Whats inside

The October 2019 editions are out!

If you are a subscriber this should reach your post box soon and for those of you who complete your CPD hours via FAnews, you can now complete this edition, as well.

The magazines can be downloaded here.

Some of our interesting article include:

Through the client's eyes
Behavioural economics has helped us to understand that we are not actually the rational beings we like to think we are.

Loyalty is the driver for profitability
There is an old saying “if you want loyalty, get yourself a dog”. Obviously, a dog is not an alternative for insurance coverage.

Non-disclosure - a question of fairness
In the aftermath of last year’s much publicised Ganas case, the issue of non-disclosure has been top of mind for our industry.

Customer-centricity.. the new game in town
In today’s dynamic marketplace one of the challenges insurers face is the need to improve customer service, if they want to tackle the reduced profitability of products, the digital distribution, new competition, and the rise of savvier, more value-driven customers.

Liberty's unique way to reward clients
Liberty has designed a unique way to reward clients who actively engage in a positive and healthy lifestyle and can demonstrate this through wellness programmes that Liberty recognises.

A leader in disability cover for graduate professionals
To truly be a leader in the graduate professional market, a broad range of benefits needs to be available, to cover all the diverse needs of members.

A growing appetite for litigation
There are a number of factors that are driving increases in litigation in South Africa.

The fear of hedge funds
The South African hedge fund industry has been in existence for two decades now. However, for the
most part (due to regulation), these alternative investments were only accessible to institutional investors and high-net-worth individuals.

Why value investing works - in a single chart
Investors unfamiliar with our philosophy may, reasonably enough, be wondering why they should adopt a value approach to investing.

Be a part of the new industry normal
Life is a whirlwind for 32-year old Mark, but in a good kind of way. He and his wife have just had a baby, and as an estate agent in a tough property market, he needs to put in those extra hours, but it is paying off and he is doing well.

The cost of treating cancer
According to the findings of two large studies, published in The Lancet medical journal, a new global “epidemiological transition” between different types of chronic diseases has emerged. In fact, according to these studies’, cancer is now responsible for twice as many deaths as heart disease in affluent countries.

Reversing an ugly trend
The majority of complaints received by the Pension Funds Adjudicator involves Section 37C of the Pension Funds Act. This describes how death benefits should be distributed by the trustees of a pension fund when a member passes on.

Employee Benefits… an untapped opportunity
Along with some of the most successful leaders in business, most large organisations understand that critical to achieving a competitive industry edge is putting their employees first. Doug Conant, formerPresident and CEO of the Campbell Soup Company famously said, “To win in the marketplace you must first win in the workplace.”

Bound to NHI… whether you like it or not
Health Minister Zweli Mkhize recently made comments regarding the National Health Insurance
(NHI) system that raised some concerns.

And our ever propular Short term Feature articles include:

Business risks and assets have become largely intangible
Business interruption, from an insurance perspective, is defined as a period when the business cannot operate because of insured perils such as a storm, flood, fire or other events affecting the business.

Playing a dangerous game
Enduring an extended volatile economy and a license exiting the market, the trade credit insurance sector is under an immense amount of pressure.

A stormier world for marine insurers
The marine insurance industry, already soft from decades of product oversupply and underpricing, now finds itself in a pickle and it has no choice but to hike premiums substantially.

COID… a bad idea not to claim
It should be noted that not claiming from COID could expose the employer to massive liabilities.

Professional racers of growth
When an insurer considers a risk, the premium is generally largely influenced by the profession the insured is in.

Examining the application of reinstatement clauses
The reinstatement value conditions entitle the insured to the actual cost to replace the property with equivalent new property (subject to policy limits) if the work of replacement is commenced and carried out with reasonable dispatch.

Enjoy the read. Our next edition is November 2019

And as always, something extra from FAnews - A DIGIMAG
We asked the questions for you FAnews has published a DIGIMAG which has a special focus on Broker, UMA and insurer administration systems.

In this DIGIMAG, you as a broker, UMA or insurer can gauge a better understanding of some of the administration systems available in the market.

Here are some of the questions we have got answered for you:
• An overview of all the modules that a system offers to the target market.
• How much independence and control does your client have over the system?
• What portal functions does your system support?
• What self-service functionalities does your system allow?
• Which type of data extract tools are available?
• What continuous support and self-service tools does your client have access to?
• Can your system be integrated with third-party providers and their software?
• How do you keep up with compliance requirements?

Simply visit www.fanews.co.za and click on the DIGIMAG button to view or download the magazine.

If you have any burning issues you would like us to investigate and write about, please feel free to email editor@fanews.co.za.