“When taking out a life insurance policy, clients are prompted to nominate beneficiaries of the insurance payout. Policyholders have the flexibility to nominate multiple beneficiaries, with the option to amend these beneficiaries as their life…
"Life insurance and retirement savings are not just expenses; they are vital safeguards for your financial future. Skipping contributions can have severe negative impacts both now and in the long term. If risk cover is cancelled, it could be…
"Consumers are under financial pressure due to a tough economic climate and rising living costs. In addition, we find ourselves in an uncertain investment climate due to the upcoming elections. Throw in poor returns from the local market, and…
"Higher interest rates are a game changer, providing life insurance and pension products a tailwind to much better tackle the retirement savings challenges of ageing demographics. Savings products are attractive again as a direct consequence…
"As brokers and industry leaders, it’s imperative that we step into the shoes of those who don’t possess our specialised knowledge and ensure clear and consistent communication in a language that resonates with our clients. The remedy lies in…
The Liberty Group says it paid out R6.72 billion in valid claims to individual clients, their families, and beneficiaries amounting to R25.85 million every working day; and although this is 3.72% lower than in 2022, these statistics still mirror…
"Digitalisation is driving greater convenience, accessibility, and customisation in insurance products, as insurers leverage online platforms, mobile apps, and data analytics to deliver personalised solutions to policyholders. This trend is…
"By disseminating information about healthcare options and resources, intermediaries empower individuals to make informed decisions about their health and navigate the intricate healthcare system effectively. This educational outreach not only…
“Holly was introduced to address some of the challenges faced by intermediaries in completing applications and meeting underwriting requirements. Holly eliminates the back-and-forth associated with incomplete information in manual applications…
“These trends are worrying in the sense that many of these cancer diagnoses are likely to be at much later stages of detection and this has a profound impact for patients in terms of the success and cost of their treatment," says Martin Rimmer,…
“Understanding the deep challenges that members face when accessing medical scheme benefits is a key passion and strength of mine. Many members feel vulnerable and stressed when faced with critical health conditions, and this drives my commitment…
"As a Group, we have invested heavily post-pandemic in supporting a return to health screenings, the results of which are now evident in the 2023 data with a 29% increase in earlier stage cancer claims compared to 2022. The importance of this…
“We have seen several horrendous trends emerging in fraudulent insurance claims related to unnatural deaths, including what is called hit-and-run schemes, where some families stage unnatural deaths after their loved ones pass away naturally…
"Through our pre-emptive claims process, we are able to initiate the claim on behalf of beneficiaries who are not aware of the policies their loved ones might have taken. Over the years, this has saved families against financial hardship after…
Insurance Biz is a New Africa Busines News Services (NABNS) publication launched in 2013 to focus on the insurance industry, investments, financial planning, employee benefits etc. It remains a great resource of news for industry professionals, and for those who seek to learn about the financial sector developments.
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