As I write this final editorial for the year, I find myself reflecting on the year that has passed. Summing it up, I believe there is a sense of optimism compared to last year. We’re seeing positive economic signs, real steps to lift South Africa from the grey list, and, thankfully, no load-shedding schedules dictating our days. Yet, we cannot ignore other pressing challenges: the escalating water crisis due to neglected infrastructure, climate change, crime, and high unemployment rates. These issues are real and often overshadow the progress we’re making. There is still much to be done.
Turning to something exciting, The Insurance Apprentice is set to make its debut on television, and we are hopeful that this platform will bring the public closer to our industry.
Our mission is to inform and educate, and the thought and planning behind each task in the series aims to highlight the true value our industry brings. We hope this will spark conversations and help people understand why insurance plays such a crucial role in their daily lives. Join us in spreading the word - the first episode airs in June 2025, on the 19th at 7 p.m. on SABC 3. Don’t worry, we’ll remind you closer to the date!
As we wrap up 2024 with this issue, we hope FAnews has delivered content that has kept you informed and engaged. Your support and feedback are essential to us, and we are grateful for the insights you’ve shared. Remember, you can also earn Continuous Professional Development (CPD) hours on our website. Our goal is to keep you informed, intrigued, and prepared. Please continue to share your ideas and feedback - we truly enjoy hearing from you.
Wishing you a peaceful holiday season and a well-deserved break. Here’s to a new year filled with health, happiness, and success in 2025.
Below, we have highlighted some of the articles in the November edition. There are more, so be sure not to miss out on the ones we have not highlighted below.
CPD Articles
Short-term (IISA Approved)
Keep it simple, stupid (KISS) - Complex language stifles access to financial products, services
Insurance brokers: the PI scapegoats
Understanding treaty reinsurance – and the factors that influence it
Innovating to improve extreme weather covers
AI takeover: revolutionising insurance for a competitive edge
AI is revolutionising insurance claims processing and fraud detection
In the news
Transparency is the key to good business
Protect your brokerage from disruption
Understanding clients’ comfort with financial risk
Great client support: balancing empathy and AI
Profile
iTOO Special Risks: navigating Africa's insurance landscape
Navigating change: Santam’s role in empowering brokers
Amplify: building resilience within the financial advisory profession
iTOO: pioneering Trade Credit Insurance in South Africa
ESC & Kaka: a legal practice redefining client relationships
Global Choices: softening the hard lines
INSETA and GIBS launch International Executive Development Programme
Short-term
Interesting Ombudsman cases
Key trends in short-term insurance this past year
The secrets to retaining profitable ‘good risk’ clients
Crypto assets
Crypto arbitrage: exploring the opportunities and risks
Investments
Check your clients’ vitals for financial health
Life
From underwriting to claims: AI’s impact on life insurance
Beyond the policy – building trust and transparency during the claims process
Healthcare
NHI: not a Holy Grail for medicine pricing
A look at Gap cover in SA’s healthcare industry
How medical schemes can innovate to attract Gen Z
Navigating the challenges of rising medical scheme costs in SA
The impact of non-traditional insurance players
Mitigating mental health issues through medical scheme plans
Medical schemes' average increases for 2025
Editor’s thoughts:
We believe we’ve achieved our goal of educating, informing, and keeping you up to date on everything that has happened and is happening in the insurance and financial services space throughout 2024. For us, this is more than just a job - it’s a passion, and we truly enjoy what we do, knowing that we’re making a difference. Our offer stands: let us know if there are issues you’d like us to tackle or topics you believe deserve more attention. We’re here to serve. Email me.
See you in 2025. Enjoy the read!
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