It is estimated that about R3.6 trillion worth of policies covering life, severe illness, or income protection, lapsed in the first six months of 2023 as a result of the current economic hardships. In the article below, Reuben Oosthuysen, Customer…
"Medical scheme membership is sometimes deemed a grudge purchase, therefore it is imperative to understand the scheme you are on, the benefits you are entitled to, so you can get the most out it," says Gary Feldman, Executive Head of Healthcare…
"Considering factors such as the high rate of medical inflation, the issue of fiscal feasibility, long-term affordability and the complexities involved in administering a public healthcare system, what has been included in the NHI Bill will…
"Under the merger agreement, both the 1Life and Clientèle brands will continue to operate much the same as they have until now. We are not just merging two businesses; we are bringing together decades of industry expertise, trusted services,…
"We are excited to take a leap into new territories and explore the business of microinsurance. We have no doubt that, as with all past innovations and ventures that we have pioneered, our cell captive insurance solutions will make a positive…
We are leveraging automated underwriting tools that harness the power of machine learning to refine and constantly update our rules in line with real-life circumstances. In addition, we have also taken a decision to offer a deferred life underwriting…
"The risk premiums of employed graduates currently on our books are on average 14 times the initial monthly premium of the Graduate Student Package, presenting the immeasurable potential for advisers," says Deon Theunis, Head of Intermediary…
“Apart from being a traumatic illness from a health perspective, cancer can also be a financially crippling experience for the patient and their family. The financial burden associated with cancer includes medical fees, treatment, travel fees,…
"Funeral cover remains a cornerstone of our commitment to our customers. With this opportunity, current AIG funeral policyholders can rest assured that they will continue to enjoy financial protection and the peace of mind they rightfully deserve,"-…
"According to statistics quoted on CANSA’s website, the lifetime risk of developing breast cancer is one in 27 for South African women. With over 19 million women over the age of 15 in our country, this means that there are many living with…
"It would not be fair to judge this as a sign of increasing cases among younger women because this would need much more research, but what we at Liberty can say here is that it is likely a sign that more younger women are getting tested for…
“At this time of the year, we focus on how we deliver to our customers, from the policy holders to our partners as well as the agents and advisors. We also use this time to recognise our frontline staff, who are the public face of the company,…
"Hollard has always been an active supporter of innovative and disruptive insurance models and has a strong track record of investing in Insurtechs to keep ahead of industry trends while meeting consumers' real insurance needs. We particularly…
“According to Bidvest Life’s 2022 Claims Report, 54% of income protection claims lasted less than 30 days. This means that choosing a 30-day waiting period instead of a 7-day waiting period would cover you for less than half of the claim events…
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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