There are increased calls for personalised insurance products. Can this be a reality in South Africa?

Yes. There is major scope in certain industry sectors. (82.95%)

No. Why fix something that isn’t broken? (0%)

We have already moved towards this trend. (17.05%)

Do you feel initiatives such as The Insurance Apprentice has a role to play in attracting industry skills?

Yes, definitely, no doubt. (57.58%)

Yes. But we need to bring it into schools. (21.21%)

No, This adds no value (21.21%)

Unsure of The Insurance Apprentice (0%)

There is a significant skills shortage in the industry. What is the best way to address this?

Start at school level by increasing financial literacy and focusing on the important role that insurance plays in society. (83.12%)

Aggressively target university students with flyers saying: The Insurance Industry Needs You! (1.3%)

Insurers should engage with students more offering promising students’ academic bursaries. (15.58%)

You client needs to cut costs. What is the first type of product that is likely to be dropped?

Short-Term Insurance, they will take their chances on the roads and with criminals. (10.66%)

Life Insurance, it’s a grudge purchase where they will never see the benefits. (17.21%)

Investments, retirement is far away, I’ll worry about it closer to the time. (72.13%)

Is there still a mindset in the industry that insurance is sold and not bought?

Yes, and this will always be the case. (34.38%)

No, there is improving demand in some sectors. (34.38%)

This is a deeply rooted problem that will be tough to resolve (31.25%)

What is your general view of the insurance industry?

It is thriving, never been better. (18.64%)

Challenging, regulation will complicate matters. (71.19%)

It’s been the same for some time now. No growth can be found. (10.17%)

Will the new amendments to the Medical Schemes Act (Regulation 8) regarding PMBs benefit the industry?

Yes (68.42%)

No (31.58%)

Outsurance recently had a bad day in court over non-disclosure (Jerrier v OUTsurance http://goo.gl/pmxo57). Is there a fine line in material non-disclosure or is it pretty clear cut?

Yes (61.9%)

No (38.1%)

97% of IFAs feel the FSB should do more to monitor unregulated scheme. The new view of “if it looks like a financial services product and smells like a financial services product, it will be regulated as a financial services product” will address this. Bu

Yes (84.21%)

No (15.79%)

Were the winners of the #FIAAwards2015 what you expected?

Yes (50%)

No (50%)