“The concept mirrors the way many people already buy airtime, data or electricity – on a prepaid, pay-as-you-go basis – instead of committing to long-term contracts. In the same way, clients can now purchase funeral cover upfront for three,…
"In our claims data, heart attacks, strokes, and cancer are among the leading causes. And what's alarming is how often these conditions now appear in people in their 30s and 40s - not just later in life. This is why it's so important to go for…
“The inevitable result is an erosion in benefits, even though premiums are increasing, which means that members are faced with greater self-funding gaps, especially on lower benefit options due to co-payments, penalty fees, exclusions and shortfalls,"…
"The role of the financial adviser is being reimagined. Automation can quote a premium, but it can’t interpret human emotion or anticipate how life events ripple through a family’s finances. The adviser of 2026 is no longer a salesperson, they’re…
"Fraud not only harms the finances of medical schemes but also undermines affordability, reduces the scope for benefit enhancements, and erodes trust between members and their schemes," says Kevin Aron, Principal Officer at Medshield Medical…
“As South Africa’s urbanisation continues to grow, people are substituting fruits and vegetables for more fast food, sugary drinks, and processed meals which has a huge impact in increasing the risk of prostate cancer,” says Dr Avron Urison,…
“We remain positive about the medium outlook of the emerging and frontier markets where we operate and we are confident in achieving our through-the-cycle targets, as outlined at the Sanlam Capital Markets Day. We expect continued demand for…
“For many households, the cost of medical scheme membership consumes a significant portion of monthly disposable income - yet it remains a non-negotiable given the state of the public healthcare system,” says Martin Rimmer, CEO of Sirago Underwriting…
"Understanding what you are paying for is key to making the most of your medical scheme membership. Every month, a small portion of your medical scheme contribution goes toward broker fees, which is a regulated component of your premium designed…
"The future of healthcare financing in South Africa is defined by rising costs, rapid innovation, and shifting client demands. Brokers who remain agile by embracing technology, offering personalised solutions, and ensuring gap cover is integrated…
“Bringing medical health solutions into our AI Coach offering is an intuitive move towards helping our clients obtain optimal financial wellbeing. Ongoing research, as well as extensive interactions with Sanlam’s growing client base, has unearthed…
Besa Ruele, a member of the ASISA Life and Risk Board Committee, says the size of the insurance gap is staggering. To put it into context, Ruele points out that South Africa's insurance gap at the end of December 2024 was seven times bigger…
"We believe that in the case of critical illness cover, estimating an average cover per income earner distorts the reality of a highly uneven distribution. In our estimates, more than 85% of earners have no critical illness cover, while a small…
“South Africans are working in new and diverse ways, often juggling multiple income streams. In this evolving world of work, it’s common to find individuals working as freelancers, content creators, and virtual assistants. Research shows that…
Insurance Biz is a New Africa Busines News Services (NABNS) publication launched in 2013 to focus on the insurance industry, investments, financial planning, employee benefits etc. It remains a great resource of news for industry professionals, and for those who seek to learn about the financial sector developments.
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