Shows
COVER MagazineRevolutionising the Funeral Insurance Industry: Insights on the SAFIS SummitThe funeral insurance industry is evolving, but challenges in compliance, fraud prevention, and innovation remain. In this insightful discussion, Marius Brits, CIO and Co-founder of 360 Administration Systems, unpacks the key pain points and solutions shaping the industry. From the role of technology in policy administration to the need for greater education and transparency, this conversation sets the stage for the upcoming SAFIS Summit. Whether you're a broker, insurer, or funeral parlour owner, this episode provides valuable insights into the sector’s pressing issues and future opportunities.
2025-02-1212 min
COVER MagazineThe Origin of KEU: Pioneering Entertainment Insurance in South AfricaKEU, a leading UMA in South Africa’s entertainment insurance sector, celebrates 24 years of innovation and personal connections. Founded by Denise Hattingh, KEU emerged during a pivotal shift in the insurance market, becoming a trusted name for event and film risk coverage. As Denise explains, “Each risk is unique, whether it’s aerial artists or liability claims.” Marketing lead Iola Edmayr highlights the importance of balancing digital tools, like broker portals, with personal touchpoints. The upcoming rebranding and website refresh, launching in early 2025, signals KEU’s commitment to staying relevant while fostering meaningful broker relationships.
2025-02-0613 min
COVER MagazineDemystifying Premium Finance: A Guide for Policyholders and BrokersSachin Govender, Managing Director at Fulcrum Premium Finance, unpacks the concept of premium financing, a solution that offers structured payment methods for annual insurance premiums. He explains its wide-ranging benefits for policyholders, brokers, underwriters, and insurers, such as improved cash flow, reduced administrative burdens, and faster premium collection. Govender highlights the growing demand in sectors like heavy commercial vehicles, where high premiums necessitate financing options. He emphasises Fulcrum’s quick approval process, with quotes delivered in under a day, and a customer-focused approach, enabling clients to optimise their cash flow while brokers enhance their value proposition through flexible payment op...2025-02-0611 min
COVER MagazineFNB Insure’s Approach to Health and Financial SecurityIn this episode, FNB Insure’s Product Portfolio Lead, Balesh Raniga, delves into the importance of affordable health insurance for South Africans. He explains FNB’s innovative approach, from the Health Cash Plan to Gap Cover, designed to provide essential financial support during health events.
Balesh also shares insights on FNB’s goal to move beyond the “grudge purchase” mindset by making insurance accessible and meaningful. Tune in to learn how FNB Insure is addressing the unique challenges of South Africa’s insurance landscape and bridging the gaps in health funding, even for those who aren’t traditional medi...2025-02-0613 min
COVER MagazineMomentum Insure’s Journey: Insights from CEO Brand PretoriusMomentum Insure has undergone a significant transformation since its acquisition of Alexander Forbes Insurance in 2019/2020. In this discussion with Momentum Insure’s CEO Brant Pretorius, he fills us in Momentum Insure’s journey and transformation since this acquisition.
Despite industry challenges such as climate change, inflation, and failing infrastructure, Momentum Insure has successfully realigned its strategy. With a focus on claims ratio improvement, cost reduction, and digitalisation, the company has achieved remarkable growth and profitability.
Pretorius highlights the importance of intermediaries in this journey, emphasising their evolving role in providing advice and leveraging technology. Looking ahead, h...2025-02-0620 min
COVER MagazineThe Future of Premium Collection: A Conversation with Fulcrum’s Tech TeamJade Jensen, MD of Fulcrum Group South Africa, and Dave Stevens, CTO, explore Fulcrum’s new Air Collect model. They discuss the complexities of premium finance and how Air Collect is transforming the collection process for brokers and insurers.
Jade and Dave explain the technical and operational advantages of Air Collect, which consolidates collections and streamlines payment distributions. This innovative solution minimises risks, reduces administrative burdens, and simplifies monthly reconciliations for brokers.
If you're in the insurance industry, this podcast provides valuable insights into how Fulcrum’s solutions can enhance efficiency and mitigate financial risks.
2025-02-0620 min
COVER MagazineGenerational Insights in Insurance ClaimsNic Smit, from Bidvest Life, shares key insights from their annual claims report, offering a generational perspective on insurance needs. Millennials are 55 times more likely to claim for income protection than death benefits, highlighting a critical gap in awareness and coverage. Smit emphasises the need for financial advisers to adapt their approaches to reach younger clients and discusses innovative solutions, such as combining critical illness benefits with income protection for improved claims experiences. Additionally, he highlights their impressive claims payout ratios and quick turnaround times, showcasing Bidvest Life’s commitment to supporting policyholders in times of need.
2025-02-0616 min
COVER MagazineInnovating Reinsurance: Insights from Jephita Gwatipedza, Zep ReJephita Gwatipedza, COO of Zep Re, highlights the evolving reinsurance landscape across Southern Africa. Despite challenges like economic constraints and localised regulatory shifts, opportunities are emerging in micro-insurance, agriculture insurance, and parametric solutions. Zep Re’s initiatives include World Bank-backed agricultural insurance projects and innovative products like collateral replacement indemnities to enhance insurance accessibility. Skills development remains a priority, with the RI Academy training over 22,000 professionals in five years. Jephita underscores the need for local expertise and international collaboration to unlock the region's growth potential while addressing critical risks such as flooding and emerging threats like cyber risks.
