A note from the President’s desk

I cannot believe that we are at the end of 2019 already.  From my side it has been an amazing journey with the institute this year as President.  As a team we decided to re-look at our membership offering, to see if we could package something that was both meaningful and cost effective for our members. I am happy to say that the new structure has been very successful and largely contributed towards our success this year.

We have had a year packed with events. We started the year off with some fun and introduced our first ever Pub Quiz evening. It was loads of fun, and no, we don’t quiz you on your insurance knowledge lol.  We also had our usual ladies golf day, tenpin bowling, whisky & gin evening and ladies day event which I am happy to say were all fully booked! We also offered a record 23 CPD hours over four training events throughout the year. Watch this space for our 2020 CPD events, we are hoping to host more workshops in the coming year.

As mentioned at our year end function, it’s all fine and well to tell you how successful our events have been, but these events involve a lot of planning, which would not be possible without the time dedicated by the committee members. As you know we are all volunteers on the committee, so I would like to take this opportunity to personally thank each and every member on our 2019 committee, and the insurer/brokerage/corporate who allowed their staff to serve on the committee. None of this would be possible without the people in the background making the magic happen!

We will be hosting a membership breakfast mid-January again (date to be confirmed) and hope that you will be able to attend to see what we have on offer for 2020. We have made a few tweaks to the packages based on feedback received from our members.

In closing I would like to thank you all for your invaluable support this year, we are here to serve you.  Wishing you all a well-deserved break, a blessed festive season, and an amazing start to 2020!! 

EVENTS
 

Annual Egoli Challenge 2019

The Annual Insurance Institute Egoli Golf Challenge was held on the 16^th and 17^th of October this year.

It was the turn of the Institute of the Free State to host the event this year and it  was held at the Bloemfontein Golf Club.

The event was well attended by teams from the IIFS, IIG, IING, IIKZN and we were also joined by a team from the IIWC  this year .

The day was won by the team from the IIFS. On behalf of the IING we would like to congratulate the Institute of the Free State on their achievement.

The event was well organised and fun was had by all at the welcome dinner held at Mozambique restaurant followed by the golf the following day.

The IING was represented by Johan Prinsloo, Stefan De La Ray, Reinhardt Reichel, Carl Hugo, David Hugo, Gerrit Venter, George Lubbe, Jean Joubert, Marius de Bruin, Dawie Van Der Linde and Richard Cowper.

The team from the IING was sponsored by Hollard, Tracker and the Institute of the Northern Gauteng. We would like to sincerely thank  Hollard and Tracker for their sponsorship and continued support for the Egoli challenge.

The Egoli challenge comes back the Northern Gauteng in 2020 and the IING will be hosting the event and we look forward to seeing all the teams  that attended the 2019 event.

~ Richard Cowper

The future of car insurance is here. Well, almost.

By Gideon Galloway (King Price)

If the crystal ball-gazers are to be believed, hardly any of us will own our own cars in the next 10 years. We won’t even do our own driving, as fleets of self-driving cars whoosh us silently to where we want to go. And as car ownership plummets, the car insurance industry will collapse in on itself. Another legacy wreck on the side of the highway of progress.

Or not.

Look, I love a bit of disruption as much as the next guy. But I think we need to slam the brakes on for a moment here. For a start, car insurance isn’t going away. As long as there are cars on the road – or in the air, for that matter – they will need to be insured. Will the risks change? Absolutely. But where there’s change, there’s opportunity.

Let’s take a look at some of the trends we see playing out in the next few years......

Ladies Day Event 2019

The IING Ladies Day event was held at Lombardy Boutique Hotel. It was a lovely, sunny afternoon with wonderful speaker Tersia Davies. She shared many insights and also many laughs!

Peace and love was the theme and everyone made sure they dressed for the Groovy occasion! Delicious snacks and Gin tasting was the order of the day.

Thank you to all ladies who attended and made this event such a success. We look forward to seeing you again next year!

PG Glass – The evolution of cars and automotive glass

The automotive industry, in particular, is experiencing a massive amount of change. Many believe that driverless cars are inevitable in our automotive future, although the technology looks to be quite far off. The driving force for this technology is propelled by projections of safer travel with less road deaths and injuries; most vehicles are now being manufactured with ADAS (Advance Driver Assistance Systems), installed in the vehicle.

Insurers are observing within interest at how the new technologies could potentially reduce premiums when safety benefits are proven. To date, the focus of telematics solutions has been on improving the risk profile of drivers, particularly the young and inexperienced.

Windscreen technology is showing real promise in the area of night vision. That would revolutionise the industry, and it’s something people would be willing to pay an incremental cost for in order to gain that capability.

Currently in South Africa with the new technology there are certain cars that know where they are going and how to get there. Technology package for some vehicle that comes with Heads Up Display that can project the following in the vehicle and driving-related information depending on the model of the vehicle:

• Road Speed
• Speed Limits
• Overtaking Restrictions
• Check Control messages
• Vehicle Status
• Warning Messages
• Navigational Turn-By-Turn Directions
• Telephone and Call Information
• Lane Guiding

Safety technologies are constantly evolving. There are several studies that found various safety technologies including forward collision avoidance, adaptive headlights and park distance control could lead to a 30% decline in claim frequency. Further research also showed a 44% drop in insurance claim frequency in cars fitted with collision avoidance systems......

IING Year-end Feast

We were delighted to host our Annual Year-end function on the 24th of October at the beautiful Kleinkaap Boutique Hotel in Centurion. Everyone dressed to impress in their Medieval outfits – what an impressive bunch of people!

The IING took the opportunity to thank all our Members as well as the Committee for their hard work throughout the year. We had such great attendance and it was wonderful ending the year off at such a fantastic venue with so many industry colleagues.

We were honoured to be joined by the CEO of the IISA, Thokozile Mhalangu. She gave an empowering speech in which her knowledge and expertise shined through. We would like to thank her again for her time.

The IING has chosen GIVE THEM HOPE Foundation this year, the charity received R10,000 from the IING and Auto & General has also given R10,000 for the foundation. Thank you Auto & General, we also want to thank Glasfit for also donating much needed gas bottles, stoves and pans.