#sanlam

[africafinancialtimes]

Allianz et Sanlam donnent naissance à une mastodonte du marché de l’assurance en Afrique.

Le groupe allemand Allianz, l’un des leaders mondiaux de l’assurance, et le groupe sud-africain Sanlam, le premier assureur en Afrique, ont finalisé leur coentreprise en Afrique, qui regroupe leurs opérations dans 27 pays du continent. La nouvelle entité, dont le nom est SanlamAllianz, est évaluée à plus de 2 milliards d’euros, soit 1 312 milliards FCFA, et représente le plus important acteur…

[billysigudla]

Press Release: Sanlam Cape Town Marathon Passes Stage 1 in AWMM Candidacy

The Sanlam Cape Town Marathon proudly announces its successful completion of Stage 1 in the Abbott World Marathon Majors (AbbottWMM) candidacy process, marking a significant milestone in its journey to becoming Africa’s first Major marathon. This achievement reflects the unwavering support of the Cape Town residents, South Africa’s entire marathon running community and the race’s collective…

[eyebamiblog]

Sanlam Flexi Edu Plus

FLEXI EDU PLUSPlan the future of your children by ensuring their education at all levels of education. See product details FlexiEdu Plus (Premium from 10,000 and above) Our FlexiEdu Plus helps every parent/guardian to plan a bright future for their child/ward, no matter the uncertainties of life. It also enables your child to achieve your heart’s desires if/when you are no longer there for…

[euginemicah]

Allianz to Increase Stake in Sanlam Kenya - Kenyan Wall Street

Allianz Europe BV, part of the Allianz Group, a global leader in insurance and asset management, has announced its intent to increase its indirect shareholding in Sanlam Kenya Plc from 23.09% to 28%. This comes following the signing of a conditional share purchase agreement with Sanlam Emerging Markets Proprietary Limited (SEM). The agreement is part of a broader partnership between Allianz and…

[global-research-report]

Empowering Communities with Comprehensive Health Insurance Solutions

The Africa health insurance market size is anticipated to reach USD 50.3 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.26% from 2023 to 2030. The advantages of healthcare insurance in private and public sectors and the increase in the number of day care procedures are some of the factors driving the growth. Furthermore, an increase in healthcare expenditure is also a major factor propelling this growth.

Improving accessibility through expanded distribution and digital innovation is a major factor driving the regional market growth.In Africa, the transition to digital channels is already underway, and with it, new demands for service quality. Many insurers are currently beginning to digitize customer journeys.This trend has been accelerated by the COVID-19 epidemic, which has increased demand for digital and remote channels. It is anticipated that this trend will continue after the crisis. In several African nations, there will probably be a net rise in online and mobile banking of between 20 and 40 percent post-crisis.

Furthermore, key companies in the Africa health insurance industry undertake various strategic initiatives such as introducing new policies, partnerships, mergers, and acquisitions to expand and adoption of their insurance policies in the region. For instance, in June 2022, Santam acquired a South African insurance startup, JaSure.JaSure provides customers with digital insurance, which allows them to decide what they want to insure and when. This initiative was expected to strengthen the company’s position in the market.

Moreover, in July 2023, Sanlam entered into a partnership with Aetna Internationalto offer Africa’s most comprehensive health insurance plan. This new insurance plan will provide a wide range of advantages, a sizable direct billing medical network, adaptable payment alternatives, and improved member experiences with local in-country assistance.

Collaboration with governing agencies and regulatory organizations to help shape and boost the market’s growth. Many African nations are already taking advantage of new legislation, which has shown to be an expanded role of broader insurance penetration.The opportunity for insurers to work with regulators on issues like social security, solvency, and compliance requirements, as well as the tax advantages of life savings and pension products, is substantial.

On the other hand, because of the need for specialist risk-management capabilities and significant investment in security and information collecting, which has left the business fragmented and dependent on foreign investment, market penetration for life insurance has been gradual. The major market share of the continent's health insurance industry is made up of five nations: South Africa, Namibia, Kenya, Morocco, and Egypt.

