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"_Insights to feed your career: A Deep Dive into Diverse Topics
Shaping Financial Services and insurance, today and into the future_"

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In today's newsletter we delve into pressing topics shaping global
insurance landscapes and risk management strategies.

Don't miss our professional perspective's where we explore the safety
of commercial shipping, scrutinizing recent incidents and their
implications for supply chains, presented by Allianz's Captain Rahul
Khanna.

Then, we uncover insights from Swiss Re Institute's report on the
surge in insured losses due to natural catastrophes, underscoring the
urgency for climate action.

Finally, Schalk Fischer of TransUnion South Africa sheds light on
South Africa's cost-of-living crisis and its impact on insurance
trends, offering valuable perspectives for insurers navigating
challenging economic climates. 

 [COVER Editorial team] 
  

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 [Thriving in the age of Agile - TechFest 2024]
[https://cover.cmail19.com/t/d-l-ejhlkkk-tuxkulyjy-j/] 

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GROW ENGAGEMENT & DRIVE TRAFFIC TO YOUR BRAND THROUGH COVER
MARKETPLACE

Leverage COVER'S decades _of insurance knowledge and brand building
acumen to showcase your company._  ✉️ _Email us _to find out
how you can grow your brand

_#KnowledgeShared #BrandBuilding_

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PROFESSIONAL PERSPECTIVES

  

  

DATA INSIGHTS HELP TO ENSURE GROWTH FOR INSURERS AS CONSUMERS CUT
SPENDING 

Schalk Fischer, Insurance Vertical Sales Leader at TransUnion South
Africa, discusses South Africa's cost-of-living crisis impacting
disposable income, with a 14-year low recorded. Insurers face
challenges as insurance becomes a discretionary cost, leading to
cancellation trends, declining enquiries, and premium increases for
financial stability.

_READ ARTICLE_ [https://cover.cmail19.com/t/d-l-ejhlkkk-tuxkulyjy-t/]

  

AN IN-DEPTH LOOK AT THE BALTIMORE BRIDGE COLLAPSE 

Allianz's Captain Rahul Khanna delves into the safety of commercial
shipping, post the Francis Scott Key Bridge collapse. While rare,
incidents raise concerns amid increasing vessel sizes. Implications
extend to supply chains and insurance, spotlighting challenges in
maritime infrastructure and regulation.

_READ ARTICLE_ [https://cover.cmail19.com/t/d-l-ejhlkkk-tuxkulyjy-i/]

  

  

NEW RECORD OF 142 NATURAL CATASTROPHES ACCUMULATES TO USD 108 BILLION
INSURED LOSSES IN 2023  

Swiss Re Institute's latest report reveals 2023's natural
catastrophes, with USD 108 billion in insured losses, driven by
earthquakes, storms, and floods. With a 5–7% annual growth in losses
since 1994, urgent climate action is needed for mitigation and
adaptation.

_READ ARTICLE_ [https://cover.cmail19.com/t/d-l-ejhlkkk-tuxkulyjy-d/]

  

QUOTE OF THE WEEK 

> IT in the Financial Services sector has rapidly come out of the back
> room to occupy the forefront of operations at banks, asset managers
> and insurers as they escalate digital transformations to meet
> customer expectations. - _GUY KRIGE, EXECUTIVE RISK CONSULTANT AT
> ESCROWSURE _

  

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 [More features than spots on this Leopard - OWLS Software]
[https://cover.cmail19.com/t/d-l-ejhlkkk-tuxkulyjy-h/] 

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READ OUR LATEST EDITION OF COVER

  

APRIL 2024 EDITION 

Doing business in South Africa is challenging due to high crime, poor
basic services, and slow economic growth, exacerbating unemployment.
The insurance industry safeguards against unforeseen events, fostering
small business sustainability and prosperity. Insurers also bear a
social responsibility to expand comprehensive coverage, especially for
SMMEs, as highlighted in our SMME feature in this edition.

