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17 June 2022 Myra Knoesen

In the previous episodes (episode one to four) we saw over fifty insurance professionals take their shot at becoming The Insurance Apprentice 2022, in the rapid risk and write-off preliminary rounds, and here we are, down to twelve.

The contestants are introduced to new gruelling challenges, and from episodes five to nine they have to face head judge Simon Colman, Business Head of Digital and Financial Lines at SHA Risk Specialists, and our other resident judge, Nox Dlamini, Managing Director at XonRisk.

Every episode will then also have a guest judge from the sponsor company.

Meet the #Top12

In episode five to eight, we see the Top 12 complete the harder and more complicated tasks that will ultimately give us the winner of The Insurance Apprentice 2022, in episode nine. The Top 12 are:

  1. Christelle Odendaal (Hollard Insure)
  2. John Williams (Santam)
  3. Khathutshelo Matsheka (Old Mutual Insure)
  4. Langa Sigodi (Opulentia Financial Services)
  5. Lerato Thathe (Aon South Africa)
  6. Masechaba Mahaba (Sedgwick South Africa)
  7. Molatelo Matjeni (Auto & General)
  8. Nelisiwe Nyembe (Centrafin)
  9. Neo Thantsa (Santam)
  10. Priya Manillal (Santam)
  11. Simon Duvenage (Opperman & Associates cc)
  12. Wayne Moorcroft (Amicos Insurance Enterprises)

A hot topic in the industry

A hot topic in the industry, task five, sponsored Auto & General, sees Colman, Dlamini and guest judge Alex Terblanché, Executive Head of Business Insurance, VAPS and Distribution at Telesure Investment Holdings (TIH) present the task and issues at hand, in terms of Business Interruption cover for pandemics.

In this task, the contestants are employed at an insurer that insured a small share of the hospitality sector on a market-standard commercial insurance product. The insurer offered Business Interruption cover for pandemics and paid all valid Business Interruption claims to its existing book of customers, who had cover at the time when the first case of the virus was reported in the country. However, following the removal of pandemic cover by the company’s reinsurance treaties shortly afterwards, the contestant’s employer decided to remove the cover on all new and existing policies relating to COVID-19 and possible future pandemics under Business Interruption.  Competitors followed suit by removing such cover on all new and existing policies, so that no such cover was available in the market thereafter.

The insurer has recently been approached by a local industry body who represents 40% of the small to medium-sized hotel and bed and breakfast institutions in South Africa on a possible insurance solution for pandemic cover. The industry body argues that the availability of Business Interruption cover against the impact of pandemics is an absolute necessity for small-to-medium-sized business owners in the South African hospitality industry going forward. Without such cover available to them, entrepreneurs and established business owners might not have the appetite to further invest in industries that are heavily reliant on local and international tourism.

The executive team of the contestants’ insurer has tasked them to come up with a possible solution to address the immediate need of cover against future pandemics, aimed specifically at small-to-medium-sized businesses in the hospitality industry in South Africa.

They have been asked to do a presentation to the executive team on their proposals.

Did they get it?
Did the teams meet the mandate? And ultimately… who was eliminated?

Watch it here

We would like to thank Auto & General for sponsoring episode five of The Insurance Apprentice 2022.

To what it on YouTube click HERE
To watch it on the website click
 HERE
To watch it on Facebook, click HERE

Let us know who you think is most likely to be crowned The Insurance Apprentice 2022. Be sure to comment, like and share this episode. Be sure to tune in again, same time, same place, next week!


 

Prizes for the 2022 Season 

Winner

  • Lloyds of London: 1 year access to the Lloyd’s virtual mentorship platform; a GIBS short course to the value of R45 000 and a cash prize of R25 000
  • Tracker: R10 000 cash
  • Invuya Institute of Learning: R10 000 cash
  • Genasys: iPad
  • Paton Personnel: A Leadership Development Masterclass and Program boasting an analytical consultation and leadership toolkit session with a Leadership Mentor
  • AIG: Corporate photoshoot
  • Santam: A personalized hamper
  • IISA:  The Insurance Institute of South Africa (IISA) is sponsoring the winner’s conference fee to attend the African Insurance Exchange (AIE) conference taking place virtually and live, at Sun City in July 

Top 4

  • IISA: The Insurance Institute of South Africa (IISA) is sponsoring the #top4’s conference fee to attend the African Insurance Exchange (AIE) conference taking place virtually and live, at Sun City in July 

Top 6

  • Paton Personnel: A Leadership Development Program boasting an analytical consultation and leadership toolkit session with a Leadership Mentor, valued at R20 000
  • AIG: Corporate photoshoot
  • Santam: A personalized hamper 

Top 12

  • Paton Personnel: A Leadership Development Program boasting an analytical consultation and leadership toolkit session with a Leadership Mentor, valued at R5000.
  • AIG: Corporate photoshoot
  • Santam: A personalized hamper

THE CPD FACTOR

Earn Continuous Professional Development (CPD) for every episode you watch. Register on the FAnews portal (www.FAnews.co.za), read the article and answer eight questions.

Each episode will carry 0.5 CPD hours.


APPLY FOR 2023

TIA 2023 is open... enter, enter, enter!

If you are 35 or younger and have been working in the short-term insurance industry (any part of it) for four or more years, this is your chance. Take the step and apply... you have nothing to lose! Visit www.TheInsuranceApprentice.co.za for more information.


 

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