Absa analysis shows changing price, growing competition and shifting consumer preferences are redrawing traditional vehicle segments Affordability is driving a structural shift in South Africa’s vehicle market, with SUVs gaining significant ground as consumers increasingly seek competitively priced, well-equipped vehicles. An analysis of 2.56 million new and used vehicle finance applications processed by Absa Vehicle […]
As South Africa marks World EV Day on 9 September, the country’s growing adoption of electric vehicles is highlighting how dramatically vehicle technology is changing the motor body repair environment. Electric vehicles (EVs) and plug-in hybrid electric vehicles (PHEVs) have become an increasingly familiar sight on South African roads. Motorists are discovering that repairing these […]
From severe flooding and storms to record-breaking heatwaves, climate-related disruptions are affecting flights, accommodation providers, and transport networks around the world with increasing frequency. As South Africans prepare for their long-awaited year-end holidays and continue to travel internationally for business, these extreme weather events are adding a new dimension of risk to some popular global […]
South Africa loses nearly half (47.3%) of all municipal water supplied through leaks, infrastructure failures and other non-revenue losses, while copper theft is estimated to cost the economy more than R45 billion a year and road maintenance backlogs exceed R197 billion. Due to the increasingly interconnected nature of South Africa’s infrastructure systems, these issues rarely […]
Andrew Nkgare, Executive Head of Broker Solutions at Santam, explores how insurance intermediaries are helping businesses move beyond risk transfer towards a more proactive approach to resilience The past several years has demonstrated just how quickly separate risks can combine and amplify one another. In relatively close succession, South African businesses have had to contend […]
The escalating conflict involving the US, Iran and Israel highlights the impact geopolitical instability can have on global trade and by extension, South African businesses and their insurance cover. According to Ryno de Kock, Head of Distribution at PSG Insure, geopolitical conflicts have a direct implication on how insurers assess risk, particularly where trade routes, sanctions […]
Insurance is meant to be your safety net, but for some policyholders that net unravels when it matters most. The Non-life Insurance Division of the National Financial Ombud Scheme (NFO) says too often people discover after a fire, flood, or theft that the payout they receive is far less than expected because the value of […]
If your insurance could pull up a chair at your kitchen table tonight… What would it ask you? Would it quietly clear its throat and say, “Are we still on the same page?” Wynand van Vuuren, client experience partner at King Price Insurance, answers the questions your insurance would ask if it had a voice: […]
Johannesburg – An insurance concept that often gets misunderstood, despite underpinning every insurance policy, is insurable interest. While it might sound technical, Willem Coetzee, CEO of Zenith, says the principle itself is quite simple. “Simply put, you can only insure something if its loss or damage would cause you a financial setback,” Coetzee explains. “So, if […]
