News Updates:

Life Insurance


Life Insurance / 27-06-22 / Duty Editor

Falls are increasing among older adults: SCOR

As the number of serious falls reported worldwide surges and already accounts for an estimated 684,000 deaths annually, insurers search for health and wellness solutions that can benefit aging policyholders.

Life Insurance / 23-06-22 / Tau kaVodloza

Sanlam Individual Life pays out R7.2bn in 2021 death claims

It’ll take time to fully appreciate what Covid-19 did – and did not – impact directly. For example, deaths resulting from cancer and heart conditions increased somewhat between 2020 and 2021, says Petrie Marx, product actuary at Sanlam Individual…

Life Insurance / 10-06-22 / Tau kaVodloza

Are South Africans over-insured when it comes to funeral cover?

When you take out a funeral policy, remember to determine how much cover you need and how much cover you already have through other policies, and also make sure that you understand the benefits on offer, as well as any inclusions and exclusions,…

Life Insurance / 07-06-22 / Tau kaVodloza

Discovery Life pays over R11.7 billion claims in 2021

The volume and wide variety of claims as well as value returned to clients for healthy behaviour reveals an all-round positive impact on the lives of clients, says Riaan van Reenen CEO of Discovery Life.

Life Insurance / 01-06-22 / By Duty Editor

Naspers Foundry leads R53 million Series A investment in LifeCheq

"Through LifeCheq, holistic, personalised financial advice can be made accessible to previously underserved South Africans. LifeCheq is empowering people to take charge of their finances – improving their financial well-being and inclusion in…

Life Insurance / 11-05-22 / Tau kaVodloza

Life insurers uncover record numbers of fraudulent and dishonest claims in 2021

Megan Govender, convenor of the ASISA Forensics Standing Committee, attributes the surge in exposed fraudulent and dishonest claims to the deployment of sophisticated detection mechanisms by the long-term insurance industry to stop fraud and…

Life Insurance / 10-05-22 / Tau kaVodloza

PwC Africa Analysis: Major life insurers’ results for year ending 31/12/ 21

Significant shifts are still occurring, the latest being the invasion by Russia of Ukraine and flooding in KZN, impacting not only the economy but environmental and social conditions, says Alsue du Preez, PwC Africa Insurance Leader.

Life Insurance / 05-05-22 / Staff Writer

Sanlam and Allianz join forces to create African insurance giant

We are delighted to have Allianz as partners and believe their expertise and financial strength will add tremendous value to our businesses, says Sanlam Group CEO Paul Hanratty.

Life Insurance / 05-05-22 / By Duty Editor

Delivering personalised advice in the digital age

Steve Piper, Chief Distribution Officer at life insurer Bidvest Life says technology has the potential to bring significant innovation to the insurance industry.

Life Insurance / 17-03-22 / Staff Writer

FMI rebrands to Bidvest Life, eyes greater market share

As Bidvest Life, with the backing of our shareholder, we are building a brand in the market that makes our life insurance solutions accessible to all South Africans; and we will continue to provide cover that is easy to understand and talks…

Life Insurance / 10-03-22 / Tau kaVodloza

Sanlam overcomes Covid pandemic and drives growth

Sanlam Group Chief Executive Officer, Mr Paul Hanratty, said: “Amid a challenging environment, Sanlam delivered good results. We managed to gain market share in virtually every product line and segment, in every part of our business."

Life Insurance / 04-03-22 / Tau kaVodloza

Covid-19 and the rise in consumers’ awareness of risk

“Life insurance is sold, not bought” has been the conventional wisdom for decades, but extraordinary events such as a pandemic can overturn the old belief.

Life Insurance / 02-02-22 / By Duty Editor

Unvaccinated new customers will pay more for cover, says FMI

Life insurer FMI has announced that unvaccinated new customers will, in certain categories, now be subject to higher premiums for cover. FMI’s Chief Product Actuary, Leza Wells, said data showed a clear higher mortality risk for unvaccinated…

Life Insurance / 21-01-22 / Jeanett Modise

Sanlam: How to be a top employer in a time of Covid-19

"We listened and acknowledged the voice of the employee (VoE) in shaping our Human Capital (HC) agenda. Recent studies like those conducted by Boston Consulting Group (BCG) confirmed that the pandemic has permanently reshaped "how we work",”…