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| SourceFORGE.net |
TenderSystem OS is released by ValueCard under the TenderSystem Public License at
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ValueCard TenderSystem is an Internet based procurement system for the replacement of personal lines and small commercial insurance claims. Launched in August 2002, it enables insurance companies and brokers to improve their loss ratio and client service.
This tried and tested technology leverages the age-old principle of supply and demand through formulated business procedures. This ensures that our clients settle claims at the best possible prices, at a lower administration and management cost, than any other method.
Unlike standard B2B procurement systems TenderSystem is interactive and therefore does not require merchants to update a catalogue on a daily basis. Merchants quote by e-mail, SMS or the Internet and receive purchase orders electronically.
Claimants receive a better service as claims are completed much quicker, currently within 3 business hours, which is the same time as cash-settlements and notified by SMS when a claim has been approved.
Click here to view TenderSystem benefits.
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Defrauding your insurer is a crime
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Fraud is a major problem in both short-term insurance and life assurance. Although most of the fraud is perpetrated by policyholders, it is not unknown for fraud to be perpetrated against policyholders (see “Unauthorised policies a trap for the unwary”, below).
And fraud also takes place with service providers, particularly in the short-term industry, when claims are processed.
Life assurance fraud has become so attractive that, increasingly, crime syndicates are also involved.
Perpetrating fraud is simply not worthwhile. Both the short-term insurance and life assurance industries are strengthening their forensic departments. The companies also increasingly share information where they suspect all is not well. This means there is an ever greater chance of fraudsters being caught.
Note: Written by Bruce Cameron
Personal Finance
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Sunday, September 18, 2011
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Your insurer owns your damaged goods
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The next time your insurer replaces or pays you out for damaged property, don’t dispose of or sell the damaged property until you’ve checked your policy – for it may no longer be yours.
Damaged property that your insurer replaces or for which you successfully claim is known as “salvage” and becomes the property of the insurer. Since the insurer is effectively absorbing the loss, it has rights to damaged property it has covered and can legally sell this property to defray costs.
“If you dispose of the salvage you’re preventing the insurer from exercising that option,” Gari Dombo, the managing director of Alexander Forbes Insurance, says.
Another reason salvaged goods are often required by insurers is to check that your claim is valid and that the cause of damage is covered in your policy. If you dispose of or abandon the damaged property before the insurer has been able to check it you may have your claim rejected, or be required to reimburse your insurer for the salvage, Dombo warns.
Note: Written by Angelique Arde
Personal Finance
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Sunday, September 18, 2011
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Fraudulent insurance claims on the rise
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WILLEM Smith, CEO of the direct short-term insurer iWYZE, tells a true story of a client who tried to claim insurance for a stolen vehicle he had never owned, but for which he had been paying premiums for six months.
When the insurer decided to investigate — as is standard procedure before a claim is processed — shocking facts emerged.
The client could not produce the sale agreement. Nor could he locate the ignition key of the "stolen" vehicle. He claimed to have misplaced the keys.
To cut a long story short, he admitted he had been caught out.
Note: Written by Sure Kamhunga
Business Day
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Wednesday, July 27, 2011
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Insurance fraud on rise as money gets tight
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Cash-strapped and desperate, many South Africans are reporting false hijackings, housebreakings and other theft claims in order to get rid of their monthly repayments and be paid out by insurance companies for the allegedly stolen goods.
Insurance investigators report that there has been an increase in the number of people staging housebreakings to make extra money from insurance policies or claiming their vehicles were hijacked or stolen because they could no longer afford them.
Note: Written by Bronwyn Gerretsen
Cape Argus
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Saturday, July 05, 2008
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ValueCard has moved offices
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After 6 years at our previous premises ValueCard has moved offices and our new contact details are as following:
Tel: (021) 852-5420
Fax: 086-680-1401 (unchanged)
Physical address:
10 Hole in the Wall
93 Main Road
co Main and Fagan Road
Somerset West
7130
Postal address:
PO Box 1250
Somerset West
7129
If you are in the area please stop by for a coffee and do not hesitate to contact us if you have any questions.
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Tuesday, April 01, 2008
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| Client Comments |
Just a quick note to thank you for the excellent service you are providing to us and our clients.
Much appreciated, working with you is a pleasure and we look forward to a long and rewarding relationship with ValueCard.
-- Diane Smith
LGI Risk Management
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| Past Articles |
| Thursday, January 31 |
| · | Insurers to get tough on crime (0) |
| Sunday, September 30 |
| · | ValueCard system upgrade (0) |
| Thursday, December 07 |
| · | BEE codes take effect early 2007 (0) |
| Friday, November 24 |
| · | Technology Top 100 (1) |
| Monday, August 21 |
| · | Nokia most stolen cellphone (0) |
| Monday, July 03 |
| · | Insurance tips that can save you many a headache (0) |
| Wednesday, April 05 |
| · | TenderSystem receives SourceForge.net Community Choice Awards Nomination (0) |
| Thursday, March 16 |
| · | You pay the price for lying (0) |
| Wednesday, March 01 |
| · | ValueCard upgrades TenderSystem (0) |
| Tuesday, February 14 |
| · | Not just a cost-reduction tool (0) |
| | Older articles |
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