Who is PPS Insurance?
The Professional Provident Society Insurance Company, or PPS, was established in 1941 and is a large multidisciplinary group of graduate professionals. According to their website, they have over 290,000 members. PPS Insurance is an authorized financial service provider (according to their website), and offers financial solutions and insurance products to graduate professionals with a 4-year degree. As a company, PPS is not listed on a stock exchange, rather it belongs to its members. This means that the profits gained by PPS are mutually shared by those members who have qualifying PPS products. This is a new concept in the insurance market and an interesting one at that. According to their website, PPS Insurance’s mission is to create wealth, peace of mind and security for members during their working lives and in retirement. Since 2003, PPS has been under the CEO leadership of Mike Jackson.
News posted on the online Personal Finance website during the last week indicates a global swing towards mutual insurers and indicates individuals are tending to put their faith in mutual insurers, as opposed to companies with shareholders. In the article, they identify PPS Insurance as the largest mutual insurer in South Africa. According to PPS Insurance CEO, Mike Jackson, companies who operate on mutuality do not have to satisfy shareholders, resulting in an increased focus on addressing the needs of their members. In return, he continues, their members/customers remain loyal.
Where is PPS Insurance located?
PPS’s head office is located at 6 Anerley Road Parktown 2193. Their postal address is P.O. Box 1089 Houghton, 2041.
What services does PPS Insurance offer?
PPS Insurance offers a range of short and long term insurance products, including life insurance, disability insurance, business assurance, and student benefits. In terms of their car insurance and home insurance, PPS offers coverage for:
- household contents;
- motor vehicles;
- specified personal belongings;
- leisure vehicles;
- computer equipment;
- personal liability.
It’s important to remember that unique to PPS, their services and products are only available to graduate professionals with a 4-year degree.
Let’s take a closer look at their car insurance option.
If you are eligible and sign up with PPS for car insurance, you can receive the following benefits:
How user-friendly is the PPS Insurance website?
When you open the PPS Insurance website, there are words and minimal to no graphics, creating a very professional look. Even though there is a lot of wording, the website does not look overwhelming. The categories you would be interested in as a potential customer are clearly labeled across the top. Also, the website provides a detailed history of their company. However, when looking up information on products, such as car insurance, we found minimal information and they do not provide details of their coverage options, but rather only mention some of the benefits you would be eligible for. We spent a lot of time searching the website for information on how one would file a claim but were unsuccessful. Overall, the website initially looked professional and informative, but further navigating resulted in a feeling that we couldn’t quite find the information we would be looking for as a potential customer.
How are the customer reviews of PPS Insurance?
In reviewing hellopeter, PPS Insurance received a mere 44 reports over the past 12 months. This low number of reports can mean one of two things: either that they have few customers (and thus few reports), or only few of their customers have complaints/compliments about them. Of these 44 reports, only 25% of them were compliments. The remaining 75% were complaints. When looking at the nature of the complaints, they received a significantly high percentage of complaints relating to “billing/accounts.” This implies billing, accounts is one area of customer service in which PPS could improve. In PPS’s favor, they did provide a response to each report, either compliment or complaint, that was received. Perhaps this shows, at the very least, their desire to provide a satisfactory customer experience.
PPS Insurance is an insurance company for graduate professionals who have completed a 4-year degree. They operate based on mutuality and joint ownership. Having been in existence for over 70 years and claiming to have a membership around 290,000, the low number of reviews on hellopeter is a bit surprising and one can’t really be sure why this is. Is it because all their customers are happy? Or because they have a relatively small customer base (compared to the larger companies) or maybe some other reason? Perhaps this is because they only offer insurance for graduates and therefore have less insurees? Our tip of the day: if you are a professional who is eligible for PPS, reach out and network with others in your profession to find out how their experience with PPS Insurance was and don’t forget of course to compare online car insurance quotes (you can do this by filling in the above form).
- Free 24/7 roadside assistance;
- R5 million personal liability cover;
- Excess waiver – don’t pay any basic excess;
- Car hire – available should your vehicle be involved in an accident, theft, hijacking and the insurance is covering the damages;
- You can receive up to R15,000 coverage for loss of keys, locks, or remote control units.
Main subject: PPS Insurance
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