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We summed up some case studies from the Ombudsman for Short Term Insurance’s (OSTI) briefcase, which we thought would be interesting for our readers.
The latest statistics from the South African Medical Research Council (SAMRC) show a clear surge in South Africa’s mortality experience through COVID-19. Analysts are now suggesting that actual deaths due to the disease are some 2.5 to 3 times higher than government’s official numbers. “Our death experience very closely tracked the national statistics and the national pattern reported to date,” says Reinier Van Gijsen, Head of Pricing at Sanlam Corporate. He was presenting on the impact of COVID-19 on group insurance at an In conversation with Sanlam Corporate event.
As a writer, I pride myself on meeting deadlines; but I am not innocent of one of the world’s costliest follies, procrastination. Defined as “the action of delaying or postponing something”, procrastination affects each of us differently.
South Africa’s long term insurance sector paid out R522.7 billion to policyholders and beneficiaries in claims and other benefits last year. The country’s life insurers lived up to the ‘value of insurance’ mantra by offering emergency premium relief to policyholders in addition to meeting death, disability, severe illness and income protection claims as they came due.
Do you think short-term insurance broking will survive the AI plus humanoid robotics age?