Investec Life Limited is a member of the Investec Group. It is a registered Long-Term Insurer and an authorised Financial Service Provider (No. 47702).
The aim of this policy is to give clear and concise rules when receiving complaints and the successful resolution thereof in terms of the Policyholder Protection Rules ensuring the fair treatment of all Policyholders and Beneficiaries.
Investec Life’s complaint processes and procedures are transparent, visible and accessible. The process to lodge a complaint is communicated to our clients in their policy documents and is available on our website www.investec.co.za/life.
A Complaints Officer has been appointed by Investec Life. The Complaints Officer is responsible for the approval and implementation of this policy.
Investec Life strives to provide fair service to its client and avoid complaints. Where a complaint arises, Investec Life views such complaints as an opportunity to engage with our clients, repair relationships and improve our process and service to clients.
Clients will not be charged for lodging complaints with Investec Life.
Investec Life values the support of our clients and place strong emphasis on maintaining a long-term relationship that is open, transparent and based on trust. In view of this, we have established an internal complaints’ resolution procedure for the handling of complaints, and we encourage clients to provide us with feedback.
4. Record keeping monitoring, and analysis of complaints
The Complaints Officer will keep a register and record of all complaints.
The register will record at least the following information on the complaint:
- Details of the complaint;
- Categorisation of the complaint;
- Progress made;
- Escalation and appeal of the complaint;
- Responsible person to deal with the complaint;
- Escalation to the Long-Term Insurance or FAIS ombudsman;
- Outcome (including compensation, where applicable);
- Date when a complaint has been resolved; and
- Whether the complaint is a reportable complaint in terms of legislation.
The record held will have all the relevant information of the complaint including all documentation related to the complaint
This information will be analysed to improve customer experience and to report to management and the relevant regulators.
5. Categorisation of complaints
Complaints will be categorised accordance with Treating Customers Fairly outcomes and will at least include the following:
- design of a policy or service (TCF outcome 2);
- information provided to policyholders (TCF outcome 3);
- advice (TCF outcome 4);
- policy performance (TCF outcome 5);
- service to policyholders (TCF outcome 5);
- policy accessibility, changes or switches (TCF outcome 6);
- complaints handling (TCF outcome 6);
- insurance risk claims, including non-payment of claims (TCF outcome 6);
- other complaints.
6. Communication with complainant
Investec Life provides policyholders with multiple ways to submit complaints, as follows:
- logging a complaint with the Complaints Officer or call centre on (011 291 3934);
- sending an email to the complaint mailbox at [email protected];
- logging a complaint with an adviser; or
- third parties .
If logged through the first, third and fourth options, the call centre or adviser is required to notify the Complaints Officer immediately via the complaints email.
Further, if a complaint is logged via call centre or adviser, Investec Life may request the client to submit the complaint in writing.
All communications with a complainant will be in plain and simple language.
2Third parties mean intermediaries and service providers;
The complainant is requested to provide the following information when lodging a complaint to enable Investec Life to assist with the complaint and reduce turnaround time:
- Name, surname and contact details;
- A complete description of the complaint;
- The name of the person who provided the financial service, if relevant;
- The date on which the event occurred;
- All documentation relating to the complaint; and
- Method of preferred communication.
Process followed upon receiving the complaint
- Acknowledge of the complaint within 2 business days which will include the following:
- Informing the client of the process including escalation process;
- Any additional information required;
- The person dealing with the complaint; and
The expected timelines.
- During the investigation
- The claimant will regularly be informed of the complaints progress; and
- Any additional information required.
- Outcome of the investigation
- The claimant will be informed of the determination within 2 business days after a determination is made;
- Reasons for the decline, if applicable;
- Options to appeal the outcome internally or to take the complaint to the relevant ombudsman; and
- The payment process, if relevant.
Where a client wishes to escalate a complaint, such a complaint will be assigned to the relevant manager for resolution. An escalation of a complaint relates to complaints about the complaints process.
Client can internally appeal a determination decision made. The appeal will be heard by the Complaint Appeal committee. The committee is constituted by representation from the complaints and compliance areas, management and other key persons.
9. Engagement with the ombud
Any complaint received from the ombudsman will be treated with the same respect and care as any other complaint.
Clients may refer a complaint at any time to the relevant Ombudsman.
The client may also refer a complaint not resolved to their satisfaction to the Ombudsman for the Long-term Insurance. The details are as follows:
If a complaint is related to financial advice, the matter to the Financial Advisory and Intermediary Services (FAIS) Ombudsman within 6 months of receiving a final response from Investec Life. The details are as follows: