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What’s inside… FAnews Magazine August 2021

16 August 2021 Rianet Whitehead

The August edition is packed with articles you want to read. We have over 19 200 registered CPD users, and with this mail we are reminding you to make sure you stay up to date with your CPD hours. We’ve touched on content and issues that are topical and relevant, and ultimately written for you, to empower you. The articles are written by industry experts and FAnews journalists, so if there’s a topic you would want to read more about, or have very specific issues or questions about, please don’t hesitate to raise it with us. Over and above our focus on life, disability, income protection and critical illness, we’ve touched on many relevant topics, ranging from business interruption, POPIA, retirement, a look at the recent riots and a fantastic women’s feature.

To make it easier for you, we have highlighted some articles we believe have good value, and we have marked those you can get your CPD hours on (IISA and FPI). The links will take you directly to the digital copy of the FAnews August 2021 edition.

CPD Articles

IISA
Twin peaks framework aces the civil commotion and pandemic tests. There has to be a collaborative and transparent approach to industry interactions.
Claims Corner: Full reservation of rights? It is after all necessary to safeguard everyone’s rights.
POPIA pandemic. Tick tock goes the POPIA clock!
Can business ethics enhance corporate governance? To answer this question, we must first unpack the definitions of corporate governance and business ethics.
The pandemic may strengthen cell captives. If managed properly, it’s a win-win scenario for insurers, cell owners and clients who can access relevant sustainable products.
The unimaginable imaginable risk. A shift in thinking will need to be adopted at all levels, from management, actuarial support, product development, underwriting, and claims handling.

FPI
Is there an improvement in member preservation? Retirement saving is a long-term process, and the first rule is to stay invested.
Disclosing information without consent. To what extent can medical practitioners share patient information with medical schemes without the patient’s consent?
POPIA pandemic. Tick tock goes the POPIA clock!
Money laundering. A growing problem.
Help members navigate divorce complexities. The stark reality is that just under half of the marriages in South Africa do not last 10 years...
Premium up in smoke. Risk insurers charge as much for vaping as smoking.

More valuable content…
In the news
Work-life balance… are we practicing what we preach?
Why it’s an amazing time to be an adviser and broker. Let us tell you why.
Power of the pack… In the company of women.

Profile
Hey Jude: A robo-adviser can’t wipe away a widows’ tears... but this app can.
Hollard launches Hollard Life Select. It’s simply what you need.
Unpacking Takaful Insurance, which was developed from the principles of Islam and are Shariah compliant.

Technology
Balancing technology and the adviser. It’s all about finding the perfect balance.
Artificial intelligence: myths versus reality. Let's share some of the myths about AI that you should be aware of, in order make better decisions about where to invest time, money, and resources.

Short term

The emerging role of brokers. Let's talk about some of the trends that brokers should be considering, as they position themselves for the future.
Does this scenario sound familiar? It’s all about the continuous journey to educate clients… 

Healthcare
Urbanisation and its impact on wellness. While it is unavoidable that people migrate to cities for work, it does have a negative effect on people’s health.
Women: back yourself and take control. It is now more important than ever for women to assert the power they have over their health.

Investments
How global cities could benefit from green dividends. We believe that many investors want their investments to make an impact. Let’s hear more about it…

Retirement
Retirement benefits… through the noise. Pension systems are all different but it's important that we compare, understand and learn from each other.

Life
COVID-19 job cuts hit SA women hardest. 58% of 2020 retrenchment cover claims were paid out to women…
Long COVID and the impact on insurance. Individuals experiencing long COVID may have their insurance application deferred for a month or longer for more serious cases to observe their symptoms.
Are life insurance products too complex? The intention behind product enhancements is not to complicate things for either financial advisers or clients…
The long-term ripple effect of neglect. The neglect of treatment for several illnesses, including chronic diseases, along with an extended lifetime, creates the perfect storm for potential financial ruin.
Is mental health really seen? The widespread emotional distress caused by this unprecedented period has dominated the globe...
Nowhere to hide. Your client’s medical records are ‘fair game’ for life insurers.
Are straightforward claims too complicated? The purpose of life insurance is to assist people in their time of need but the reality is that our industry still has far to go.
Out damned spot (of depression). Mention the word ‘depression’ in an insurance questionnaire or to a broker when applying for cover and the walls go up. Risk!!!
New era of cancer treatment comes at a cost. Immunotherapy is being heralded as new era for cancer treatment and is providing new hope to millions of cancer patients globally.

And don’t forget…
The Insurance Apprentice 2021. By now we have aired most of the episodes, which you can view on www.TheInsuranceApprentice.co.za and log in on www.FAnews.co.za/login to complete the questions for your CPD hours. One CPD hour per episode, except for episode three.
Income protection, critical illness and disability supplement. During August we will be sharing a supplement – digital only - on IP, CI and disability. The supplement will have CPD hours attached to it but also promises to cover most of the questions you are getting from clients on these topics. We have included COVID-19 issues too. Questions were compiled by advisers and have been answered by most insurers. Keep in an eye out for it, and if you want to make sure you don’t miss out, please feel free to drop me a mail so that I can personally send you a link ([email protected]).

Editor's thoughts:
This edition is packed with useful content, and I believe we can do CPD questions on a lot more of these articles, because it’s all about equipping you and empowering you to have better conversations with clients. With every edition I learn a few things and feedback from many of our readers agree with my sentiment. Enjoy the read, and as always, I will welcome any topic suggestions… my door is open.

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Added by Bernie September, 26 Aug 2021

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South Africa’s Financial Sector Conduct Authority (FSCA) has the power to raise revenues by issuing administrative penalties and fines against non-compliant financial services providers, with this money flowing back to the Treasury… Does this, in your view, create a regulatory / government conflict of interest?

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This month's headlines

Why it’s an amazing time to be an adviser and broker...
Power of the pack… In the company of women
POPIA pandemic - Tick tock goes the POPIA clock!
The unimaginable imaginable risk
How global cities could benefit from green dividends
Are life insurance products too complex?
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