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Ask most people which industries they think are the most innovative adopters of technology and it’ll be a long time before someone says insurance. It’s easy to understand why too. If the whole point of the industry is to reduce risk, why would it take a gamble on something unproven and potentially risky?
The continuous flow of warnings and reports in the media of cyber-attacks is seemingly not enough of a deterrent to humans to protect their online existence. Bottom line, we all hear that cybersecurity is on the rise, but until it happens to you, it belongs in the ‘head in the sand’ department.
Since the start of the pandemic, many businesses have shifted to remote work. Cybercriminals saw the opportunity to target businesses’ remote users leaving unprepared businesses vulnerable to cyberattacks. Phishing attacks have become one of the most prominent data security problems for a number of businesses in South Africa.
To say that the wealth management industry is undergoing significant transformation would be an understatement. The entire sector is grappling with how to conduct business in a post-pandemic world while respecting the consumer and financial adviser experience.
What can retirement funds do to improve client-adviser engagement during members’ employment years?