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As digital disruption continues to change the game in the insurance industry, insurers are revising their business models in order to stay relevant with consumers. Mass customisation is just one way to achieve the desired outcome.
Fraud is one of the unfortunate realities that the South African insurance industry must deal with on a daily basis.
Legacy Underwriting Managers (LUM) has been providing custom-designed information technology and broker administration solutions to the short-term insurance industry since 2003 and has partnered with some of the biggest names in the South African insurance industry.
Artificial Intelligence (AI) has the ability to significantly enhance products, simplify processes and reduce costs in financial services, according to Ronald Richman, a South African actuary with a special interest in machine learning. He believes that investors and policyholders will increasingly choose financial products depending on the fintech savvy of the product providers.
If you had to hazard a guess, when do you reckon the COFI Bill will be signed into law?