You will be aware of the fact that the South African Insurance Association has implemented an Information Data Sharing System which will be managed by TransUnion ITC. We have agreed to participate in this system and therefore, in addition to the claims information that is already being shared (refer to Brokers’ Bulletin No. 109 dated 9 November 2001), we will shortly be sharing our underwriting information with the other participants on the system.
Effective from 1 December 2002, a clause will be added to our policy schedules that will obtain consent from our clients to share information on all domestic business. All the main players in the industry will be doing this and there therefore cannot be discrimination against any company in the market. The South African Insurance Association has and will be publishing further information in the media.
In view of the information sharing that will be taking place among insurers, we request that you include the attached clause on any policies or policy schedules that are issued on our behalf. We also request that you include the clause on any domestic insurance application forms that are used, as well as to make reference to the clause on all claim forms. This must be done with effect from 1 December this year.
We trust that you will see the potential for fraud reduction and other benefits to our mutual clients and that you will support the process of information sharing.
If you have any queries, please do not hesitate to contact your nearest SA Eagle office.