2025-02-0614 min
COVER MagazineDriving Excellence Through People and Processes at My GlassJoin Tony from COVER as he chats with Gary Stieger, CEO of My Glass, about their recent award win and the drivers behind their success. Gary shares insights into how My Glass delivers exceptional service through passionate teams, robust systems, and a culture of continuous improvement. Learn how My Glass balances the needs of insurers, brokers, and clients while maintaining a 98-99% customer satisfaction rating. With a strong network of service providers and innovative systems, My Glass is redefining service standards in the fitment industry.
2025-02-0610 min
COVER MagazineEmerging Risks and Resilience in African MarketsIn this engaging discussion, Patty K. Martin, CEO and President of the African Insurance Organisation (AIO), explores the current state and future opportunities in the reinsurance sector. She highlights how reinsurance serves as a barometer for the African insurance industry's health and resilience. Key topics include emerging risks like cyberattacks, climate change, and geopolitical challenges, as well as the rising demand for innovative products such as parametric insurance. Patty also emphasises the importance of addressing skills gaps, fostering collaboration, and leveraging technology to meet Africa’s evolving insurance needs. Her insights offer a compelling vision for the industry's future.
2025-02-0612 min
COVER MagazineReinsurance Resilience: Jane March's Outlook for 2025Jane March, CEO of Guy Carpenter South Africa, discusses the current state and outlook of the Southern African reinsurance market. After three challenging years marked by COVID-19, natural disasters, and economic constraints, the market shows signs of stabilisation. Jane highlights key opportunities, including parametric solutions and capacity growth in catastrophe insurance. Despite economic pressures, innovation, knowledge sharing, and skills development are reshaping the industry. With improved underwriting discipline and international collaboration, Jane forecasts a cautiously optimistic outlook for 2025. Her insights underscore the resilience of the industry and its role in supporting local insurers through tailored solutions and expertise.
2025-02-0507 min
COVER MagazineAI and Machine Learning in Insurance AnalyticsAdrian Mincher, Director at Earnix, delves into how data analytics and AI are reshaping underwriting in insurance. Traditional approaches relying on experience are giving way to data-driven decisions that enhance risk assessment and pricing strategies. By integrating advanced technologies, insurers gain granular insights into exposure trends, enabling more informed decisions, improved loss ratios, and greater efficiency. Mincher also highlights the implications of global pricing regulations, such as “price walking,” and how they may influence the South African market. As the industry evolves, leveraging data and analytics is critical for insurers to remain competitive, efficient, and responsive to regulatory changes.
2025-01-2115 min
COVER MagazineAI, Data, and the Urgency for Change in InsuranceMarcus Looft, Strategy Director at Earnix, talks about the findings of Earnix's 2024 Insurance Trends Report.
Marcus explores the industry's biggest challenges, including legacy system modernisation, AI adoption, and the growing urgency for innovation.
He shares insights into how insurers are leveraging data-driven technologies to enhance decision-making and collaboration while navigating regulatory pressures and emerging risks like cybersecurity.
Discover how these advancements are reshaping the competitive landscape and why modernisation is no longer optional but essential.
2025-01-0820 min
COVER MagazineEvolving Insurance with Business IntelligenceGraham Harvey, CEO of Cardinal, talks about the evolving role of business intelligence (BI) in the insurance industry. Graham discusses how technology has moved from the back office to the forefront of strategic decision-making.
Cardinal's investment in BI solutions, including partnerships with tools like Power BI and QlikSense, has enabled insurers to better analyze data and make more informed decisions. Tune in to learn how BI is revolutionising insurance operations and why building an ecosystem of best-of-breed technology partners is key to staying competitive in the industry.
2024-11-2814 min
COVER MagazineUnlocking the Potential of Embedded Insurance in Everyday Transactionsoin us as we explore the game-changing world of embedded insurance with Charlotte Koep, CEO of Root shares insight into the game-changing world of embedded insurance.
She explains how embedded insurance integrates seamlessly into everyday transactions, providing immediate protection for consumers and businesses alike.
Charlotte delves into how Root's technology enables insurers to digitise their operations and collaborate with non-insurance brands to offer risk coverage at the point of purchase.
Learn how embedded insurance is helping close the protection gap, especially in underserved markets across Africa.
2024-11-2510 min
COVER MagazineUnlocking the Power of Data: Insights from Angus Black - Part 2In a recent discussion, Angus Black, Director at BDS BarnOwn Data Services, emphasised the transformative power of data in the insurance industry. Highlighting its evolution over 16 years, he noted that the use of data has expanded beyond regulatory compliance to include underwriting, actuarial analysis, and claims management. Angus explained that a solid data standard allows for automation, enhancing data quality and streamlining processes. He underscored the importance of integrating various data sources to support brokers and insurers, enabling more informed decision-making and fostering stronger relationships within the industry.
2024-11-2513 min
COVER MagazineUnderstanding Data Standards in the Insurance Industry - Part 1In a conversation with COVER Magazine, Angus Black, Director at BarnOwl Data Services, discussed the critical role of data standards in the insurance industry. He emphasised that data standards consist of three main elements: defining data fields, identifying essential data elements, and setting clear rules for data collection. Angus explained that while regulations provide a framework for data uniformity, flexibility and repeatability are key to ensuring accurate and shareable data across platforms. Automation plays a vital role in managing large volumes of data, but human oversight is necessary to ensure accuracy and handle unique cases.
