As an underwriting agency we do not assume any insurance risk ourselves and the revenues generated are based entirely on management fees and profit commissions.
We are one of the leading health insurance product providers in South Africa with over 150,000 Gap Cover (or similar) policy holders. We are founded on the principles of innovation and in providing the right product to the consumer. Our products are designed to protect the individual consumer who is a member of a Medical Scheme but is still at risk (often for tens of thousands of Rands) for unforeseen additional charges during a period of hospitalisation.
We believe that the individual consumer should select the medical aid benefit option that is most appropriate and purchase the Ambledown cover for such unforeseen events. We aim to provide products that are affordable and applicable to all medical scheme benefit options.
Our Ethics: It is our fundamental nature to avoid products that reside in the “grey” areas of the law, we do not look to exploit legal technicalities or find creative “loopholes”
Ambledown will not as a rule, create health insurance as a substitute for a medical scheme. We recognise that they undermine the general health risk pool and try to dissociate ourselves from this practice. Where we deal with consumers from various socio-economic groups that cannot afford membership of a medical scheme (given the onerous cost implications of prescribed minimum benefits), then we believe it appropriate to offer insurance products that provide at least a basic level of cover to the member.
We recognise that an otherwise innocuous range of insurance products can be packaged and marketed in such a way that they compete with medical schemes. By selectively targeting low risk lives, one can undermine the medical scheme risk pool. In this instance it is not the products per se, but the application of the product that is offensive.