Explore the Category

Are South Africans ready to pay for financial advice?

20 November 2015 | General

• “Expect a major shake-up in the SA retail investment market.” • “Advisors will have to negotiate a fee for their advice with customers.” • “Industry’s attempt to increase disclosure have failed.”

Creating transparency within the broker channel for more effective risk assessment

19 November 2015 | General

Insurance brokers are a traditional part of the channel for the sale of short-term and life insurance products to customers. Typically, their financial advisors develop relationships with consumers and assist them with managing their insurance requirements. However, brokerages as a whole tend to manage a book of premiums and claims against those premiums at an aggregated level. This means that they act as an intermediary between the customer and the insurer or underwriter and often, the underwriter has little to no access to the individual details of those covered by the policies. This lack of visibility makes it difficult for underwriters to accurately assess risk around each customer, with the result that premiums cannot be tailored to the individual. Creating visibility within the broker channel by driving brokers to submit claims data to a centralised database is key to helping insurers manage risk to enable them to deliver more tailored and more cost effective services to a broader general market.

MiWay’s innovative portfolio now available to brokers

16 November 2015 | General

It is of utmost importance to be technologically innovative when it comes to the demanding world of the short-term insurance broker. With the extension of its insurance solutions to brokers, MiWay Insurance is providing access to perhaps the most innovative portfolio available in the market today and allowing intermediaries around the country to broaden service offerings to customers.

How to edge out competitors when competing for new business

09 November 2015 | General

Famous Formula One driver Ayrton Senna once said that being second is to be the first of the ones who lose. This quote epitomises the nature of the South African insurance industry where companies and brokers are increasingly competing against each other for a small pool of business.

quick poll

Question

If you had to hazard a guess, when do you reckon the COFI Bill will be signed into law?

Answer

2026, as promised 2027 looks more likely Impossible to say More consultation needed

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