MoneyMarketing

Insurance

07 Aug 2024

Evolved life cover products stand out in a staid market

By: Nic Smit, Chief Product Actuary at Bidvest Life The Covid-19 pandemic highlighted the need for the life insurance industry to change. It pushed us to expand our services to better meet our clients’ needs by adapting to societal changes and finding ways to cover more risks and provide more value to our clients through...
11 Jul 2024

The future of insurance in Africa

By: Jo-Ann Pohl, Associate Director at Kearney Presently, the insurance industry stands at a pivotal juncture marked by prominent shifts in the environmental, economic, societal and technological landscapes. These transformations highlight both challenges and opportunities that demand careful consideration and a strategic response. To adapt to the current circumstances and secure the longevity of their...
13 Jun 2024

Youth Day: More than 50% of South African youth don’t know how to build a financially stable future says 1Life Insurance survey

This week, 1Life Insurance launched the 2024 generational wealth youth survey, which confirms that youth in South Africa are far from achieving financial freedom and building wealth, placing them at a tremendous disadvantage. Youth unemployment in South Africa currently sits at, 45,5% according to Stats SA, and the study by 1Life revealed that of those...
06 Jun 2024

From diagnosis to recovery: The importance of Critical Illness Income

By: Nic Smit, Chief Product Actuary at Bidvest Life Traditionally, lump sum benefits are seen as the solution to providing protection against major health events. Critical illness cover will pay out a lump sum on the diagnosis of a serious illness, and disability cover will pay out a lump sum in the case of a...
17 May 2024

4 Reasons why you should NOT cancel your medical health cover 

By: Shaun Meintjes, Franchise Principal and Financial Adviser at Consult by Momentum With the National Health Insurance (NHI) Bill having been signed by the President this week, South Africans are more confused than ever before. While most have some level of understanding of what the NHI is, the vast majority are still not clear on...
17 May 2024

What everyone’s saying about the signing of the NHI Bill

What everyone’s saying about the signing of the NHI Bill In what can only be described as a desperate electioneering move, President Cyril Ramaphosa finally found his pen and signed the NHI Bill into law this week. It’s created waves throughout the industry, and amongst consumers, who are all battling to understand the basics of...
16 May 2024

Celebrating a decade of Santam Women of the Future Awards

Santam, in association with FAIRLADY and TRUELOVE magazines, has launched the 10th annual Santam Women of the Future Awards. Over the past decade, the awards have celebrated women entrepreneurs, and showcased the resilience, innovation and success of women who have dared to dream big.  For the second consecutive year, Lancôme is the official beauty partner. All...
18 Apr 2024

Shared responsibility essential for NHI

By: Reo Botes, Managing Executive at Essential Employee Benefits Our current healthcare system is a study of massive disparity, and there is no doubt that something needs to change to improve the quality of life for millions of South Africans. The vision of National Health Insurance (NHI) is to deliver equal access to quality healthcare...
04 Apr 2024

Using geospatial data to manage climate change

By: Zelda Els, Technical Specialist, Santam Mitigating the increasing effects of climate change has become a top priority for South African insurers who have collectively paid billions of rands in related damages over the past five to 10 years. The increasing frequency and severity of weather events – such as heavy rainfall and resultant flooding...
01 Mar 2024

Santam records resilient performance for 2023 financial year

Santam, South Africa’s largest general insurer, has achieved a resilient performance for the 2023 financial year, with the group recording a 6% Net Earned Premium growth rate, an increase of 64% in net income attributable to equity holders and a 28.5% return on capital. The group’s diversification across market segments, insurance classes and geographies enabled...

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