Africa Health Insurance Market Report Highlights

Based on distribution channels, the brokers and individual agents dominated the market and accounted for the largest revenue share of over 67.54% in 2022. Brokers and agents serve as the client's long-term representatives for the duration of the policy about any changes

Direct sales distribution channel is expected to hold a significant revenue share in the coming years owing to the high advantages of direct-to-consumer sales for insurance carriers

Based on duration, the life-time coverage dominated in terms of revenue share in 2022 owing to the wide benefits offered by these insurance plans. The advantages include building tax-advantaged cash value, the same insurance premium for a lifetime

By region, South Africa dominated the market in 2022. This is attributed to robust government support and the growing number of key players

Segments Covered in the Report

This report forecasts revenue growth at regional and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the Africa health insurance market report based on duration, distribution channel, and region:

Africa Health Insurance Duration Outlook (Revenue, Billion, 2018 - 2030)

Life-time Coverage

Term Insurance

Africa Health Insurance Distribution Channels Outlook (Revenue, Billion, 2018 - 2030)

Direct Sales

Brokers and Individual Agents

Bankers

Others

Africa Health Insurance Regional Outlook (Revenue, USD Billion, 2018 - 2030)

Francophone Africa

Anglophone West Africa

Southern Africa

North Africa

East Africa

Angola

South Africa

Order a free sample PDF of the Africa Health Insurance Market Intelligence Study, published by Grand View Research.

[aibagence]

Coupe APSAB 2024 : Sanlam Assurances remporte la 6e édition en battant Général des Assurances

Coupe APSAB 2024 : Sanlam Assurances remporte la 6e édition en battant Général des Assurances Ouagadougou, 29 nov. 2024 (AIB)-La société Sanlam Assurances a remporté vendredi soir la 6e édition de la Coupe de l’Association Professionnelle des Sociétés d’Assurances du Burkina (APSAB), en battant en finale Général des Assurances sur le score de 3 buts à 0.Sanlam Assurances s’est succédé à elle-même…

[b2bbusiness]

Namibia Insurance Market Overview

The insurance market in Namibia is a vital component of the country's financial sector, playing a crucial role in mitigating risks, protecting assets, and fostering economic stability. With a diverse range of insurance products and services, the market caters to the needs of individuals, businesses, and institutions. This article provides an overview of the Namibia insurance market, examining its structure, key players, regulatory environment, challenges, and growth prospects.

Structure of the Namibia Insurance Market

Namibia's insurance market is composed of both life and non-life (general) insurance segments, offering a wide array of products to meet the varying needs of the population. These include life insurance, health insurance, motor vehicle insurance, property insurance, marine and aviation insurance, and more specialized policies such as agricultural insurance.

Life Insurance: This segment primarily offers products that provide financial protection in the event of death, disability, or retirement. Life insurance policies are popular among individuals seeking long-term financial security and estate planning solutions.

Non-Life Insurance: Non-life insurance, also known as general insurance, includes products that cover property damage, theft, liability, and other risks. Motor vehicle insurance is one of the most common types of non-life insurance in Namibia, driven by the country's growing automotive sector.

Key Players in the Market

The Namibian insurance market is characterized by the presence of several local and international insurance companies. Some of the prominent players include:

Old Mutual Namibia: A major player in the life insurance sector, offering a range of life and investment products.

Sanlam Namibia: Another significant entity in both life and general insurance markets, Sanlam provides a variety of financial services, including insurance, investment, and wealth management.

Momentum Metropolitan Namibia: Known for its comprehensive insurance solutions in both life and non-life segments.

Hollard Insurance: A key player in the non-life insurance market, offering diverse products such as motor, home, and business insurance.

Santam Namibia: Specializing in short-term insurance, Santam provides coverage for personal and commercial lines, with a focus on risk management.

Regulatory Environment

The Namibia Financial Institutions Supervisory Authority (NAMFISA) is the primary regulatory body overseeing the insurance industry in Namibia. NAMFISA's role includes licensing insurance companies, monitoring their activities to ensure compliance with regulatory standards, and protecting the interests of policyholders. The regulatory framework is designed to ensure the stability and integrity of the insurance market while promoting fair competition and consumer protection.

Challenges Facing the Market

Despite its growth potential, the Namibian insurance market faces several challenges:

Low Insurance Penetration: Insurance penetration remains relatively low in Namibia compared to more developed markets. A significant portion of the population is uninsured, primarily due to limited awareness of insurance benefits and affordability issues.

Economic Conditions: Namibia's economy has faced challenges in recent years, including slow growth, high unemployment rates, and inflation. These economic factors can impact the affordability and uptake of insurance products.

Regulatory Compliance: While regulatory measures are essential for maintaining market stability, compliance with evolving regulations can pose challenges for insurance companies, particularly smaller firms with limited resources.

