The role of the consumer in the creation of insurance products
Traditional insurers are under greater pressure today than ever before. Even before the pandemic, South African insurers were facing a whirlwind of claims, raising questions about the long-term viability of the industry. COVID-19 only exacerbated that, as did the unrest which rocked the country in July. Additionally, a slew of upstart insurtechs are coming for the traditional insurers’ lunch.