SA insurance industry almost ‘out of the woods’

The South African insurance industry has been invaluable to the economy, serving as a shock absorber and allowing many businesses to recover. This is among the findings of KPMG South Africa’s annual South African Insurance Industry Survey for 2021, which polled...

Standard Bank sees 400% growth in virtual card issuance

While South Africans have been embracing virtual cards for some time, the use of this digital payment method has seen a dramatic rise recently. Data from Standard Bank shows that physical card uptake in 2020 slowed significantly, down over 50% from 2019. Meanwhile,...

The role of the consumer in the creation of insurance products

Traditional insurers are under greater pressure today than ever before, writes Greg Gatherer, account manager at Liferay Africa. Even before the pandemic, South African insurers were facing a whirlwind of claims, raising questions about the long-term viability of the...

The effects of climate change on SA’s insurance industry

Climate change is a hotly debated environmental risk and with a marked increase in the frequency and severity of extreme weather events as outlined by Aon’s Annual Catastrophe Report, there is a rising concern that weather catastrophes will impact the...

Digitally-driven solutions can bolster SA’s financial sector

Recent research released by Accenture and the World Economic forum (WEF), estimates that the adoption of digital technologies within the financial services industry can unlock R1,2-trillion in value for the South African financial services industry, its customers and...

Accelerated digital transformation means quick wins for insurers

Across the globe, digitally transformed insurers are weathering the pandemic more successfully than those relying more on in-person intermediation. Robin Wagner, senior vice-president: international insurance at TransUnion, explains why — and the importance of...