2024-11-2524 min
COVER MagazineBuilding Lasting Client RelationshipsNatasja Norvall Hart of Evolution Wealth, the 2010 Financial Planner of the Year, reflects on her two-decade journey in the financial planning industry. She emphasises the critical role financial planners play in clients’ lives, particularly during significant life events. Natasja highlights the importance of holistic financial planning and maintaining lasting client relationships. She praises the evolution of the industry, noting how product providers are transitioning from transactional to partnership models. Additionally, Natasja discusses the value of the CFP designation and the significance of continuous professional development and ethics in navigating potential conflicts of interest.
2024-11-2516 min
COVER MagazineInsights from past Financial Planner of the Year: Hester van der Merwe In a conversation with Tony from Cover, Hester van der Merwe of Ultima Financial Planning reflects on her journey in the financial planning industry. Winning the Financial Planner of the Year award in 2020 transformed her perception of the profession, which she describes as evolving from sales-driven to client-centered advice. Hester emphasizes the importance of authentic relationships with clients and encourages the next generation to enter the profession, highlighting the role of paraplanning as a valuable entry point. She advocates for a coaching approach, urging advisors to listen and understand their clients’ unique life situations.
2024-11-2515 min
COVER MagazineMentoring the Next Generation of Financial PlannersWouter Fourie of ASCO Independent Wealth Managers and past FPI Financial Planner of the Year, reflects on the firm’s 20-year journey in providing holistic financial planning. Wouter discusses how the industry has evolved from sales-driven practices to a professional, client-focused service. He highlights the importance of mentoring the next generation, educating clients, and integrating technology, particularly AI, into financial planning. Wouter shares his passion for the technical side of the business and emphasizes that education, both for clients and financial planners, is essential for navigating South Africa’s complex economic challenges.
2024-11-2215 min
COVER MagazineNavigating the Retirement LandscapeIn a discussion with Tony at COVER, Alec Riddle, Financial Planner of the Year winner, shares his expertise on retirement planning. Alec highlights the dangers of high drawdown rates and suggests a blend of living and life annuities to create sustainable income for retirees. He emphasizes the need for planners to put clients first, focus on longevity, and adapt to changes in the industry. Alec also stresses the importance of annual reviews and addressing the mindset shift needed for successful retirement. He encourages financial planners to link up with larger organisations to navigate increasing compliance and technology costs.
2024-11-2219 min
COVER MagazineClient-Centric Financial Planning: Bruce Fleming's PerspectiveBruce Fleming, an experienced financial planner with nearly three decades of industry experience, discusses his journey from legal advisor to lifestyle financial planner. In this candid conversation, he highlights the importance of putting the client first, how legislative changes have shaped the industry, and the vital role trust plays in client relationships. Bruce's commitment to providing tailored financial solutions and fostering long-term partnerships with clients stands at the heart of his approach. For those entering the financial planning industry, his insights offer valuable lessons on building trust, navigating industry changes, and ensuring client-centric service.
2024-11-2222 min
COVER MagazineIn Pursuit of Truth: Barry O'Mahony's Journey in Financial PlanningBarry O'Mahony, founder of Veritas Wealth Management, shares his journey from cold-calling in South Africa to becoming one of the country's top financial planners. In this interview, Barry opens up about the significance of Veritas, which means "truth" in Latin, and how his approach to lifestyle financial planning has transformed the lives of his clients. Winning Financial Planner of the Year was a game-changer, not just for his public image but in reinforcing trust with his existing clients. Barry also touches on the complex challenges facing financial planners today, including navigating uncertain markets and helping clients through major life...2024-11-2115 min
COVER MagazineHow Trust and Transparency Define Financial SuccessLara Warburton, Director at Integral Wealth and Financial Planner of the Year, has spent over two decades shaping the financial planning profession. Initially starting in a different field, Lara’s career journey led her to Investec, where she discovered her passion for financial advice. Now, a Certified Financial Planner® (CFP), she values the trust her clients place in her, emphasising transparency, honesty, and client-centric advice. Lara believes financial planning is about helping clients navigate both the good and difficult times. Her key advice for aspiring planners? Know your limits, stay transparent, and always prioritise your clients' needs.
2024-11-2113 min
COVER MagazineBuilding a Legacy of IntegrityDebbie Netto, founder of Netto Invest, has transformed the financial planning industry with her holistic and client-centered approach. Beginning her career as a nurse, Debbie's passion for helping people shifted from healthcare to financial wellness, driven by a desire to guide clients through life’s pivotal moments. With over three decades of experience, she pioneered fee-based financial planning, moving away from commission-driven models. Debbie’s leadership has empowered her team to deliver consistent, needs-based advice to clients, combining technology with a deeply personal understanding of their financial challenges and goals. Integrity and education remain the foundation of her lasting impa...2024-11-2116 min
COVER MagazineBuilding a Sustainable Financial PracticePeter Hewett, founder of Hewett Wealth, reflects on over 30 years in the financial planning industry. Starting in fiduciary services before moving into asset management and finally building his own advisory firm, Hewett Wealth has grown significantly, with branches in Johannesburg, Pretoria, and Cape Town. Peter emphasises the importance of client relationships, ongoing education, and the shift from commission-based to fee-based financial planning. He advocates for sustainable business practices, transparent fee structures, and integrating technology to navigate regulatory changes. His approach centers on delivering real value to clients through tailored, transparent advice, contributing to the industry's professionalisation.
