Whats inside

FANEWS and FANUUS - February 2020 edition

The Februry 2020 editions are out!

If you are a subscriber this should reach your post box soon and for those of you who complete your CPD hours via FAnews, you can now complete this edition, as well.

The magazines can be downloaded here.

Some of our interesting article include:

2020… The start of a new decade
The year 2020 marks the start of a new decade, bringing with it its own set of challenges and opportunities.

Connecting with the younger market
The average 25-year-old has a 96% chance of having a temporary injury or illness that will stop them from earning their income for at least two weeks sometime during their working career.

Behavioural economics… a game changer
Human nature is inconsistent. It fluctuates and baffles even the smartest analysts who often think they have people figured out.

The power of a handshake
Purchasing financial products online may not meet all consumer expectations because of complex, ambiguous and technical descriptions of the services and products.

Where there is no choice but to reduce cover
Where individuals are concerned, they are sometimes faced with situations where less money means some decisions are required.

It's all about the service…
The financial services industry prides itself on delivering quick and efficient banking. However, being a loyal client at a financial institution for 25 years did not even count.

PPRs in liability insurance contracts
The rights and duties of parties in liability insurance are not only important at claims stage, but significant throughout the entire contractual relationship.

Updates to the insurance regulatory framework
The Financial Sector Conduct Authority (FSCA) published various updates to the insurance regulatory framework. There are some of the interesting things on the regulatory horizon.

Complete certainty when it is needed most
One insurer has stepped up to this challenge to provide professional services and death benefits that specifically address the main financial concerns that clients have when it comes to leaving lasting legacies.

Align benefits closely to employees' real needs
Budgets are tighter than ever in the current economic climate. Group insurance benefits are a cost-effective way to provide insurance that meets employees' needs in the event of death, disability or critical illness.

Anticipate unprecedented types of claims
"The consequences of AI and ML designed solutions on the insurance industry will be significant. It will impact how we price, how we interpret and lobby legislators, and how we make our customers lives easier..."

Outsourcing… governance that's required
Outsourcing is, and will continue to be, a regulated function.

Risk trends and their interconnections
Risk now comes from more than just the traditional sources of risk.

Claims experience in the future
Advances in medical diagnosis and treatment will pose risks and/or opportunities for critical illness insurance.

Global bond investments getting riskier
While South Africans appear to be taking more funds offshore in the current gloomy investment conditions, they should invest with caution as developed market bonds are facing a rising chance of large losses.

Download the edition here.