Technological Advancements: The insurance industry is increasingly being shaped by technological innovations such as digital platforms, data analytics, and artificial intelligence. Adapting to these technological changes requires investment in infrastructure and skills development.

Growth Prospects

Despite the challenges, the Namibia insurance market holds significant growth potential. Factors contributing to this growth include:

Economic Recovery: As Namibia's economy gradually recovers, the demand for insurance products is expected to rise. A growing middle class and increased urbanization are likely to drive the uptake of life and non-life insurance policies.

Rising Awareness: Efforts by insurance companies and regulators to increase awareness about the importance of insurance are expected to contribute to higher penetration rates. Educational campaigns and financial literacy programs can help bridge the knowledge gap.

Product Innovation: Insurance companies are increasingly focusing on product innovation to meet the changing needs of consumers. Customized insurance solutions, micro-insurance products, and health insurance offerings tailored to specific demographics can attract new customers.

Digital Transformation: The adoption of digital technologies is transforming the insurance industry, making it more efficient and customer-centric. Online platforms for policy purchase, claims processing, and customer service enhance convenience and accessibility, attracting tech-savvy consumers.

Buy the Full Report for More Insights into the Namibia Insurance Market Forecast

Download a Free Report Sample

[voiceofentrepreneurlife]

Shriram Life Insurance experiences margin pressure in its rural business, according to the CEO

Shriram Life Insurance, supported by the Sanlam Group and Shriram Group, is facing margin pressure in its rural business due to consistently low levels of policy purchases and renewals, according to CEO and Managing Director Casparus Kromhout.

Kromhout mentioned that 40% of the insurer’s total business comes from rural areas, and despite the margin pressure, the company remains committed to this segment. “We are dedicated to this market and are constantly seeking new solutions and strategies,” he stated.

Other life insurers experienced pressure on their margins during the first quarter of the fiscal year 2025. For instance, ICICI Prudential’s value of new business (VNB) margin fell to 24 percent from 30 percent last year, while HDFC Life’s VNB margin decreased by 120 basis points to 25 percent.

According to Kromhout, one of the new strategies for Shriram Life Insurance to draw in additional business is to implement a speedy disbursement and resolution process. He declared, “We’ll be investing in capacity to keep serving the segment better, even with lower margins.” A 12-hour settlement window for prompt payments had already been implemented by the insurer. When there is no need for an investigation, this option is selected.

The insurer recorded a decrease in net profit on an annual basis from Rs 35 crore to Rs 27 crore in Q1 FY25. Compared to the same quarter the previous year, it sold 127,000 individual insurances, a 131 percent increase.Read More-https://voiceofentrepreneur.life/

[atomxmedia]

Watch Your Health Raises $5 Million In Series A Funding To Revolutionize Health Management

A Series A fundraising round worth $5 million has been successfully raised by Thane-based healthtech business Watch Your Health. Leading the fundraising were Singapore’s Conquest Global and India’s Cornerstone Ventures. This huge investment represents a critical turning point for the firm, which is ready to grow its user base, operations, and technology infrastructure.

Strategic Use of Funds

With the recently raised money, Watch Your Health intends to expand its activities both nationally and globally. Additionally, the funds will be utilized to improve the business’s technological prowess and open the door for the development of cutting-edge health management programs.

Co-founder of Watch Your Health Ratheesh Nair stated, “With this investment, we will be able to improve our technological infrastructure, grow our user base, and introduce cutting-edge health management solutions.” Nair underlined the business’s dedication to using cutting-edge technology to deliver tailored health advice and enhance user experience generally.

About Watch Your Health

Located in the business-to-business (B2B) healthtech sector, Watch Your Health was founded in 2015 by Ratheesh Nair, Abhitosh Pandey, Jay Patel, and Prachi Shinde. To improve user experience and engagement, the startup collaborates with pharmaceutical companies and insurers. Watch Your Health uses cutting-edge analytics to deliver individualized advice for lifestyle modifications, diet control, exercise regimens, and health enhancements.

The business wants to revolutionize health care by using individualized treatment plans and AI-driven insights. Our goal is to completely change the way individuals take care of their health by utilizing individualized care and AI-driven insights. We think that early health management is essential to a better future, and this financing helps us get there,” Nair continued.

Innovative Health Solutions

Watch Your Health aims to introduce several advanced health management solutions, including electronic behavior records, mental health support, advanced predictive analytics for disease prevention, chronic disease management, and post-hospitalization care programs. These solutions are designed to offer comprehensive support to users, ensuring they receive continuous and proactive health care.

