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Value added services vital for driving SA insurance industry forward

South Africa’s value added services market is currently a leader in terms of product innovation. The rapid pace at which technology is evolving, is having a significant effect on how providers of assistance services are taking on the South African market. (more…)

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Dishonest policyholders on the rise

When you take out a short-term insurance policy, the responsibility lies with you to provide the insurer with all the necessary information so that it can correctly underwrite (assess and price) your risk.  (more…)

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What really goes into calculating your insurance premium

When the time comes to renew a client’s insurance policies, insurers are likely to alter monthly premiums based on a range of factors such as changes in the details of the insurance policy, anticipated claims inflation on the assets being insured, and changes in cover sums. (more…)

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shortterminsurancecoversmall

OSTI releases Annual Report

The Ombudsman for Short-Term Insurance (OSTI) has released its Annual Report on Operations for 2017. Key highlights for the year are that 9 962 complaints were resolved in an average turn-around time of 131 days with an amount of R87 101 354 recovered for consumers. (more…)

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Drive and Save to offer affordable vehicle theft insurance for South Africans

Through its subsidiary, Drive and Save (Pty) Ltd., global fleet management, vehicle recovery and telematics provider, Cartrack, has launched an affordable insurance product strictly for vehicle theft that will only cost R9.99 for potential Cartrack customers. (more…)

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Why insurance premiums have almost doubled in the past 5 years

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 […]

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Be prepared, keep safe for the road ahead

Holidays are here again! Many families will be taking the well-deserved break. (more…)

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SARB rate cut offers welcome reprieve and growth prospects

 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 […]

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