 DOWNLOAD IT HERE
[https://cover.cmail19.com/t/d-l-ejhlkkk-tuxkulyjy-k/] 

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TRENDING NEWS

  
 [With more muscle now, Renasa is the Brokers even better best friend]


COMPOUND INTEREST AND THE RULE OF 72

Roné Swanepoel, Head of Sales at Morningstar South Africa who shares
insights on Compound Interest and The Rule of 72, painting a
compelling picture of the importance of saving, and in particular,
saving early on. - _READ ARTICLE_
[https://cover.cmail19.com/t/d-l-ejhlkkk-tuxkulyjy-u/]

LOCAL INVESTORS FACE DILEMMA AS MOMENTOUS SA AND US ELECTIONS PROMPT
WAIT-AND-SEE RESPONSE

From the looming threats of a formation of a coalition government with
some calling that a sign of a maturing democracy to trump calling for
the end of the Bidenomics and the reintroduction of the Maganomics,
all these political dribbling’s are expected to have a marked impact
on our markets. So where does this leave asset managers? - _READ
ARTICLE_ [https://cover.cmail19.com/t/d-l-ejhlkkk-tuxkulyjy-o/]

WHO LET THE CATS OUT?

The sheer number of weather-related catastrophes over the past few
years, and last year in particular, has shaken the foundation of the
insurance market, signalling a looming crisis. Can insurance still be
counted on to pick up the pieces when things fall apart? The ominous
rumblings of climate change have reached the insurance industry's
doorstep, and the forecast is troubling. - _READ ARTICLE_
[https://cover.cmail19.com/t/d-l-ejhlkkk-tuxkulyjy-b/]

  

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 [Farming with the sun or the land? - Santam]
[https://cover.cmail19.com/t/d-l-ejhlkkk-tuxkulyjy-n/] 

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ARE YOU COVERED AGAINST THE RISK OF CIVIL UNREST?

South Africa remains challenged from a socio-economic perspective,
with low economic growth, high unemployment, and rampant inequality. A
knock-on impact of this is that the risk of strikes, riots and other
forms of unrest unfortunately cannot be ignored. Karen Rimmer of PSG
Insure, emphasizes the fact that commercial insurers do not usually
cover these risks. - _READ ARTICLE_
[https://cover.cmail19.com/t/d-l-ejhlkkk-tuxkulyjy-p/]

THE IISA IS NOW A CHARTERED INSURANCE INSTITUTE AFFILIATED INSTITUTE 

The IISA is delighted to announce the successful renewal of our
affiliation status with CII affiliated institute. As a Chartered
professional body of more than a century’s standing, the CII –
supported by its Societies – grants Chartered titles to individuals
and organisations that meet a strict qualifying criterion. - _READ
ARTICLE_ [https://cover.cmail19.com/t/d-l-ejhlkkk-tuxkulyjy-x/]

  
 [Reimagine your retirement. Let certainty and flexibility meet -
Momentum] [https://cover.cmail19.com/t/d-l-ejhlkkk-tuxkulyjy-m/] 

  

MOTOR BODY REPAIR SECTOR WELCOMES FIRST SET OF GRADUATES

The first cohort of 22 graduates were honoured this year following a
three-year artisan development programme at the C3 Auto Body Repair
Academy in Bloemfontein, in partnership with motor body repairers in
Bloemfontein and Johannesburg,  where learners followed a rigorous on
the job programme. - _READ ARTICLE_
[https://cover.cmail19.com/t/d-l-ejhlkkk-tuxkulyjy-c/]

  

 [https://cover.cmail19.com/t/d-l-ejhlkkk-tuxkulyjy-q/] 
  

INSURANCE IN NUMBERS 

The Insurances market in South Africa is PROJECTED TO REACH A GROSS
WRITTEN PREMIUM OF US$82.07BN IN 2024. The market is dominated by Life
insurances, with a projected market volume of US$52.59bn in the same
year. On average, individuals in South Africa are expected to spend
US$1.35k per capita on insurance in 2024.

  

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