance Namibia (2006), Youi Australia (2008), Youi New Zealand, and OUTsurance Ireland (2024). The 2010 launch of OUTsurance Life added long-term insurance, including life and funeral cover. Listed on the Johannesburg Stock Exchange, OUTsurance employs over 7,000 staff and operates subsidiaries like MiWay, South Africa’s second-largest brand in its portfolio.
In 2025, OUTsurance introduces AI-driven claims processing, expanded pet insurance, and enhanced OUTbonus payouts, having disbursed R6.1 billion to 880,000+ clients since 1998. With operations in 18 countries and a 20% profit jump in 2024, OUTsurance remains a market leader.
Market Context for 2025
South Africa’s insurance sector thrives despite economic challenges, with the South African Reserve Bank’s repo rate at 7.5% (prime rate 11.0%) supporting consumer spending. The two-pot retirement system boosts disposable income, driving demand for flexible insurance. OUTsurance’s innovative products and digital platforms align with these trends, earning it top honors in the 2023 Star Readers’ Choice Awards and a strong competitive stance against Hollard and Sanlam.
Services Offered by OUTsurance
OUTsurance offers a wide range of personal, business, and specialty insurance products, emphasizing flexibility, fixed excesses, and cashback rewards. Below are the key offerings, updated for 2025.
Personal Insurance Offerings
Comprehensive Car Insurance
- Description: Covers accidents, theft, fire, and third-party claims, with fixed excess, 12-month guaranteed premiums, 24/7 roadside assistance, and OUTbonus (10% cashback after three claim-free years).
- Essential Car Insurance: For non-financed cars over 5 years, with lower premiums but similar benefits.
- 2025 Update: AI-driven risk assessments for personalized premiums.
- Ideal For: Vehicle owners seeking comprehensive or budget-friendly cover.
Home Contents Insurance
- Description: Protects valuables (appliances, furniture, decor) against theft, power surges, geyser bursts, and intentional damage.
- 2025 Update: Smart home device discounts for insured properties.
- Ideal For: Homeowners and renters safeguarding possessions.
Buildings Insurance
- Description: Covers home structures against fire, explosion, subsidence, leaking pipes, and natural disasters.
- 2025 Update: Faster claims via AI-powered damage assessments.
- Ideal For: Property owners protecting their homes.
Portable Possessions Insurance
- Description: Covers items like cellphones, cameras, and jewelry against loss or damage at home, work, or while traveling globally.
- 2025 Update: Expanded coverage for wearable tech (e.g., smartwatches).
- Ideal For: Individuals with valuable portable items.
Life Insurance
- Description: Covers death, disability, and critical illness (up to 40 conditions), with customizable plans.
- 2025 Update: Online health questionnaires for faster underwriting.
- Ideal For: Long-term financial planners.
Funeral Insurance
- Description: Covers funeral costs, including transportation, catering, marquees, tombstones, and after-tears support.
- 2025 Update: 48-hour claim payouts for eligible policies.
- Ideal For: Families planning affordable funerals.
Pet Insurance
- Description: Covers pet illnesses, accidents, and optional wellness expenses (e.g., vaccinations).
- 2025 Update: New Core Pet Insurance plan with dental add-ons.
- Ideal For: Pet owners seeking comprehensive care.
Business Insurance
Business Building Insurance
- Description: Protects business premises, fixtures, and fittings against accidental damage, power surges, subsidence, and malicious damage.
- 2025 Update: Digital policy management for SMEs.
- Ideal For: Businesses safeguarding physical assets.
Plant, Machinery, and Contents Insurance
- Description: Covers manufacturing equipment, computers, and office furniture against loss or damage.
- Ideal For: Businesses reliant on machinery or tech.
Money Insurance
- Description: Protects business cash against theft or damage.
- Ideal For: Cash-intensive businesses.
Business Interruption Insurance
- Description: Covers revenue losses from premise damage; optional supplier damage cover.
- Ideal For: Businesses vulnerable to operational disruptions.
Fleet Insurance
- Comprehensive Fleet Insurance: Covers fleet vehicles against theft, hijacking, and damage.
- Goods in Transit Insurance: Protects goods during transport (road, rail, air, post) against theft, fire, accidents, and derailment.
- 2025 Update: Telematics for fleet tracking and premium discounts.
- Ideal For: Logistics and transport companies.
Motor Traders Insurance
- External Insurance: Covers vehicle accidents off business premises (e.g., storms, theft).
- Internal Insurance: Covers customer vehicle damage on premises.
- Vehicle Stock Insurance: Protects motor vehicle stock against fire, weather, and impact damage.
- Ideal For: Dealerships and motor traders.
