June 8, 2022
Insurance value chain reverts to fundamentals
Insurers and reinsurers in South Africa have introduced revamps in areas such as claims and underwriting.
Insurance
Working to prove their value to customers, insurers are harnessing technology to improve service, pricing and relationships
Life insurance markets are characterised by significant country-by-country variation. Companies are grappling with regulation and the continued but shifting need for effective intermediary distribution.
In P&C insurance engagement models vary with intermediation still vital in commercial, and direct purchase more prevalent in personal lines. Technology is reshaping everything from telematics to geomatics and implicit and predictive pricing through AI. This is driving further disruption, including the potential for risk capabilities to be delivered outside insurance.
NMG Consulting works with P&C and life insurers to help them differentiate through innovation whilst skillfully managing regulatory change and intermediary relationships.
To access NMG’s deep pool of insurance expertise contact one of our key consultants below.
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Mark Prichard
Industry:
Mark heads up NMG Consulting, and is a co-founder of the NMG Group. Across a global scope, he helps NMG’s insurance and reinsurance clients with business strategy, performance benchmarking, and distribution strategies.
Sydney
Rod Leerkamp
Industry:
Rod is responsible for NMG’s healthcare actuarial and consulting practice in South Africa. He has extensive experience in the South African healthcare market providing actuarial and consulting advice to a wide range…
Cape Town
Hamish Worsley
Industry:
Hamish is responsible for NMG’s global insights practice. He has extensive experience in the asset management, wealth management and insurance industries, particularly in areas of distribution strategy…
Perth