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The Stage
Up in smoke… Are we doing enough to mitigate fire risks?

I was going to dedicate today’s column to a recent RGA webinar on empathy; but disasters in the South African risk environment must take precedence. Over the past few days, we have seen online images of the devastating damage caused by fire to the University of Cape Town (UCT) campus and surrounding buildings. This fire came just days after a blaze forced the evacuation and temporary closure of the Charlotte Maxeke Academic Hospital in Johannesburg. As the smouldering embers cool, our attention turns to determining the causes of these fires and counting the financial cost that will be borne by the economy, the insurance industry and society. Questions will also be asked about the risk mitigation strategies in place at the affected sites.

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Straight Talk
Brokers be warned… Group risk premiums set for take-off

The latest statistics from the South African Medical Research Council (SAMRC) show a clear surge in South Africa’s mortality experience through COVID-19. Analysts are now suggesting that actual deaths due to the disease are some 2.5 to 3 times higher than government’s official numbers. “Our death experience very closely tracked the national statistics and the national pattern reported to date,” says Reinier Van Gijsen, Head of Pricing at Sanlam Corporate. He was presenting on the impact of COVID-19 on group insurance at an In conversation with Sanlam Corporate event.

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Featured story
Anxiety cost your clients R100 million in 2020

Ill-thought and ill-timed investment decisions taken to avoid the COVID-19 financial market correction have cost Momentum Investments’ clients more than R100 million between April and December 2020. A recent study by the asset manager concludes that behaviour-linked financial decisions caused the average investor to lose 6.5% of his or her portfolio value between March and September last year. It is now clearer than ever that investors destroy value by allowing their behavioural programming to undo sensible long-term investment strategies, selling out of equity positions that are meant to deliver returns over decades in response to market volatility that lasts, at most, a couple of quarters.

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latest quiz
Medical scheme cover… just what are clients looking for?
Medical scheme cover… just what are clients looking for?

The medical scheme environment is under pressure. Aside from downgrading, customers are complaining about their medical scheme cover, what is covered, what is not, the fees and out of pocket costs.

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Quick Polls

QUESTION

Financial behaviour experts suggest that today’s risk modelling methodologies ignore your client’s emotional ability / behavioural capacity. What are your thoughts on spicing up risk profiling tools to make allowance for your client’s financial behaviours

ANSWER

[a] Bring it on; my client’s make too many irrational financial decisions
[b] Existing risk profiling tools are adequate
[c] Risk profiling tools should be based on the model / rational client
[d] The perfect risk profiling tool is science fiction
fanews magazine
FAnews April 2021 Get the latest issue of FAnews

This month's headlines

Randsomware attacks... SA businesses' biggest risk
Know the difference - compliance vs ethics
Better business by virtue of Beethoven
The future of vaccines
Harmonisation of retirement funds
Call centres and the maze of auto-prompts
The next 18 to 24 months are going to be tough
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