Non-life / Short Term underwriting

New age of underwriting

As the insurance industry rapidly evolves, the integration of AI and data analytics is reshaping the underwriting landscape. The rise of data-powered underwriting offers significant opportunities to streamline routine tasks, enhance accuracy, and allow underwriters to focus on more complex cases. However, this transformation also highlights a critical skills gap within the underwriting workforce.

This Armageddon-like claims environment will cost you

Global insurers and reinsurers and the brokers that rep their innovative insurance solutions to clients worldwide must be having sleepless nights of late. You see, dear reader, the world is stumbling from one Armageddon-like catastrophe loss event to the next, leaving the insurance industry reeling. The evolving risk landscape requires agents, brokers and intermediaries to have tough conversations with clients about what is and what is not on cover.

Nimbler Insurtech start-ups are getting the jump on large traditional insurers

Products offered by South Africa’s non-life insurers are evolving to accommodate changing consumer behaviours in a digitally-focused world. Change is being driven by direct insurers and niche Insurtech start-ups who seem to have the ‘jump’ on traditional insurers in giving consumers exactly what they want. Recent developments present challenges to non-life insurance brokers who still ‘play’ in the personal lines space, especially those who do not offer digital solutions.

Why insurance claims on storm-damaged garden walls are often rejected?