Premium collections… do they have the solution?

Premium collections… do they have the solution?

Having said goodbye to Kishan Vanmali following eliminations in task six, it was revealed that the remaining three contestants would have one more task to complete.

The task, sponsored by the FSCA (Financial Sector Conduct Authority), was to look at the future of the premium collection regulatory framework. With a tough task at hand, Judge Simon, Judge Kedi and guest Judge Caroline Da Silva, Division Executive of Regulatory Policy at the FSCA, pulled no punches when they revealed that this would make or break their chances of being the next Insurance Apprentice. This was an individual task for the remaining contestants, and they would have a tough time making a good impression on Caroline.

We would like to thank the FSCA for sponsoring the seventh episode of The Insurance Apprentice 2019.

The task at hand

The apprentices were asked to act as employees of the FSCA, tasked with looking at the future of premium collections and what needs to change around premium collection in the interests of the industry, the consumers and the institutions.

What regulations has the FSCA put in place that specifically deals with premium collection? What are the gaps that the FSCA needs to address when it comes to this? How will these changes impact the industry? What specific changes will we see, and will these changes improve the industry? These are just some of the questions that the apprentices had to tackle.

Most importantly, they had to make some recommendations as to any additional principles of their own that they thought the Registrar could consider when looking at the future of premium collections.

Earn CPD hours

Earn Continuing Professional Development (CPD) hours for every episode you watch. Each episode plus an article about the episode will carry 1 CPD hour. Simply:

1. Visit www.fanews.co.za;
2. Click on the CPD tab;
3. Register by filling in your personal details;
4. Confirm your log-in details via email once you have registered;
5. Log-in using your email and password;
6. Click on The Insurance Apprentice tab and go to the episode you wish to complete; read the article and
7. Answer the multiple-choice questions related to each episode listed and click submit.

The #Superfan competition
For every episode of The Insurance Apprentice, we have a question. Answer the SuperFan question, up to episode seven, to stand a chance to win R20 000, sponsored by Constantia Insurance. Simply visit www.theinsuranceapprentice.com and answer the question in the chat box bottom right of the screen.

Superfan question

Who was the guest judge in episode 7?

• Chris Potter
• Justin Keevy
• Caroline Da Silva

Announcing the winner

The three runners up have now done absolutely everything that they can. The only thing left to do is tally up the scores and reveal who will be the 2019 Insurance Apprentice winner, at the winner event that will be held on 26 March.

Episode eight (Announcement of the Winner) will broadcast on 2 April after the event via the FAnews and The Insurance Apprentice websites, YouTube and Facebook.