Short-term insurance – the road ahead
02 February 2015
For the past few years, the short-term insurance industry has been impacted by surplus insurance capacity, low economic growth and consumer disposable income coming under pressure. Insurers have not been able to increase premiums at the rate at which claims costs have increased, as consumers are very price sensitive and the market is highly competitive. However, this is slowly changing, says Rikus Visser, CEO of PSG Insure.