Most of the changes that companies are currently facing are driven by?

Technology and social media (61.25%)

The economic and political climates (30%)

Changing consumer demands (8.75%)

Do you think that the Singapore Central Provident Fund Model can be implemented in South Africa?

Yes, absolutely, what are we waiting for? (25.81%)

No, we have completely different challenges that we need to address (23.66%)

Why can we design our own model based on our own unique challenges (33.33%)

Forced preservation, in any form, will never work in South Africa (17.2%)

The Financial Sector Conduct Authority (FSCA) released a notice extending the CPD cycle for 2018 until 31 July 2019. What is your opinion on this?

I am relieved as it means that I have more time to catch up on those CPD hours and activities (26.13%)

Why should individuals be given more time when they had 12 months to comply (35.14%)

Instead of waiting for the last minute, I proactively implemented the necessary actions timeously and effectively (27.48%)

The regulator’s actions are questionable (11.26%)

84% of respondents to a recent industry survey agree that there will be a shift from product-focused innovation to business model innovation in insurance within the next five years. Is this a realistic time frame?

Yes, there needs to be a quick turnaround time when it comes to this. (78.46%)

No, more time is needed. (21.54%)

What has your experience of getting your CDP hours during this cycle been?

It was fairly easy. Platforms such as the FAnews helps the industry to comply with this necessary requirement. We need to professionalise the industry (72.52%)

It has been tough. Not sure why this was really neccessary... (5.41%)

I am still battling to get all my hours... not sure where to find time to do it (22.07%)

87% of respondents to a recent industry survey believe that shifting value-added services to the core of their business proposition would give insurers a much better chance of establishing platforms that would draw clients to their company. Do you agree?

Yes, the industry is increasingly becoming about risk management. (75.68%)

No, there should still be a strong focus on how insurers price their risk (premium calculation) over risk management. (24.32%)

With regards to the COFI Bill, do you believe lumping the health and finance sector in the same basket will sustain the financial sector?

Yes, it forms part of the FSCA’s mandate to protect and maintain the sustainability of the financial sector, and to legislate fairness and make it the law (31.74%)

No, the products are different therefore the health sector should not have to be subjected to similar conduct requirements (32.93%)

This will cause problems. More consultations should be conducted before the final version of the COFI Bill is sent to Parliament for promulgation (35.33%)

74% of respondents to a recent industry survey believe that differentiation in the insurance market will become more focused on risk management and prevention services than on the price of compensation-based insurance. Do you agree?

Yes (82.54%)

No (17.46%)

Speaking of change, on the innovative side, do you believe:

Change will happen faster in the next 10 years, then it did 10 years ago (63.24%)

Things have changed over the last few years. Nothing major will happen in the next few years (7.35%)

We have just begun to see change happening (29.41%)

Do you feel that the South African financial services industry is ready to use technology based advice models alongside adviser driven advice?

Yes (62.64%)

No (37.36%)