"Despite the total value of claims reducing from R11.79 billion (2021) to R9.1 billion, as a result of fewer COVID-19-related death claims, Severe Illness pay-outs rose by 16%, Disability by 38% and Income Protection by 6%. The reduction in…
"Our 2022 claim statistics data reveals interesting patterns which highlight the importance of cover for younger South Africans. For example, more than 70% of sickness income claims were from people younger than 45 years and there was a 6% increase…
"Many people don’t always consider what might happen should they no longer be around. Ultimately, they end up leaving loved ones in a position where they need to borrow money, which is far from ideal especially in a rising interest rate cycle,…
"The evolution of technology, however, has provided insurers with an opportunity to simplify the consumer journey. Hollard has embraced this evolution to develop a value proposition based on ease, simplicity, trust, affordability and transparency,"…
PwC South Africa says in its report, entitled, Trust and Leadership Through Transition, its insurance industry experts analysed the performance of Discovery Limited (Discovery), Liberty Holdings Limited (Liberty), Momentum Metropolitan Holdings…
"The significant reduction in COVID-19 related claims signals that the worst of the pandemic is over, however secondary effects of the pandemic have emerged in the form of chronic illnesses. The long-term effects of COVID-19 will take many years…
"There are now critical new factors that people need to consider when it comes to funeral planning during this load-shedding era," this is according to Lindi Monyane, Executive for Emerging Consumer Markets, Liberty Life.
"Sanlam's decision to democratize the English Premier League (EPL) is part of its philosophy of inclusivity and its purpose of empowering generations of Africans to live with confidence," says Karl Socikwa, Group Executive of Market Development…
“An estimated 42% of South Africans do have funeral plans. However, the amount to be paid out is unlikely to be enough to support your family for an extended period of time,” says Malose Mabye, Senior Manager Mass Market at Hollard Life Solutions.
The Competition Tribunal yesterday announced that it had unconditionally approved the proposed merger wherein Sanlam intends to acquire shareholding in AfroCentric, adding that in the post-merger, Sanlam will have sole control over the AfroCentric…
“Our recent appointees have over 80 years of collective experience across myriad leadership roles in multiple countries. They bring a gravitas and expertise that will help to steer our organisation’s future-fit strategy as we continue in this…
"While there is little we can do as individuals to solve the economic and environmental issues causing our daily challenges, partnering with a trusted and reliable insurer is an effective way of ensuring that you are not impacted, and that you…
"We are truly honoured to be recognised by a global programme such as Celent for the FNB Automated Funeral Claims Process. This award affirms the lengths to which FNB has gone to create industry-leading insurance solutions and processes that…
According to Liberty's Lead Specialist for Research & Insights, Zandile Makhoba, Liberty recorded a 17% rise in the number of life insurance policies taken up by clients earning around R1 million or more a year, since the pandemic.
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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