2024-11-2014 min
COVER MagazineBridging Expertise and RelationshipsRyan McCaughey, a financial advisor at Hewett Wealth and 2021 Financial Planner of the Year, combines over 14 years of investment experience with a passion for people. Based in Cape Town, Ryan’s approach focuses on educating clients through each step of the financial planning process. His background in portfolio management and equity analysis equips him with deep market insights, which he uses to create tailored financial plans. Ryan emphasises the role of technology in scaling advisory practices and highlights the importance of building long-lasting relationships with clients, ensuring that they receive personalised, transparent financial advice for a secure future.
2024-11-2016 min
COVER MagazineClient-Centered Financial PlanningJanet Hugo, founder of Sterling Wealth, approaches financial planning with empathy and personalised care. Inspired by her family’s experience with poor financial advice, Janet was driven to offer bespoke solutions that focus on understanding each client’s unique needs. With a deep commitment to client well-being, she often goes beyond financial strategies, encouraging her clients to enjoy their wealth. Janet fosters close relationships, carefully navigating personal and financial dynamics, from family disputes to estate planning. Her client-centered approach, combined with her belief in using technology to enhance advisory services, has helped her establish a trusted and successful financial plan...2024-11-2017 min
COVER MagazineBuilding Sustainable WealthCraig Kiggen, Managing Director of Consolidated Wealth Group and past winner of the Financial Planner of the Year award, shares insights from his journey in financial planning and business leadership. Consolidated Wealth offers a comprehensive financial service that ensures clients' peace of mind and long-term security. Over the years, Craig's focus has expanded to mentoring junior planners and leading Consolidated through global growth and technological innovation. His philosophy emphasises balancing sustainable profits with fair client outcomes, fostering long-term relationships, and creating a collaborative environment that nurtures the next generation of financial planners.
2024-11-1915 min
COVER MagazineEthics, Growth, and Client-Centered ServiceWarren Ingram, co-founder of Galileo Capital and winner of the Financial Planner of the Year award, has dedicated his career to revolutionising financial advice by putting ethics and client-centered service at the forefront. Starting in 1996, Warren’s journey took him from corporate environments that prioritized profit over people to launching Galileo Capital, where he pioneered a fee-based, no-commission financial planning model. Through his leadership, Warren has helped countless clients achieve financial freedom by focusing on long-term strategies and building trust. He also advocates for professional certification and mentoring younger financial planners to ensure the continued growth of the profession.
2024-11-1922 min
COVER MagazineBridging the Human and Technical Sides of FinanceIn an engaging discussion with Tony, Rudolph Geldenhuys, Financial Planner of the Year 2024, shares his journey and insights into financial planning. At just 33, Rudolph emphasises the importance of balancing the technical and human sides of money management. His goal is to help clients align their financial decisions with their personal purpose. Rudolph also touches on overcoming personal insecurities, the value of community, and the vital role of technology and teamwork in supporting his passion for client interaction. His message to young financial planners? Find your "why" and connect deeply with clients to make lasting impacts.
2024-11-1918 min
COVER MagazineHow Cyber Risk Is Redefining Business InsuranceSpiros Fatouros, CEO of Marsh Africa, unpacks the evolving landscape of cyber risk and insurance. Spiros discusses key insights from the Marsh McLennan and Zurich report, which highlights that 99% of economic loss from cyber incidents remains uninsured.
With cyberattacks becoming more frequent and costly, Spiros explains the importance of addressing this protection gap and outlines the growing interest in cyber insurance in South Africa.
He also emphasises the need for public-private partnerships to tackle systemic risks. Listen to the podcast to explore the future of cyber risk management in Africa and beyond.
2024-11-0816 min
COVER MagazineExpanding Access to Affordable HealthcareMaria Makhabane, Chief Growth Officer at Discovery Health, shares her insights on expanding access to affordable healthcare in South Africa. In this interview, she explains Discovery Health's initiatives, such as FlexiCare, a prepaid healthcare product that provides essential medical services to underserved communities. Maria emphasises the importance of creating long-term healthcare solutions for those outside the traditional medical scheme environment, focusing on quality, affordability, and accessibility. She also discusses how these initiatives align with the broader national goal of universal healthcare, contributing to the ongoing development of the National Health Insurance (NHI) framework.
2024-11-0824 min
Inner Athlete PodcastEp. 100: Inner Athlete Podcast: Milestone Moments from 100 EpisodesIn this special milestone episode, Trent and Dave recap their key learning lessons over the last 2 years and 100 episodes of the Inner Athlete Podcast. They discuss the origins and conception of the podcast, what the early topics involved, contribution of special guests and key learnings from significant episodes. They conclude with their future plans for the podcast going forward. A special thank you to all the listeners, guests and staff involved in the success of the Inner Athlete PodcastIn this special milestone episode, Trent and Dave recap their key learning lessons over the last 2 years an...2024-10-3136 min
COVER MagazineA Trailblazer in Financial ServicesNonhlanhla (Noni) Nxele, CFP®, founder of Esteemed Financial Solutions, has been a trailblazer in the financial services industry for over 16 years. Starting her career as a financial advisor at Liberty, she earned multiple awards before moving into investments and later returning to Liberty’s head office. In 2021, she achieved the prestigious CFP® designation, motivated by her passion for educating and empowering communities. Noni was recently honored with the It Starts With Me award, recognising her dedication to pro bono work and upholding high ethical standards. As a leader, she’s committed to inspiring the next generation of financial advisors.
