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Non-disclosure of information leading cause of non-payment of claims

Most customers do not realise the importance of providing all required information to insurers at the onset of signing up for cover. What they don’t realise is that dishonesty and fraud result in significant costs to the industry which will ultimately be borne by other customers through higher premiums. (more…)

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Lee Bromfield

Don’t overlook insuring your partner’s parents

Couples in long-term committed relationships often find themselves having to support their spouses financially when one of their in-laws who doesn’t have adequate funeral insurance passes away. (more…)

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Alma Nielsen- National Manager - Claims and Underwriting - LR

Telematics in vehicles – Big Brother isn’t watching you

The European insurance market introduced telematics about ten years ago and South Africa followed suit by introducing it into the local market. The insurance industry then faced the challenge of overcoming the stigma that telematics will become a ‘big brother’ initiative to spy on its clients. This is according to Alma Nielsen, National Manager Claims […]

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Soul Abraham1

Millennials set to change the insurance industry

Millennials are the fastest growing generation in South Africa. Numbering 14.5 million, Statistics South Africa (Stats SA) estimates that they are increasing at twice the rate of the overall South African population. Thus, more millennials are entering the job market each year, which make them the insurance industry’s new customers, says Soul Abraham, Head of […]

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Celeste Buitendag1

Data – the most valuable business asset in the technological age

Cybercrime is expected to cost businesses about R78 trillion by 2021, according to statistics quoted by Cisco Connect South Africa. The internet has created the perfect platform for cyber criminals to grow and prosper as they find ways around security systems and many people and businesses alike, are still not optimally protecting their valuable information. […]

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Karl Bishop1

Growth in sectional title real estate presents new opportunities for insurers

The responsibilities of trustees and executives impacting community and collective property schemes, including golf estates, have become more onerous, due to specific legislative requirements in the Community Schemes Ombud Service (CSOS) Act.  This, says Karl Bishop, head of Santam Specialist Real Estate, has a significant impact on the property insurance solutions provided to consumers, and calls […]

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Ann Streak 2015(1)

Preserving your Medical Aid Savings Account

It’s February and no doubt your medical aid savings account is looking healthy. But in just a few months’ time, you might be reaching into your pocket to pay medical bills after these funds run dry. Senior specialist at Alexander Forbes Health, Ann Streak, has some advice for medical aid members looking to preserve their medical […]

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cancerfeat

Don’t let cancer endanger your financial wellbeing

As one in four South Africans are affected by cancer, it becomes increasingly important for individuals to know the financial implications of an illness and the costs associated with the fight back to good health. (more…)

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