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Disrupt or optimise – When to choose which approach to innovation

21 August 2017

Every 60 seconds, the world creates an average of 98 000 tweets, 695 000 Facebook updates, 11 million instant messages, 168 million emails and over 1,820 terabytes of data. The modern day business has to search through all of this to find trends to build products and services to respond to, so more and more, business analysis is moving away from the “disruptive innovation” fad and more into a balanced approach where business uses data and information to decide on whether to optimise the systems and models they already have, or to totally disrupt markets.

South Africa’s insurance industry needs accurate data

17 August 2017

Data has always played an important role when making informed decisions in the insurance industry. In the past, data was gathered through face-to-face interactions with clients. Brokers and insurers shaped their understanding of customer risk profiles based on a personal relationship. As the direct insurance market boomed, which pushed price and cost pressures up, the luxury of face time with clients became something that insurers and their intermediaries could no longer afford. This highlighted a clear need for critical risk-related insight, which can only be fulfilled by having clear, accurate customer data.

Early adopters will see the greatest profits

14 August 2017

Technology has advanced so much over the past five years that it is impacting almost every aspect of our life.

Technology: The new frontier for the insurance industry

03 August 2017

The insurance industry has been characterised as traditionalist and conservative - an industry that is slow to change with limited consumer reach. Technology innovations can thus be regarded as the new frontier for the insurance industry as these new developments are seen as a move-away from the historical and typical business models used by insurers to conduct their business.

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The strongest deterrent against FSP compliance missteps is or should be:

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A criminal conviction Debarment Fine or penalty Any of the above can work

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