Engineering Insurance
- Machinery Breakdown Insurance: Covers mechanical, electrical, or electronic breakdowns due to faults, lack of skill, or explosions.
- Ideal For: Manufacturing and technical businesses.
Executives and Board (2025)
| Executives | Title | Tenure |
|---|---|---|
| Marthinus Visser | Chief Executive Officer | 12/2022–Present |
| Jan Hofmeyr | Chief Financial Officer | 12/2022–Present |
| Thato Legong | COO: Shared Services | 1/2023–Present |
| Carl Louw | Chief Marketing Officer | 5/2019–Present |
| Suren Naidoo | Chief People Officer | 2017–Present |
| Madelaine van der Merwe | Executive Assistant to CEO | 3/2025–Present |
| Board Members | Affiliation |
|---|---|
| Herman Lambertus Bosman | Chairman, RMB Holdings Ltd |
| Kubandiran Pillay | Lead Independent, OUTsurance Group Ltd |
| Jan Jonathan Durand | Remgro Ltd |
| ET Moabi | Independent |
| JA Teeger | Independent |
| JE van Heerden | Independent |
| MM Mahlare | Independent |
| RSM Ndlovu | Independent |
| SV Naidoo | Independent |
| A Kekana | Non-Executive |
Competitive Advantages
- OUTbonus Innovation: 10% cashback after three claim-free years, with R6.1 billion paid since 1998.
- Fixed Excesses: Predictable costs enhance transparency.
- Global Reach: Operations in 18 countries, serving 2 million+ clients.
- Awards: 2024 News24 Business Award, 2023 Star Readers’ Choice Awards, and Ask Afrika Icon Brands recognition.
- Digital Platforms: User-friendly app and online quoting streamline access.
- Social Impact: Pointsmen Project and Kwande Programme support communities.
Competitive Disadvantages
- Claim Delays: Complaints about slow processing, especially for third-party claims (e.g., 70+ days).
- Customer Service Issues: Inconsistent support, with overseas clients facing toll-free number access problems (2.1/5 Trustpilot score).
- Policy Rejections: Some users report unfair claim denials or being dropped as “serial claimers.”
- Premium Increases: Annual hikes (e.g., January 2025) frustrate loyal clients.
Comparison with Competitors
| Feature | OUTsurance | Hollard | Sanlam |
|---|---|---|---|
| Product Range | Car, home, life, business, pet | Car, home, life, pet, legal | Car, home, life, investments |
| Cashback | 10% OUTbonus (3 years claim-free) | 20% on life (5 years) | None |
| Funeral Cover | Includes catering, tombstones | Up to R100,000, airtime benefit | Up to R100,000, family cover |
| Global Presence | 18 countries | 18 countries | 14 countries |
| Customer Satisfaction | 2.1/5 (Trustpilot) | Moderate (no SAcsi score) | 79.7 (SAcsi 2021) |
| Digital Claims | AI-driven (2025) | Digital (2025) | Standard online |
How to Apply for OUTsurance Products
- Online: Visit https://www.outsurance.co.za/, select a product (e.g., car, home), and request a quote with ID, proof of residence, and asset details.
- OUTsurance App: Download from Google Play, Apple App Store, or Huawei AppGallery, register, and apply for policies or manage claims.
- Phone: Call 0800 600 400 for quotes or assisted applications.
- Requirements: South African ID, proof of residence, vehicle/property details (where applicable).
- Processing: Instant quotes online; policy approval within 1–3 days. Coverage starts upon payment.
- Support: Email feedback@out.co.za or call 0800 600 400.
Why Choose OUTsurance in 2025?
OUTsurance excels for:
- Innovation: OUTbonus and AI-driven claims set industry standards.
- Value: Fixed excesses, guaranteed premiums, and cashback save costs.
- Global Expertise: 18-country presence ensures robust underwriting.
- Community Impact: Supports traffic management and black-owned businesses via Kwande Programme.
- Recognition: Multiple 2023–2024 awards affirm quality.
Drawbacks like claim delays and service inconsistencies require careful consideration. Comparing with Hollard or Sanlam can help find the best fit.
Conclusion
OUTsurance remains a top-tier insurer in South Africa in 2025, serving over 2 million clients with innovative products like car, home, life, and pet insurance. The 2025 introduction of AI-driven claims, expanded pet cover, and enhanced OUTbonus payouts strengthens its appeal, backed by R6.1 billion in cashback since 1998. Despite challenges with claims and customer service, its competitive pricing, global reach, and award-winning service make it a compelling choice. Get a quote at https://www.outsurance.co.za/ or call 0800 600 400 to experience its “You Always Get Something Out” promise.
