Complaints Data Summary
Firm Name: FirstRand Bank Limited
Group: FirstRand Group
Other firms included in this report: None
Period covered in this report: 1st July 2016 to 31st December 2016
Brands/trading names covered: MotoNovo Finance
|Product Category||Number of complaints opened||Number of complaints closed||Complaints closed within 8 weeks (%)||Closed complaints upheld by firm (%)|
|General Insurance and pure protection||636||636||100%||8.1%|
|Decumulation, life and pensions|
|Credit Related||2353||2511||Not Applicable||56%|
To put the figures into context:
MotoNovo Finance manages over 400,000 existing Hire Purchase Agreements in relation to motor vehicles arranged through a large network of motor dealers and also advises on and arranges non-investment insurance products for our customers.
For every 1,000 insurance policies that were in force at the end of December 2016, we reported 3.23 complaints.
For every 1,000 finance policies that were in force at the end of December 2016, we reported 5.7 complaints.