Sanlam, Zimnat’s parent company banks growth prospects on outside South Africa operations
Insurance24 Reporter
South African insurer, Sanlam, who are the largest shareholder in local insurer Zimnat says growth prospects outside of South Africa remain more positive with the improvement in economic conditions likely to persist in the medium term across most regions where it operate.
Sanlam, a financial
Accurate data is the key to a viable insurance sector
For insurers to remain competitive and viable, they require accurate data to move their business forward into the digital age.
Data has always played an important role when making informed decisions in the insurance industry. In the past, data was gathered through face-to-face interactions with clients. Brokers and insurers shaped their understanding
Insurers predicting growth in staff and revenue
The insurance industry is bullish about growth in the next 12 months, with three-quarters of personal lines companies expecting to increase staff.
The majority of insurance (81%) companies are also expecting to grow their revenue in the next 12 months.
The stats are the results of an “Insurance Labor Market Study”, a joint effort conducted by The
South African funeral assurer unveils a funeral cover product for Zimbabweans
Insurance24 Reporter
HARARE, A South African funeral financial services company, Transafrica has unveiled a funeral cover product known as Zim Transafrica Life targeted at over one million Zimbabweans living and working in that country.
The company which has other products that are specifically designed for Zimbabwean citizens
Patra’s three-pronged approach that could save the insurance industry
The insurance industry is aging fast. Hordes of experienced professionals are expected to retire in the next decade and there aren’t enough people keen to step in and replace them.
A workforce generation gap has slowly started to emerge in the past 50 years and the insurance industry, with its drooping sex appeal, has been struggling
Businesses are spending a small fortune on cyber security but what they are doing is not working very well, according to a cyber security expert who sees the insurance industry as a key to improving the situation.
“We have a lot of money going into trying to address this problem,” David Garrett, founder of Tensyl Security, a San Mateo, Calf. -based security consulting firm, told executives at
Insurtech threatens more than half of global insurers – survey
More than half of global insurers estimate that around 20% of their turnover is threatened by insurtech, according to a new study by PwC.
However, insurers are getting better about being proactive in the face of the threat; 45% of them have formed a partnership with an insurtech company. Last year at this time, just 28% of insurers had
Extreme weather casts cloud over insurers’ results
***Weather-related losses are hurting insurers’ bottom lines.
During the first half of 2017 alone, US insurers paid out $15.5 billion to cover the claims that resulted from severe weather. That makes the period the second-costliest half-year on record.
Those payouts are hitting insurers in the wallet. On Thursday, The Travelers Companies reported
Theresa May to spend aid money on insurance against disasters in Africa
Theresa May is planning to spend tens of millions of pounds of aid funding on buying premiums with British insurance companies to help cover the costs of natural disasters in African countries, such as severe drought.
The prime minister believes that buying up private insurance policies in the UK, in a break from more traditional
Aviation insurance sector analysis: Allianz exec
The aviation insurance industry, like other sectors, is facing a number of challenges – but some of those could be become positives for the right markets.
Mike Hansen, who was recently promoted from heading North American aviation to the global head of aviation for Allianz Global