2024-10-3013 min
COVER MagazineThe Rising Threat of Data ExfiltrationThe Allianz Cybersecurity Resilience Report 2024 highlights key trends in cyber risk, with ransomware continuing to dominate large claims over €1 million. Data breaches and class action suits are also on the rise, particularly in the U.S. and Europe. Allianz Cyber Specialist Santho Mohapeloa emphasises that cybercriminals are increasingly shifting from encryption-based ransomware to data theft, making breaches more costly for victims. Best practices for risk mitigation include employee training, multi-factor authentication (MFA), and comprehensive disaster recovery plans. The report serves as an essential tool for brokers and risk managers to stay informed and prepared for future cyber threats.
2024-10-3008 min
COVER MagazineUnderstanding the Evolving Landscape of HCV and GRT InsuranceCurtis Davey, Divisional Director at Natsure Underwriting Managers discusses navigating the complex world of HCV and GIT.
The insurance landscape for heavy commercial vehicles (HCV) and goods in transit (GRT) is rapidly evolving, driven by trends in risk management and technological advancements. Fleet owners are increasingly adopting strategies such as telematics and surveillance cameras to enhance safety and efficiency. This shift necessitates a more in-depth underwriting process, where insurers assess how well fleet owners manage their vehicles and drivers. Brokers play a vital role, bridging the gap between insurers and clients by educating them on risk mitigation...2024-10-3013 min
COVER MagazineEyes on the Ground”: A Return to Traditional Risk InspectionsCindy Butler, Renasa’s Regional Manager for KZN and Coastal, discusses the importance of risk management in the insurance industry, focusing on KZN's challenges over the past five years, including storms, riots, and fires.
Renasa’s approach combines advanced data analysis with an “Eyes on the Ground” initiative, where risks are physically inspected. Cindy emphasises the importance of broker relationships, using both technology and personal engagement to manage risks prudently.
She highlights the need for collaboration between insurers, brokers, and clients, with a focus on making KZN insurable again, despite ongoing service delivery and weather-related challenges. 2024-10-3017 min
COVER MagazineLiving in the MomentNondumiso Mabece, head of brand and Santam Insurance fills us in on Santam's brand refresh which centers on the powerful new slogan, “This is Freedom. Live in the moment, not in the worry," encouraging clients to embrace living in the moment, free from the worry of potential risks. While maintaining their well-known commitment to providing "Insurance good and proper," Santam shifts focus toward empowering customers by emphasising the freedom that insurance offers. With risk management at its core, Santam seeks to simplify insurance processes, save clients time, and help them secure their assets. This transformation speaks to a broader vi...2024-10-3015 min
COVER MagazineBreaking the Mold: Redefining Insurance with Data and TechnologyIn this engaging interview with the leadership team from Elevate, we explore how the company is revolutionising the insurance industry through data-driven solutions and technological innovation.
With insights from Judith Ndaba, Matan Abraham, and Zane Heyl, we discuss the challenges of integrating healthcare data, improving underwriting efficiency, and creating real-time pricing strategies.
The conversation highlights the team's commitment to continuous refinement and the importance of embedding their journey into the lives of both clients and advisors. Elevate’s vision is clear: to deliver seamless insurance experiences that benefit customers and streamline operational processes.
2024-10-2125 min
COVER MagazineGrowing brands podcast series - Marketing Session with Elliot SchwartzThere is a lot of good information on the topic of marketing out there but it's not always focused on the insurance industry.
Having helped many small and large companies in the insurance industry with their brand building for more than 36 years, the COVER team decided that it would be helpful to create a podcast series that distills brand and digital marketing frameworks and concepts into actionable steps. The focus is on helping insurance professionals, from brokers through to advisers and SMEs across the financial services industry, drive growth in their business.
By blen...2024-10-2141 min
COVER MagazineEvolving Complexity in Engineering ClaimsFiredart Claims Team—Shelly-Ann Whittaker, Claims Manager; Tlotlego Teffo, Claims Specialist; and Kami Joas Marima, Claims Specialist shed light on the evolving landscape of engineering claims, the complexities involved, and how they stay ahead in an ever-changing industry.
Engineering claims have grown increasingly complex in recent years, driven by factors such as the slow recovery of the construction sector post-COVID-19 and financial strain on contractors. Disputes have risen, with coverage gaps and contested settlements adding to the challenge. Insurers must focus on both technical expertise and dispute resolution to manage these complexities effectively. Proactively understanding contractors’ challenges, combin...2024-10-2126 min
COVER MagazineNavigating Offshore Investments for South AfricansOffshore investments are becoming an increasingly vital component of wealth management for South Africans. Rex Cowley, co-founder of Overseas Trust and Pensions, highlights the importance of understanding the different customer segments in this space, from South Africans working abroad to those seeking to protect and preserve their wealth. Proper tax planning, regulatory considerations, and the potential complexities of international laws are key. Cowley emphasizes that working with regulated financial advisors is crucial to navigating the nuances of cross-border wealth management and ensuring that assets are protected and efficiently managed across multiple jurisdictions.
2024-10-1422 min
COVER MagazineBalancing Innovation and Empathy in InsuranceIn a conversation at the IISA conference, Colin Greenhill, CEO of SSP Worldwide, emphasised the evolving role of technology in insurance. He highlighted that SSP's goal is to make their technology "invisible" to customers, ensuring seamless and reliable service. Greenhill shared insights on the industry's shift from a technology-centric focus to prioritising customer experiences. He noted that while SSP supports innovation, the end goal is to empower insurers and brokers to deliver excellent customer service. This approach enables insurance providers to focus on their core mission of protecting and reassuring clients.