Expanding Partnerships

Watch Your Health has established partnerships with numerous healthcare providers to integrate their services into its platform. Notable partners include Watania Takaful and Shalina Healthcare in the UAE. These partnerships enhance the startup’s ability to offer a wide range of health management services to a diverse user base.

The company competes with other healthtech startups such as HealthifyMe, GOQii, Zyla, Vitality, and Sanlam. However, Watch Your Health distinguishes itself through its robust use of intelligent algorithms and AI-driven insights.

Read more: Marketing News, Advertising News, PR and Finance News, Digital News

[findjobseasy]

[ad_1] Job title: Intermediate Software Engineer (Python, Backend) Company: Sanlam Job description: The Role We are looking for a Software Engineer to design, develop and maintain key parts of the core insurance... candidate 2+ years of software development experience (e.g. Software Engineer). Bachelor's Degree in a relevant field... Expected salary: Location: Bellville, Cape Town Job date: Sun, 25 Feb 2024 03:02:46 GMT Apply for the job now! [ad_2]

[billysigudla]

Sanlam Cape Town Marathon 20 October 2024 experience by Christian Posts blog by Billy Sigudla

I came prepared for the Sanlam Cape Town marathon, the most organized road races event in the country. My performance was not as I anticipated to achieve a sub 4 hours the is my target was 3 hours 59 minutes but ended running up to 5 hours due to cramping which is the challenge that I had due to lack of oxygen in my muscles due to dehydration, I further say you need to use your voice no matter…

[eyebamiblog]

Teachers, Sanlam Cares for your Better Future.

“Supporting Our Teachers, Supporting Our Future! Introducing Sanlam’s range of products specifically designed for teachers like you! Retirement Annuity: Secure your financial future with our tailored retirement solutions. Disability Cover: Protect your income and livelihood with our comprehensive disability cover. Life Cover: Give your loved ones the financial security they…

[mgakwentongbayan]

Sanlam Loan capfin login consolidation Credit

Articles Features lengthy-expression credits Brings any monetary stability at heart Has guarantee Offers progress hand calculators Sanlam loan consolidation credits are the way if you need to combine categories of unlocked cutbacks to your 1, controlled monetary. This will help reduce your price, and it will also provide the guarantee the gives a established getting. You should understand more…

[news-locus]

News24 Business | Sanlam banks on India as South Africa struggles

[jimi-rawlings]

Patrice Motsepe - Wikipedia

Patrice Tlhopane Motsepe (born 28 January 1962) is a South African mining billionaire businessman. Since 12 March 2021, he has been serving as the President of the Confederation of African Football.[2] He is the founder and executive chairman of African Rainbow Minerals, which has interests in gold, ferrous metals, base metals, and platinum. He sits on several company boards, including being the non-executive chairman of Harmony Gold, the world's 12th largest gold mining company, and the deputy chairman of Sanlam. In 2012, Motsepe was named South Africa's richest man (excluding Elon Musk), topping the Sunday Times' annual Rich List with an estimated fortune of R20.07 billion ($1 billion).[3] Almost a decade later in 2020, Motsepe was ranked as the 1,307th-wealthiest person in the world by Forbes, with a reported fortune of US$3.1 billion.

Gigi Buffon

[voiceofentrepreneurlife]

Shriram Life Insurance experiences margin pressure in its rural business, according to the CEO

Shriram Life Insurance, supported by the Sanlam Group and Shriram Group, is facing margin pressure in its rural business due to consistently low levels of policy purchases and renewals, according to CEO and Managing Director Casparus Kromhout.

Kromhout mentioned that 40% of the insurer’s total business comes from rural areas, and despite the margin pressure, the company remains committed to this segment. “We are dedicated to this market and are constantly seeking new solutions and strategies,” he stated.

Other life insurers experienced pressure on their margins during the first quarter of the fiscal year 2025. For instance, ICICI Prudential’s value of new business (VNB) margin fell to 24 percent from 30 percent last year, while HDFC Life’s VNB margin decreased by 120 basis points to 25 percent.

According to Kromhout, one of the new strategies for Shriram Life Insurance to draw in additional business is to implement a speedy disbursement and resolution process. He declared, “We’ll be investing in capacity to keep serving the segment better, even with lower margins.” A 12-hour settlement window for prompt payments had already been implemented by the insurer. When there is no need for an investigation, this option is selected.Read More-https://voiceofentrepreneur.life/