InsureTalk 6 – shined a light on the future of risk management

InsureTalk 6, headline sponsored by Santam, was held via Zoom on Thursday, 17 September 2020. The agenda was jam packed with content-rich presentations and discussion on the Q&A board was hearty.

Professor Ralph Hamann of the UCT Graduate School of Business spoke on how Covid-19 has impacted our dependence on social ecological systems, our exposure to “unprecedented” risks and our need and ability to adapt with agility.

Thokozile Mahlangu recognised all those who make the insurance industry what it is today as part of Heritage Month.

Vuyo Rankoe, head of niche at Santam talked about The Insurance of the Future. Imagine a world where we’re not allowed to drive “manually” anymore – cars are all self-driving. What impact will that have on insurance? He posed the question: “Can we show up better for our customers?”

The sensational Betty Bangles (above) provided the entertainment for the day.

Michele Katz of InPlace Recruitment discussed the risks involved in hiring new staff before, during and after Covid-19.

Bel Tonat, head of short term insurance at Munich Re in Africa, laid bare the intricacies of hard markets versus soft markets (with a brief overview of climate risks in Africa). The graph below compares combined loss ratios of primary insurers versus reinsurers in South Africa.

Cyber security expert Simon Campbell-Young CEO of My Cyber Care chatted about the rise and rise of cybercrime in South Africa and the various mitigation tactics that companies can employ to minimise the risk of becoming a victim. Among other fascinating bits of information, Simon shared the following ransomware timeline:

FIA CEO Lizelle van der Merwe closed proceedings with a high level overview of the fantastic work the FIA is doing on behalf of intermediaries across sectors.

A big thanks to Simon Colman of SHA and The Insurance Apprentice for once again hosting an outstanding conference.

InsureTalk7 takes place on 15 October 2020. Book here. A 10% early bird discount applies until 19 September.

InsureTalk is brought to you by CN&CO, with headline sponsorship from Santam.

Watch the recording of InsureTalk 6 here.