Insurance: lessons to learn from banking

Insurance24

HARARE, The insurance industry can learn lessons from the successes and failures of the banking sector and the challenges it has faced with the rise of technology, an expert has said.

Banking has encountered much of the disruption that is currently at play in the insurance industry with many new competitors rising in different areas of the industry

2018 could be ‘most dangerous’ year ever – WEF report

Insurance24

An evolving web of complex global risks is pushing humanity towards the brink – and it’s up to insurers and other socio-political leaders to ensure the consequences of these risks don’t reach catastrophic levels.

Risks are growing ever more interconnected and systemic in nature, which is causing concern for business, political

Insurance industry suffers $136 billion in natural disasters losses in 2017

Insurance24

Globally, the insurance industry suffered $136 billion in losses from natural disasters in 2017 and longer-term risks of climate change are envisaged for the insurance sector.

Coal power plants with a capacity of more than 800 Gigawatt are currently under construction or in the pipeline worldwide and a recent UNEP

Agile insurtechs driving change in car insurance ecosystem

Innovation in auto insurance has come a long way in the past few years, in part due to the founding and growth of “agile” and “tech-savvy” insurtech start-ups.

Competing in the car

How can the insurance industry prepare for Amazon’s arrival?

By now, you’ve more than likely heard the rumours that Amazon is looking to enter the insurance space. Late last year, the e-commerce giant was seen to be recruiting for London-based insurance professionals – cue much speculation over its plans.

It looks as though Amazon is wasting no time in 2018 either, with reports suggesting

Aon sells six businesses in sub-Saharan Africa

Aon plc has sold its entire share of its employee benefit, insurance and reinsurance brokerage operations in Kenya, Lesotho, Malawi, Namibia, Uganda and Zambia to alternative asset manager Capitalworks.

The sale of its businesses in Angola, Mozambique, Swaziland and Tanzania is still awaiting regulatory approval and is expected to be concluded in early

Sanlam to Acquire Absa Consultants and Actuaries

Insurance24

Sanlam Life Insurance Limited (“Sanlam Life”) is pleased to announce that it has entered into agreements to acquire 100% of the issued share capital of Absa Consultants and Actuaries Proprietary Limited (“ACA”) from Absa Financial Services Limited for a consideration of R285 million.

The transaction is subject to certain conditions

Rewriting the words brokers should be using to win clients

Insurance24

HARARE, It could be that you’re talking to your potential clients all wrong, that what you’re saying is turning them off rather than securing that deal.

Maybe you have a tried and true script you work off. Certainly there are insurance buzzwords you use time and time again…
Well, it may be time to re-evaluate the way

Can tech help insurance stop being a ‘grudge’ purchase?

Insurance24

Insurers are using new technology to move insurance from a “grudge” purchase – where customers only interact with the industry when something goes wrong – to a “nudge” purchase – the kind that encourages safer behavior.

Insurers are investing hundreds of millions of dollars in insurtech. The technology can help insurers