2024-10-0813 min
COVER MagazineRevolutionising Life Insurance with Wellbeing DataIn this conversation with Judith Ndaba from Elevate, we explored how their innovative customer portal enhances life insurance by integrating wellbeing data. The portal collects and consolidates clients' medical, financial, and fitness information, providing a holistic view of their health. By offering up to 35% premium refunds based on data engagement, it encourages regular updates and proactive health management. Judith highlighted surprising trends, noting that older clients are highly engaged, leveraging the portal’s comprehensive integration of wearables and other health data to improve their wellbeing and manage their insurance risk more effectively.
2024-09-1210 min
COVER MagazineVincent Gaudel - Navigating Compliance Strategies for Financial ServicesIn an insightful interview with Tony Van Niekerk from Cover Magazine, Vincent Gaudel of LexisNexis Risk Solutions discusses the increasing significance of sanctions in the global landscape. Gaudel highlights the continued impact of sanctions following the Ukraine war, with key findings from their 2023 report showing ongoing extensive use and frequent updates to sanctions lists. He also addresses the challenges international businesses face in complying with far-reaching U.S. sanctions and provides a detailed perspective on South Africa's grey listing and its implications for financial services firms. Gaudel emphasises the importance of robust compliance processes and risk assessments in navigating...2024-09-1215 min
COVER MagazineLeadership in a Rapidly Evolving WorldIn a recent conversation, Ayanda Seboni, Group Executive for Mutuality at PPS, shared her insights on effective leadership in today’s fast-paced world. She emphasised the importance of adaptability, authenticity, and empathy as key traits for successful leaders.
Seboni discussed how mutuals, like PPS, uniquely align client needs with business goals by eliminating conflicts between shareholders and clients. She also highlighted how advisors can benefit from adopting a client-centric approach, being flexible, and fostering trust through empathy.
Her insights offer valuable guidance for navigating leadership and client relationships in the modern landscape.
2024-09-1211 min
COVER MagazineOvercoming Distribution Challenges in Agri-InsuranceTony from COVER Magazine interviews Pascal Siphugu, Managing Director at LandBank Insurance, at the AIE conference. Pascal highlights LandBank Insurance’s focus on agri-insurance, specifically crop insurance, and its social mandate to support both commercial and small-scale farmers. He details plans to develop affordable, bespoke solutions like index insurance to aid small-scale farmers, a need currently unmet in South Africa. Pascal also mentions efforts to improve distribution by training black brokers and collaborating with commodity bodies. The discussion touches on government support, partnerships with reinsurers, and the importance of learning from other African countries’ experiences.
2024-09-0513 min
COVER MagazineFrom Youth to Professionals: GIFS's Pathways for SuccessAt AIE 2024’s 50th conference, Tony from COVER spoke with Kershen Pillay from GIFS. Kershen discussed GIFS’s unique approach to upskilling through programs like the Youth Accelerator and IIG Academic Program, which aim to professionalise the industry by transforming unemployed youth into insurance professionals. He also highlighted the importance of community-based consumer education to reduce risks and improve claim management. Kershen emphasized that consumer education is legislated under TCF principles, and engaging community leaders could enhance outreach. Reflecting on the conference, Kershen appreciated the timely discussions on democracy and the role of the financial services sector in global econ...2024-09-0510 min
COVER MagazineDriving Digital Transformation in InsuranceAt AIE 2024, Tony from COVER Magazine interviewed Gary Tessendorf, Sapiens' Country Manager for Africa. Gary reflected on Sapiens' remarkable growth over the past eight years, expanding to serve 600 insurance customers across Africa. He highlighted the increasing adoption of new technology within the insurance industry, driven by market pressures and advancements like AI. Gary emphasised the strong partnerships Sapiens has formed with customers, as well as the transfer of international knowledge to local markets. With their expanding presence in Africa, Gary expressed excitement about the future, noting that the possibilities with AI are just beginning.
2024-09-0510 min
COVER MagazineExpanding Horizons: Santam Specialist Insurance’s Strategy for GrowthTony at COVER Magazine spoke with Gareth Beaver, CEO of Santam Specialist Insurance, at AIE 2024. During the conversation Gareth highlighted the value of networking at such events and the importance of Santam’s platinum sponsorship. He discussed Santam's strategy of consolidating specialist insurance brands under one umbrella, emphasising the efficiency and strength of a unified brand. Gareth also outlined the company's expansion goals, particularly in Africa and beyond, leveraging Santam’s strong reputation. The conversation underscored Santam's commitment to supporting brokers and adapting to a more professional and formalised regulatory environment across the insurance industry.
2024-09-0510 min
COVER MagazineNavigating Tech Trends in Africa’s Insurance SectorTony from COVER Magazine caught up with Clinton Da Costa Brown of SSP at the insurance conference. Clinton highlighted the impressive conference atmosphere and discussed the current landscape of technology in Africa. He emphasised that while AI and automation are key trends, insurers often face pitfalls by focusing too early on technology without a clear strategic plan. Clinton stressed the importance of understanding core functionalities and the need for a solid vision before engaging with vendors. He also noted the challenges of working with providers whose ownership might change, affecting long-term stability. Clinton remains optimistic about Africa's evolving insurance...2024-09-0515 min
COVER MagazineTransforming Insurance with AI and DataIn an insightful conversation at AIE 2024, Cliff De Wit, CTO of Netstar, shared with Tony of COVER the expansive role Netstar plays beyond vehicle recovery. Cliff highlighted the company's focus on leveraging high-quality data from telematics to help insurers make informed decisions. He also discussed the integration of video-based data and AI to enhance risk management, allowing insurers to offer more personalised, competitive products. Cliff emphasised the transformative potential of AI, comparing it to historical innovations like electricity, and how it's set to revolutionise the way we interact with technology.
