Personalised insurance must be embraced
Risk pooling is as old as insurance itself. But how will the emergence of personalised premiums, based on individual analysis, gained from data-driven solutions, impact on it? Kelly Preston, data analytics manager at SilverBridge, discusses the evolution happening in...
Open banking’s relevance to SA
Imagine if you owned your bank data and could decide who you want to share this data with, thereby gaining access to a broad range of products to suit your needs. Matthew Barnard, an executive at software development company BBD, explains this could become a reality...
Virgin Money makes EFT a thing of the past
Virgin Money has launched a new peer-to-peer payment application, Virgin Money Spot. Virgin Money Spot makes sending and requesting money from friends as easy as sending a text message. Users simply download the app, link their Internet-enabled card from any South...
Data still the biggest obstacle in insurance
Insurers have many bespoke solutions to meet the diverse requirements of their customer base. To develop these, they utilise systems such as enterprise resource planning and broker and claims management to pull data together from many disparate sources. But herein...
Embracing automation in insurance
The mere mention of the word automation instils fear in the hearts of most employees. But it does not have to be the case. Automation in the workplace can lead to significant opportunities across the insurance value chain. By Jaco Swanepoel, CEO of SilverBridge...
Financial services looks to mobile-first
Rapid technological innovation and the emergence of more stringent regulations means that banks are having to reinvent themselves as trusted providers of a much broader range of financial services, delivered securely to consumers primarily via mobile technology. The...
A new way of predicting credit risk
TransUnion introduced its new CreditVision credit scoring solution, changing how lenders offer credit to South African consumers while providing consumers with more opportunities. A recent TransUnion study identified 3-million consumers who previously could not gain...
SRIC migrates to new platform
The Swaziland Royal Insurance Corporation (SRIC) has chosen to migrate to SSP's digital insurance platform, SSP Pure Insurance. SRIC wanted a platform with the digital capabilities necessary to maintain its position as the largest insurer in Swaziland. SSP Pure...
Take the hassle out of insurance forms
TransUnion's new Prefill solution can help the insurance application process become faster and easier than ever. Prefill makes the application process easier for the consumer, as well as faster and more efficient for the provider. Using little more than the...
Of banks and cybersecurity
If there's one industry we should be most concerned about when it comes to cyber criminals and security, it's the one that looks after our money. "The financial services industry is under continual threat from cyber crooks, and the methods they use to try and...
Trends shaping the insurance industry
As the insurance industry continues to evolve while facing new challenges, catastrophes, technological disruptions as well as uncertain, volatile and complex economic conditions, insurers and brokers have no choice but to adapt to constant change in order to thrive....
Robo-advisors, chatbots are changing insurance
Artificial intelligence is playing an increasingly active role in the financial services industry, from risk analysis and mitigation to regulatory compliance and client interaction -- machine learning is proving its worth. Globally, insurance providers are getting in...