Complaints Policy

Complaint

“Complaint” means an expression of dissatisfaction by a complainant, relating to a product or service provided or offered by a financial institution, or to an agreement with the financial institution in respect of its products or services and indicating that –

a. The financial institution or its service provider has contravened or failed to comply with an agreement, a law, a rule, or a code of conduct that is binding on the financial institution or to which it subscribes.

b. The financial institution or its service provider’s maladministration or wilful or negligent action or failure to act, has caused the complainant harm, prejudice, distress or substantial inconvenience; or

c. The financial institution or its service provider has treated the complainant unfairly and regardless of whether such an expression of dissatisfaction is submitted together with or in relation to a customer query.

Complaints Register

Ibiliti Risk Solutions has a written complaints resolution policy and procedure of which all team members have intimate knowledge of. This policy clearly illustrates Ibiliti Underwriters commitment to complaint resolution. 

The complaints resolution policy and procedure must be transparent, thus ensuring that the client has full knowledge of the procedure for the resolution of their complaints. The client will have easy access to its complaints procedures at our office, postal, fax telephone or electronic helpdesk support. 

All complaints relating to Ibiliti Underwriters will be kept in the “Complaints Register” into which every complaint is entered, and must contain: 

  • Client name
  • When the complaint was received
  • Reason for complaint
  • How and when the complaint was resolved

Or, reasons why the complaint was not resolved and the management committee’s intended action

  • All correspondence of the complaint must be kept for 5 years
  • Records and reasons for non-compliance must also be kept

The Complaints Procedure consists of:

1. Written complaint needed: 

Immediately inform the client that the complaint must be lodged in writing and contain all relevant information and copies of relevant documentation.

2. Acknowledge within 24 hours: 

Ibiliti Risk Solutions must respond within 24 hours of acknowledging receipt of the written complaint.

3. Investigate facts: 

Upon receipt of the written complaint, the designated team members of Ibiliti Risk Solutions must immediately begin an investigation into the complaint and collect all the applicable facts necessary for them to assess the complaint objectively, considering the client, company, and team members involved.

4. Elevate if need be: 

All complaints of a routine nature are to be handled by the relevant team member dedicated to the process, if needed and the complaint is of a non-routine serious nature it must be elevated to the relevant personnel trained to deal with it.

5. Make a decision: 

Upon collection of the facts, the complaint must be assessed by the management committee and a decision is made as to the resolution, without undue delay.

6. Initiate procedures: 

Avoid the recurrence of similar problems by initiating necessary procedures at this point to eliminate or mitigate conflict.

7. Inform client: 

The client must be informed in writing of the proposed resolution.

8. Act on resolution: 

Upon agreement of this resolution from the client (must be received in writing), the resolution can then be acted upon.

9. Dissatisfied client: 

If the client is dissatisfied with the resolution, they must be informed in writing that they may contact the Ombud within 6 months at the following address: 

National Financial Ombud Scheme

Physical Address:

  • Johannesburg: 110 Oxford Road, Houghton Estate, Johannesburg, Gauteng, 2198
  • Cape Town: Claremont Central Building, 6th Floor, 6 Vineyard Road, Claremont, Cape Town, Western Cape, 7700

Email address: info@nfosa.co.za 

Tel: 0860 800 900 

FAIS Ombudsman 

Physical Address: 

  • Menlyn Central Office Building, 125 Dallas Avenue, Waterkloof Glen, Pretoria, 0010 

Postal Address: P.O. Box 41, Menlyn Park, 0063 

Email address: info@faisombud.co.za 

Tel: (012) 762 5000 or 086 066 3274 

Financial Sector Conduct Authority: 

Postal Address: P.O. Box 35655, Menlo Park, 0102 

Tel: 0800 20 37 22

10. Follow up:

The allocated team member must follow up on the complaint between one week and one month (situation dependent after resolution to ensure the resolution was carried out sufficiently and the client is no longer aggrieved.

11. Client redress:

In any case, where a complaint is resolved in favour of a client, Ibiliti Risk Solutions must ensure that a full and appropriate level of redress is offered to the client without any delay.

12. Record keeping of correspondence:

All correspondence of the complaint must be kept for 5 years. Records and reasons for non-compliance must also be kept.

Basic principles of systems and procedures

Ibiliti Risk Solutions must maintain an internal complaint resolution system and procedures based on the following: 

  1. Maintenance of a comprehensive complaints policy outlining Ibiliti Risk Solutions system, procedures, and commitment to an internal resolution of complaints (this must be compiled in written format and amendments made in writing).
  2. Transparency and visibility: ensuring that clients have full knowledge of the procedures for resolution of their complaints.
  3. Accessibility of facilities: ensuring the existence of easy access to such procedures at any office or branch of the provider open to clients, or through ancillary postal, fax, telephone or electronic helpdesk support; and
  4. Fairness – ensuring that a resolution of a complaint can, during and by means of the resolution process be affected which is fair to both clients and the provider and its team members.

Team member training in terms of Complaints

All team members who deal with complaints and management individuals who review these need to be sufficiently educated to fully understand the relevant acts in order to formulate resolutions to the relevant complaints and establish adequate procedures to avoid future occurrences.

Management committee needs to review the “Complaints Register” at monthly meetings and formulate procedures to ensure there are no further occurrences of issues that could give rise to additional complaints or that could otherwise be avoided.

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