2024-09-0516 min
COVER MagazineNavigating Africa's Engineering Insurance LandscapeAt the Insurance Institute conference at Sun City, Philani Mbatha, Executive Head of African Region at Mirabilis, discussed the company's extensive experience in engineering insurance across Africa. With over 15 years in the market, Mirabilis operates continent-wide, responding to infrastructure projects as they emerge. Mbatha highlighted the growing infrastructure needs in Africa, from roads to ports, and emphasized the importance of understanding local regulations. He advised reinsurance brokers to work with knowledgeable partners like Mirabilis to navigate the complexities of the African market, respect local rules, and contribute to the region's economic growth.
2024-09-0506 min
COVER MagazineAdapting to a Changing Risk Landscape in South AfricaAt a recent conference, Robert Attwell, CEO of Discovery Insure, discussed the evolving risk landscape, emphasising the need for insurers to adapt to "the era of the never normal." He highlighted the impacts of extreme weather and power stability on risk management. Attwell underscored the importance of working closely with advisors to understand client needs and maintain industry sustainability. He expressed optimism about South Africa's economic environment, noting improvements in inflation and political stability. The conference provided a valuable platform for industry professionals to discuss future trends and foster essential relationships.
2024-09-0505 min
COVER MagazineEvolving Conflict Resolution in the Insurance IndustryAt the AIE 2024, Donald Dinnie, Director at Norton Rose Fulbright, discussed the evolution of conflict resolution within the insurance industry. He highlighted the shift from primitive conflict handling to modern alternative dispute resolution (ADR) methods. The insurance sector has seen a significant increase in using mediation and arbitration, driven by the inefficiencies and delays in the court system. Dinnie emphasized the importance of proper documentation and early witness statements to ensure a smooth dispute resolution process. The introduction of new ombud rules has enhanced the industry's accountability, benefiting both insurers and insured parties.
2024-09-0509 min
COVER MagazineAdapting to Climate ChangeAt the AIE 2024 conference in Sun City, Dawn Miller, Chief Commercial Officer of Lloyd's, discussed the critical issues facing the insurance industry, particularly in South Africa. She highlighted the increasing relevance of climate change, pointing out that urbanization and shifting populations are exacerbating risks. Miller emphasised the importance of collaboration and innovation, especially in risk management and addressing new technologies. Lloyd's, through initiatives like the Lloyd’s Lab, is fostering a space for the insurance market to innovate and tackle complex risks, from cyber threats to climate-related incidents.
2024-09-0517 min
COVER MagazineBalancing Innovation and Empathy in InsuranceIn a conversation at the IISA conference, Colin Greenhill, CEO of SSP Worldwide, emphasized the evolving role of technology in insurance. He highlighted that SSP's goal is to make their technology "invisible" to customers, ensuring seamless and reliable service. Greenhill shared insights on the industry's shift from a technology-centric focus to prioritizing customer experiences. He noted that while SSP supports innovation, the end goal is to empower insurers and brokers to deliver excellent customer service. This approach enables insurance providers to focus on their core mission of protecting and reassuring clients.
2024-09-0514 min
COVER MagazineWorkerslife's Role in South Africa's Insurance LandscapeTony from Cover Magazine interviews Betty Masemula, Managing Director at Workerslife. Workerslife, a wholly black-owned insurance company established in 1996, offers both life and non-life insurance products. The company serves core markets, including pop crew members, and is expanding to reach broader audiences. Betty highlights their innovative products, such as a life insurance plan that provides monthly income without medical underwriting. Workerslife uses a multi-channel distribution approach, including face-to-face, online, and call centers. They are attending the AIE 50th celebration to enhance brand visibility and seek collaborations. Betty emphasizes their mission to provide accessible insurance solutions.
2024-09-0507 min
COVER MagazineUpskilling the Financial SectorTony from Cover Magazine interviews Abbot Pfukwa, CEO of Octomate Education, at AIE 2024. Abbot explains that Octomate, founded in 2009, specialises in education, training, and skills development, focusing on the financial services industry.
They offer programs such as learnerships, internships, and regulatory exam preparation, and have developed the RE5 Made Easy app.
Octomate also provides CPD programs and e-learning options. The company extends its offerings beyond insurance and banking, including business analysis and compliance courses. At the conference, Abbot appreciates insights on leadership and collaboration shared by esteemed speakers.
2024-09-0506 min
COVER MagazineA holistic approach to customer experience in the glass businessA chat with Damien Goodrum, Business Analyst at My Glass
2024-09-0312 min
COVER MagazineThe Role and Responsibilities of Insurers in Data SharingIn a COVER Magazine interview, Tony discusses data sharing in the insurance industry with Sharon Paterson, CEO of Infiniti Insurance, and Angus Black, Director at Barn Owl Data Solutions.
Sharon explains the regulatory and business imperatives for insurers to obtain daily data dumps and maintain full access to client information. She emphasises that accurate data is crucial for managing claims, especially in weather-related catastrophes, and for regulatory compliance.
