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Key trends disrupting the insurance sector

“As exponential, digital-driven technologies transform the 4^th Industrial Revolution (4IR) from a buzzword into reality, the financial services sector –
and insurance in particular – face massive disruption, it starts with a radical reimagining of the very model insurance has been built on since its origins in the 14^th
Century, and Africa is no exception..” Read more

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President’s Golf Day 2019

The annual IING President’s Golf Day was once again contested amongst fellow insurance players on the 7th of May 2019 at Wingate Country Club, Pretoria East. The greenkeeper at Wingate Country Club (Mr. Pieter Cooper) has yet again presented the players with a wonderful course set up and conditions made for superb scoring on the day. The format on the day was: Fourball Alliance with one (1) score to count and scramble drives on all Par 4’s and 5’s. With that being said – the players really had to dig deep and assist one another and the scores on the day is evident of same with the prizes for the Top 3 (Three) Fourballs going to... Read more

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Remote-jamming, don't become a statistic

- Mike Borello on behalf of Altech Netstar 

The ever-present warning signs of remote-jamming at shopping malls, petrol stations and roadside stalls is a constant reminder of the very real threat of crime in South Africa. Perpetrators of car break-ins are rarely caught, making it one of the most common crimes in the country.  “If you haven’t been a victim of remote jamming, chances are that you know someone who has,” says Mike Borello, Operations Executive at Netstar, the pioneers of vehicle tracking and recovery in South Africa. “Furthermore, as there is often no damage or signs of a break-in, insurers can refuse to cover the stolen items,” he adds.....Read more

 

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Constantia Broker Roadshow, face to face with the future

- Barry du Plessis

“The Constantia Insurance Company completed its nationwide roadshow in April and May, visiting four of the major cities in unique venues across South Africa, to share the Group’s values with brokers, but also to discuss the challenges and opportunities in the insurance industry.  Among the main talking points that surfaced in these discussions was the need for a fresh approach to insurance, which includes different, more personalised insurance solutions. Regulations, the tough economy, and the Fourth Industrial Revolution were other important matters discussed.  “An event such as this, at which we can get personal with brokers and hear about not only the positives but also address the issues, is vital for any company to grow and evolve,” says Barry du Plessis, Regional Manager for Gauteng North at Constantia Insurance. “It allows us to allay any fears that may have arisen from hiccups in the past, but also to take note of what we did right and build on this,” he says. “In talking with brokers and digesting their feedback, we have been able to make available more of our products on a wider variety of platforms.”

 Meeting with business partners continuously, especially in a relaxed environment, inspires new ideas and gives insight and perspective of what is happening at ground level, Du Plessis explains. “It is important that brokers get the chance to connect with senior management and meet other Constantia brokers. In doing so, they gain access to information about new products and learn about company plans and goals,” he says.

 The positive turnout is an indication of a vibrant broker sector in which opportunities to grow are numerous, says Du Plessis. “In my experience over the last 25 years, people deal with people they know and trust, and it continues to be the case. We are excited about the future and the possibilities in insurance, and we share this passion for the industry with our brokers, who are equally hungry for opportunities to grow,” he concludes.”

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IING Tenpin bowling event.

Our popular yearly event was as usual sold out, a night filled with laughter and good company. 

Thank you to Tracker for sponsoring the event.

The theme was to dress as the first letter from your company, everyone played along, and you all looked so fantastic.

Our Tenpin winners for 2019 was Alexander Forbes. (they got some skill)

Best dressed was the Netstar Nerds.

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CPD Training – Business Interruption Workshop

The IING held its 4th CPD event for 2019 on the 10th and 11th of July at King Price.   The workshop was held over 2 days and both days were fully booked, attendees included brokers and insurers. Training was done by Elmarie de Wet from EJW Financial Services. The Business Interruption workshop, was a hands on training session and offered 6 CPD points.  We do believe that this workshop added value.  This hands on workshop gave a better understanding of Business Interruption calculations and to provide the correct advise to clients. We will definitely consider doing such hands-on workshops in the future again.. See more.

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Executive Whisky & Gin Evening

We hosted our annual executive whisky and gin tasting evening on the 25^th July at Moonshot Café in Menlyn.

This was a sold out event, and our largest to date with just short of 40 executives joining us for this exclusive event.

The evening was hosted as always by The Whisky Rebellion. For the whisky tasting our theme was East vs West, and we had the opportunity to taste some Japanese, Taiwanese and Indian whiskies from the East, and some Irish, Scottish and good old American bourbon from the west.  This year we decided to also include a Gin option for those that don’t drink whisky, and they had the opportunity to taste 6 amazing gins. The evening was a huge success  and we are looking forward to seeing what Sean and Rachel from The Whisky Rebellion will offer us next year! ...See pictures

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Ensuring the sustainability of SME's in South Africa

Gerald Van Wyk, Santam Market and Business Development Executive and Hanlie Kroese, Santam Market Development Manager

When small and medium-sized enterprises (SMEs) are thriving it benefits the whole nation. Smaller businesses play an invaluable role in driving economic growth and employment opportunities and are a source of innovation.

In South Africa, SMEs contribute a third of GDP and employ more than half of the labour force. Unfortunately, there is a very high failure rate among SMEs - between 70% and 80% of small businesses close their doors in the first three to five years.

Some of the most significant challenges faced by local SMEs include lack of access to markets, finance, skills and mentorship, burdensome regulatory and tough economic conditions and strong competition.

At Santam, we remain positive about the role of SMEs in the SA economy and the enabling environment that is being created by government. There is always room to make it easier to build a successful business but we definitely see a more favourable policy environment emerging which will hopefully help create a thriving and vibrant SME space which is supportive in terms of enabling regulation around taxation as well as labour laws, funding, procurement opportunities and business mentorship...Read more

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Upcoming Events

19^th September – CPD Training – Insurance Fraud Awareness
 

Insurance Fraud and Cyber Crime

Guest Speakers - Garth de Klerk and Simon Colman

- 4 CPD hours

RSVP by 5 September - Click here

 

24^th October – IING Year End Function (Save the date)

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Industry News

Combating insurance fraud using technology

15 August 2019Myra Knoesen

The key priorities for the South African Insurance Association’s (SAIA) Motor Insurance portfolio is to adequately and substantially address the affordability of comprehensive vehicle insurance, to contribute to road safety in South Africa and to decrease vehicle crime.

The Insurance Crime Bureau (ICB), through bringing together the collective resources of insurers, law enforcement agencies and other stakeholders to facilitate the detection, prevention and mitigation of insurance crimes, assists SAIA and insurers in addressing vehicle crime in various ways...Read more

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