Best insurance companies in South Africa

Insurance is very important; it protects us from most of the unforeseen life’s tragedies. It’s important to choose an insurance company that is best for our needs. There are different types of insurances, car insurance, home insurance, life insurance and even pet insurance. For this article we are going to focus on short term insurance in general.

The criteria for judging the best insurance company can be difficult. We have looked at the customer satisfaction index, which measures customer satisfaction with a company or product. The CSI for insurance companies looked at the following.

Customer expectations

Some customers expect more than what is written in their policy but some receive less than stated in their insurance policy. This criterion is meant to judge on whether the insurance company matched the customer expectations. Sometimes (rarely) insurance companies exceed customer expectations.

Perceived Quality

This is used to judge whether customers are receiving a high-quality experience. Most insurance companies do offer a high-quality experience, these are companies like OUTsurance, Old Mutual, Virseker and Santam.

Value for money

The economy of South Africa is not looking good at this moment, getting value for your money is very important. Customers bargain hard for prices and try to save every cent they can while getting a high-quality insurance cover. On this measure Discovery Insure, Auto & General and Santam score below the rest of the industry, with the quality of cover not living up to customer expectations.

The hassles and efforts that customers go through to when filing complaints or claims affects the overall value for money.

Here are the best short-term insurance companies according to the customer satisfaction index. The following companies were given an overall customer satisfaction score out of 100. The industry average is 80.

  1. Virseker: 83.2
  2. OUTsurance: 81.5
  3. Old Mutual: 81.2
  4. Santam: 79.7
  5. Hollard: 79.1
  6. Momentum: 78.8
  7. Auto & General: 78.4
  8. Discovery: 76.2


These are the best short-term insurance companies in the year 2020. Do you have any thoughts or questions?

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