In the news today: Life reinsurer takes a long view on technology deployment, Millennials and their moola, New ecosystem launched to disrupt the Insurance sector and Bonitas announce healthy annual results

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Life reinsurer takes a long view on technology deployment

Rapid changes in technologies and their real-world application make it difficult for firms to stay at the forefront of the tech innovation game. “Firms must be wary of market hype and think carefully about which emerging technologies to adopt,” says Edward Kiarie, Life Reinsurance Developer at Munich Re of Africa (MRoA). Kiarie was presenting at the Munich Re 2019 Africa Life Conference held in Johannesburg from 9-11 July.  READ MORE

Millennials and their moola

With the growing representation of millennials’ (25 to 34 year olds) in the workplace, it is expected that this group will make up almost a quarter of the global workforce by 2020. Momentum Corporate is already seeing this generational shift in the profile of retirement fund membership – with 52% of members being millennials, up from 39% in 2013.  READ MORE

New ecosystem launched to disrupt the Insurance sector

Kenya’s Insurance sector is set to face disruption following the launch of a new InsurTech ecosystem seeking to create new solutions to the ailing insurance sector.  READ MORE

Bonitas announce healthy annual results

Bonitas Medical Fund (the Scheme) reported its financial results for 2018 announcing bolstered reserves from R4.0 billion in 2017 to R4.13 billion in 2018, despite difficult trading conditions. As at 31 December 2018, the Scheme had 330 993 Principal members with a total of 710 206 beneficiaries.  READ MORE