COVER Magazine

In 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.

In 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. 

In 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 this complex environment.

In 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. 

Tony 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. 

At 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 economics. 

At 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. 

Tony 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. 

Tony 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 market. 

In 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.