COVER Magazine

In this conversation, Tony from COVER speaks with Michele Jennings, CEO of glu, the newest division of PPS designed to expand mutuality beyond graduate professionals. glu is a tech-driven, profit-sharing financial services brand targeting digitally savvy individuals aged 25-55. Michele shares how glu’s vibrant identity, cutting-edge technology, and innovative profit-sharing model differentiate it...

Join Kresantha Pillay, Chief Specialist for Risk Products at Liberty, as she delves into the emotional and financial challenges surrounding critical illness, especially cancer. Discover how Liberty’s innovative products, like the Cancer Claim Booster and Critical Illness Booster, offer much-needed financial relief during these life-altering events. Kresantha highlights the importance of proactive...

In a conversation with Cover Magazine, Jaco Mostert, Group CEO of Workers Life, discussed the challenges and opportunities in the insurance industry for 2024 and beyond. He highlighted the global gap in insurance, driven by inflation, distribution issues, and lack of access to coverage. Jaco emphasized the importance of making insurance products accessible and affordable for middle to lower-income...

In this discussion, we sit down with Ian Georgeson, CEO of Cross Country Insurance, to explore the company’s role in South Africa’s specialist insurance market. Ian shares the journey of building a 27-year legacy in marine and 4x4 insurance, catering to adventurers and outdoor enthusiasts. From tackling unique challenges like underinsurance and equipment failures to fostering community through eve...

In this conversation, Martin Muller, Business Development Consultant at Medihelp, emphasises the importance of financial advice in healthcare funding. He explains the critical differences between medical aid and insurance, noting that while medical aid covers a vast array of conditions without limits, insurance policies often have caps. Muller also discusses Medihelp's efforts to create affordable...

Shaun Ruiters, CEO of PPS Investments, shares insights on his first year leading the company and how PPS focuses on empowering South Africa’s graduate professionals.   Ruiters highlights the evolving role of multi-management, shifting towards more tailored solutions for different client needs. With rising interest in passive investments, both globally and locally, PPS has embraced innovation while...

AI is a hot topic in insurance, but real digital transformation goes far beyond just implementing AI tools. Graham Harvey, CEO of Cardinal, emphasises that insurers must start with business needs—such as fraud prevention and process automation—before determining if AI is the right solution. Legacy systems remain the backbone of insurance operations, and integrating AI requires collaboration with s...

The 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 set...

KEU, 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 highli...

Sachin 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 growi...

In 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 insur...

Momentum 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 re...

Jade 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...

Nic 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 innov...

Jephita 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 re...

Join 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 satis...

In 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, a...

Jane 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 pres...

Adrian 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,...

Marcus 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 reg...

Graham 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...

oin 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 the...

In 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, enhan...

In 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 un...

Natasja 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...