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Dynamic brokers will be rewarded

26 February 2024

Non-life insurance loss events on the back of the COVID-19 pandemic, looting and rioting in parts of Gauteng and KwaZulu-Natal (KZN) in July 2021 and the flooding along the KZN coastline in April 2022 have forced local insurers and reinsurers to rethink the business of insurance. The catchphrase this writer has chosen to introduce today’s discussion is evolution or redundancy because refusing to evolve your financial or risk advice business is akin driving a late-1950s, Russia-manufactured T-55 battle tank into a 2024 drone battle.

Promising signs of softer insurance | reinsurance markets

05 February 2024

The hard market conditions that have dominated insurance and reinsurance premium negotiations over the past three- to five-years is showing signs of easing as we enter 2024, suggesting better times for local insurance brokers and risk managers as they seek to transfer risk.

Brokers at risk

15 January 2024

The ever-growing list of non-life insurance exclusions, and the inconsistent treatment of these exclusions by insurers, could introduce significant risk to brokers plying their trade in the commercial market. Law firm Webber Wentzel recently warned brokers to pay close attention to changes to policy wordings as insurers and reinsurers seek to limit their exposure to systemic-type risk events rooted in climate change, cybercrime and pandemic.

Clickbait headline triggers an unfair swipe at medical schemes

20 October 2023

You need only spend a few moments interacting with your medical scheme to appreciate why private healthcare costs tend to inflate well ahead of South Africa’s official consumer price index (CPI) inflation. This writer’s outcry over a recent 10-page-long hospital invoice was, for example, shot down by his scheme’s call centre personnel as “well within tolerance”. And more recently, a pre-op authorisation revealed how doctors and specialists view the current system, with a ‘2x or 3x?’ accidently scrawled across the page.

quick poll

Question

Do you think short-term insurance broking will survive the AI plus humanoid robotics age?

Answer

Human first always Not a chance Possibly maybe Yes, but reimagined

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SA retirement fund industry faces multi-component challenge

03 October 2023

Advisers, brokers should brace for a slow growth future

20 September 2023

Putting money and power over healthcare

21 June 2023

Did South Africa’s non-life brokers miss the grid failure exclusion shock?

06 May 2023

Compliance with the provisions of the Code

17 April 2023

Advisor firm consolidations and acquisitions

20 March 2023

What the FATF

28 February 2023

73% of global CEOs reckon the global economy has cracked

18 January 2023

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Talked About Features / Featured Story