In the news today: Knysna Fires of 2017 Independent disaster report released, Moody’s predicts the South African economy will enter another recession and training at forefront as AI fails to fill underwriting needs

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Knysna Fires of 2017: Independent disaster report released

Today, 2 years after the Knysna and the Eden district municipal area were engulfed by one of the worst wildfire disasters in South Africa’s history. The disaster caused more than R2 billion worth of damage to Knysna. Following the disaster, Santam commissioned the Council for Scientific and Industrial Research (CSIR), the Research Alliance for Disaster and Risk Reduction (RADAR) and the Fire Engineering Research Unit (FireSUN) at Stellenbosch University to conduct research into the cause of the inferno.  READ MORE

Moody’s predicts the South African economy will enter another recession

Following reports the South African economy had contracted by 3.2% in the first three months of 2019, global credit ratings agency Moody’s is expecting yet another recession.  READ MORE

Training at forefront as AI fails to fill underwriting needs

In the 1980s, when first underwriting computer programs were developed, the insurance industry saw this as the end of the need to train underwriters. Decades on, the industry and the Insurance Sector Education and Training Authority (INSETA) have recognised that the ‘human touch’ is still very much needed in the position of underwriter, despite great strides in digitisation.  READ MORE

Oneplan could just be the one health insurance product for your client

Your client’s receive payment before they see their doctor, they get to choose which doctor they see, and they access their medical insurance product right from the palm of their hand (brokers can manage their client’s portfolio through the broker login on the Oneplan portal). These are just some of the ways Oneplan is changing the way clients think about health insurance.  READ MORE

Better business insurance

Small businesses are at the heart of South Africa’s economy and of many financial advice practices. The Small Business Institute (SBI) has found that 98.5% of our economy is made up of small and medium-sized enterprises (SME), which contribute more than 40% of South Africa’s gross domestic product. As the majority of these small businesses operate in the agricultural trade, tourism and construction industries, entrepreneurs face many risks: these are typically owner-managed businesses requiring a hands-on approach.  READ MORE