Angus outlines the technical complexities of receiving data in various formats from different broker systems and the importance of data standardisation and cleansing. He shares that Barn...2024-09-0217 min
COVER MagazineEngineering Insurance in Africa: Building from the Ground UpCassim Hansa, a seasoned technical underwriter at Firedart Engineering Underwriters, highlighted the critical role of engineering insurance in Africa’s infrastructure development. He emphasised the dynamic nature of underwriting, where projects are often insured from the ground up. Collaboration is key, as no single insurer can manage the risks of large-scale projects alone. Hansa is particularly excited about opportunities in East Africa and Malawi, where ambitious projects like the Lake Malawi water initiative are poised to drive significant economic growth across the continent.
2024-08-2812 min
COVER MagazineThe Hidden Costs of Fraud: Beyond Financial LossesIn an insightful conversation, Jason Lane Sellers, Director of Fraud and Identity at LexisNexis Risk Solutions, discusses the growing challenges of digital fraud in financial and retail e-commerce sectors with Tony from Cover Magazine. Highlighting findings from their latest report, Jason explains how digitization has increased fraud incidents, with 52% now originating from digital channels. He emphasizes the broader costs of fraud beyond financial losses, including customer dissatisfaction and regulatory penalties. Jason also touches on the evolving nature of fraud, particularly in the insurance industry, and suggests advanced solutions like behavioral intelligence to balance security and customer experience.
2024-08-2823 min
COVER MagazineInnovation in Insurance: Cardinal's Integrated ApproachIn this insightful discussion, Tony van Niekerk of COVER, engages in a comprehensive conversation with Graham Harvey, CEO of Cardinal, a leading insurance technology provider. With over 25 years in the industry, Graham shares the journey of Cardinal’s flagship platform, C360, detailing how it stands out in an increasingly competitive market.
Tune in to learn how Cardinal is shaping the future of insurance technology by staying ahead of the curve and continuously adapting to the evolving needs of the industry.
2024-08-2821 min
COVER MagazineHarnessing AI in Insurance: Insights from Sapiens' Alex ZukermanIn an insightful interview, Alex Zukerman, Chief Strategy Officer at Sapiens, discusses the transformative role of AI in the insurance industry. He explains the evolution from traditional AI, which enhances data analysis and predictions, to generative AI, which understands human interactions and provides nuanced responses. Highlighting a strategic partnership with Microsoft, Zukerman underscores the potential of AI to revolutionize claims management, underwriting, and customer service, enhancing efficiency and accuracy. He emphasizes the importance of adaptable and innovative AI solutions, ensuring they meet current needs while being poised for future advancements.
2024-08-0615 min
COVER MagazineRevolutionizing Life Insurance Distribution: A Fresh Approach by Elevate LifeIn a conversation with Tony, Matan Abraham, CEO of Elevate Life, discusses the need for innovation in the life insurance industry, focusing on distribution and wellness rewards. Elevate Life aims to modernize archaic offerings, emphasizing comprehensive coverages and leveraging technology for streamlined onboarding. By integrating wellness data through the "Elevate me" application, they incentivize healthy behaviors, aligning insurer and client interests. Matan highlights the importance of intermediaries and how Elevate Life simplifies their role, enabling them to provide better service to clients. Elevate Life’s approach promises to revolutionize the industry, offering a fresh and efficient alternative to traditional li...2024-08-0621 min
The PEMF Podcast34. The 100 Year Old Who Has Used PEMF For The Last Decade - Longevity, Diet & PEMFThis week, 100-year-old Dorothy Smith shares her experience using PEMF. She talks about her diet, longevity, how she uses PEMF, and how it makes her feel. Additionally, she discusses the changes she has seen over the years, the importance of staying active, and her advice for the younger generation on living a long life like she has.
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The PEMF Podcast Socials & Audio Podcast:
https://linktr.ee/thepemfpodcast2024-07-2423 min
COVER MagazineEngineering Insurance in the SME LandscapeIn an insightful interview, Fergus Mc Namara, Managing Director at FDM Engineering UM, shares the journey of their 20-year-old company and the growth opportunities within the engineering insurance space
Highlighting the importance of focusing on this sector, Mc Namara points out the substantial potential for brokers, especially with government investments in infrastructure.
He notes a significant annual growth rate of around 15%, driven largely by smaller brokers serving SMEs.
Emphasizing the need for technical expertise and experience in underwriting, Mc Namara stresses the importance of collaboration between brokers and underwriters to navigate the complexities...2024-07-0918 min
COVER MagazineCelebrating Milestones: What to Expect at the 50th AIE ConferenceIn this discussion, Tony from Cover Magazine interviews Thokozile Mahlangu, CEO of IISA. Thokozile shares highlights from the first half of the year, including financial growth and the Youth Accelerator Program.
They discuss IISA’s renewal of its CII affiliation, emphasizing its importance for maintaining high professional standards.
The conversation concludes with an exciting preview of the upcoming 50th AIE Conference, which promises to be a landmark event for the insurance industry. Key topics include IISA's achievements, youth initiatives, global collaborations, and the much-anticipated AIE Conference.
2024-07-0416 min
COVER MagazineCurrent Challenges in the Group Benefits SpaceIn this discussion, Tony from Cover Magazine interviews Sheldon Friedericksen, General Manager of Group Benefits at FedGroup. They explore the challenges in the group benefits space, such as outdated benefit packages and the impact of the post-COVID cost of living crisis.
Sheldon emphasizes the need for practical steps to enhance retirement preparedness, including building trust, simplifying financial products, and supporting financial literacy.
They discuss leveraging technology and innovative approaches to provide personalized financial advice and ensure financial security in retirement.
The conversation highlights the importance of adapting group benefits to meet the evolving...2024-07-0216 min