B2B Central

Insurance

12 Apr 2018

Why insurance premiums have almost doubled in the past 5 years

By Janice Roberts

Many business owners often grapple with insurance premium increases without taking time to understand what leads insurers to hike premiums. Malesela Maupa, Head of Insurer Relationships at FNB Insurance Brokers, says understanding some of the common factors that impact the price of premiums can help businesses plan ahead for unavoidable increases when drawing up their budgets. He...
10 Apr 2018

Naked changes insurance for good

By Janice Roberts

Insurance start-up Naked launches today with an AI-based car insurance offering. “Rebuilt for social good, the new product puts customers in control of their insurance and saves them money,” the company says in a statement.
09 Apr 2018

Fraudulent claims on the rise

By Janice Roberts

Tough times tend to elicit desperate behaviour from people. The slow economic growth, coupled with macroeconomic uncertainty, of the past few years have resulted in a marked increase in the amount of insurance fraud being committed in South Africa. According to the South African Insurance Association, local insurance fraud is in line with international trends...
09 Apr 2018

Industry first launch of life cover that generates wealth

By Janice Roberts

This week, South Africa was introduced to Indie – a 100% digital insurer that focuses on creating wealth while offering customised cover – all in under ten minutes. In a world where consumers have instant access to services like Uber, Netflix, Airbnb and a plethora of retail offerings offering instant gratification, it’s not surprising that...
09 Apr 2018

Fulcrum CollectDirect removes the need for IGF cover

By Janice Roberts

The Fulcrum Group has launched a new product called CollectDirect, which deposits premium collections directly into the respective insurer’s bank account. The system reduces risk for insurers and is fully compliant with the proposed amendments to regulations pertaining to the Short-Term Insurance Act that will put a stop to Sections 45 (IGF) guarantees from a...
05 Apr 2018

Root launches Insurtech platform

By Janice Roberts

Technology company, Root has announced the launch of Root Insurance, an exciting new platform API that enables software developers to rapidly prototype and launch digital insurance products into the SA market. Root’s API enables software developers, using only code, to easily access insurance licences and the full range of insurance and banking-related services needed to...
04 Apr 2018

SA's Financial Sector Regulation Act in force from 1 April 2018

By Janice Roberts

By Patrick Bracher, Norton Rose Fulbright. Most sections of the Financial Sector Regulation Act 2017 were brought into force from 1 April 2018. This step was anticipated as the first step towards the commencement of the new Insurance Act on 1 July 2018.
29 Mar 2018

Delayed Day Zero doesn’t mean ditching water saving efforts

By Janice Roberts

  By Bertus Visser, Chief Executive of Distribution, PSG Insure. The crippling drought that has hit the Western Cape, extending to the Eastern and Northern Cape has yet to loosen its grip. While the threat of running out of water isn’t facing the entire country, South Africans have become more conscious of their water usage....
29 Mar 2018

Be prepared, keep safe for the road ahead

By Janice Roberts

Holidays are here again! Many families will be taking the well-deserved break.
28 Mar 2018

SARB rate cut offers welcome reprieve and growth prospects

By Janice Roberts

 Commentary from Luigi Marinus, Portfolio Manager at PPS Investments. The South African Reserve Bank (SARB) has cut the repo rate by 25 basis points from 6.75% to 6.5% following the most recent rate cut in July 2017. The biggest contributing factors to the rate cut is the low inflation rate at 4.0% per annum as...
27 Mar 2018

Local industry-first specialist risk report reveals huge exposures for SA businesses

By Janice Roberts

Over 56% of South African business owners believe that they still do not fully understand their obligations under the new Companies Act, according to a recent survey by SHA Specialist Underwriters.
27 Mar 2018

Five risks to cover before you travel this Easter

By Janice Roberts

As you’re focused on packing suitcases, checking the car and making sure your pets are cared for, insurance cover is probably the last thing on your mind. However, before you hit the road this Easter, you need to know your insurance status.