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The retention of skills and the industry’s inability to attract an influx of new skills is seen as one of the biggest challenges that the industry currently faces. But while the industry and its stakeholders spend a lot of time highlighting this as a challenge, what is being done to resolve it?
One of the major challenges that many international markets face is the fact that the younger generation is moving away from certain market sectors towards sectors which they feel will offer them more opportunities for personal and financial growth.
After spending a year establishing itself as one of South Africa’s fastest growing direct short-term insurers, King Price made a decision on 1 September to enhance its insurance model by expanding it to now also include the broker market. The main motivation behind this change is that the company saw significant value in what a broker can bring to the business and the constant demand from numerous brokers could no longer be ignored.
The name Li - Reas comes from Life Reassurance which came about when Lireas was incorporated in 1972 as a Holding Company for Hollandia Life Re. Lireas evolved into a strategic investment company for Hollandia and initially invested in investments that were not always in the insurance space.
If you had to hazard a guess, when do you reckon the COFI Bill will be signed into law?