FANews
FANews
The Stage
Clients are desperate for value

The very essence of the insurance industry is changing. We are seeing several signs that are indicating that this change is very encouraging. In the past, insurers developed products that covered a specific risk or need from the standpoint that the client is placed in the same financial position than what they were in before the loss occurred. However, 74% of respondents to a recent industry survey believe that future differentiation in the insurance market will become more focused on risk management and prevention services than on the price of compensation-based insurance.

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Straight Talk
The clear divide is all but gone

At the moment a grim picture of retirement saving is painted in the South African landscape. Many South Africans either do not have the funds to contribute to savings after their monthly budgets have been exhausted, or they feel that saving for retirement is just not that important.

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Featured story
Policyholder aggrieved with outcome

In a recent determination by the Financial Advisory and Intermediary Services Ombudsman (FAIS Ombud), the complainant, Mr. Jacobus Frederik Roux, lodged a complaint against the respondent, arising from a loss incurred.

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Quick Polls

QUESTION

With regards to the COFI Bill, do you believe lumping the health and finance sector in the same basket will sustain the financial sector?

ANSWER

Yes, it forms part of the FSCA’s mandate to protect and maintain the sustainability of the financial sector, and to legislate fairness and make it the law
No, the products are different therefore the health sector should not have to be subjected to similar conduct requirements
This will cause problems. More consultations should be conducted before the final version of the COFI Bill is sent to Parliament for promulgation
A E fanews magazine
FAnews April 2019 Get the latest issue of FAnews

This month's headlines

Differences aside… in the name of fairness
Advice… now more important than ever
COFI… is this a reason to be positive?
Cyber cover: One size does not fit all
The need for member education
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