"Numbers tell a stark story: where 89 mega gap claims totalling R6.2 million were paid in 2020, this figure rocketed to 549 claims worth R34 million in 2024. Perhaps most concerning is that claims exceeding R60,000 are now daily occurrences,"…
"For discerning executives, life insurance is a strategic tool for robust succession and continuity planning. In many successful organisations, key leaders are the driving force. A sudden absence can have significant repercussions if a strategic…
"What we're seeing is not necessarily a higher incidence of cancer in women, but rather a greater tendency among women to get tested earlier and more frequently than men. This has led to a higher volume of early-stage cancer claims among women,…
"For all clients, but especially for breadwinners, is imperative to lead with income protection that pays up to 100% of their insured income when they’re unable to earn due to injury or illness. This ensures they can still meet their monthly…
According to Jean van Niekerk, convenor of the ASISA Forensic Standing Committee, the R131.6 million lost to fraud and dishonesty represents around 0.02% of the honest claims paid in 2024. ASISA members paid honest claims worth R639 billion…
"Leaders are under pressure to make tough decisions in unpredictable environments and often carry the emotional load of entire organisations, while having no space to talk about their own mental health. This is simply not sustainable from a…
"It may be the case that climate change is not expected to have a material impact on the mortality and morbidity of insured lives in South Africa, but insurers need to be able to justify their assumptions and provide evidence that a proportionate,…
"Insurance premiums aren’t worked out randomly. They’re based on your personal risk profile, which involves looking at all aspects of your health and life. The good news is that, once you understand what impacts your premium, you can take steps…
"While South African entrepreneurs are growing increasingly sophisticated in planning for long-term growth and succession, a critical and often overlooked insurance gap is leaving a vast number of small and medium-sized businesses dangerously…
"As advisers and insurers, we have a responsibility to help clients make better, more informed decisions, especially in the face of rising living costs and pressure on disposable income. Long-term insurance should be exactly that – to provide…
“I want to congratulate Prabashini on her well-deserved appointment. I am confident that Prabashini will bring the clarity, energy, and accountability needed to lead her team and create value across these business units," says Old Mutual Group…
"Accident cover plays a critical role for individuals who need an affordable way to access quality care. But it's important to know what you're getting and what may be missing before you buy," says Aleesha Reddy, GM for Product Development…
"Millennials are carrying the weight of unsecured credit, rising living costs, and delayed asset acquisition like home ownership. The encouraging sign is that this group is actively seeking support - they're not shying away from their financial…
“The 2024 Standard Bank Flexible Funeral Plan data shows that 10% of policyholders have coverage below R15,000 - an amount unlikely to cover even basic funeral expenses. These individuals face financial vulnerability, with many relying on emergency…
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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