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This inflation spike is going to hurt

06 July 2022

The surge in global inflation is going to have a big impact on local insurance brokers and insurers, who will soon be informing their best clients and policyholders that their short-term insurance premiums are going up 10% or more… “Rising inflation has a knock-on effect across the industry, from our customers, to brokers, to insurers and reinsurers, and every partner in our respective value chains,” said Soul Abraham, Chief Executive: Retail Insurance at Old Mutual Insure. He used the platform at the latest #InsureTalk event, the 23rd in the series, to inform stakeholders that the insurer’s 12-month rolling claims inflation was screaming along at 13-15% midway through 2022.

How will the fuel price increase impact consumers, savers, and retirees?

05 July 2022

Consumer prices in South Africa are rising at an alarming rate on account of the pandemic and the Russia-Ukraine war. These events have contributed to rising inflation impacting the pockets of South African consumers.

How insurance must evolve to keep up with new risks

04 July 2022

The youth of today live in a very different world, with its own unique risks, that now require a very different approach to insurance.

Even the digitally savvy need financial advice

24 June 2022

I love the digital world. In fact, part of my career has been built on it and in my current role, it is always part of my strategic thinking.

quick poll

Question

What do you believe will be the biggest challenge when the COFI framework is finally implemented?

Answer

The cost and complexity of relicensing Demonstrating customer outcomes through data and reporting Embedding a customer-first culture across the business Aligning existing compliance frameworks with COFI requirements

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