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Author Archive | Janine Geldenhuys

Non-Disclosure

The crown of peace

A closer look at the background to non-disclosures The “Momentum debacle”, as it became known in the media, has certainly drawn a lot of public and media comment and interest. Many a commentator used it as a convenient whip to lash the insurance industry. The more balanced reports pointed out that the decision to refute […]

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algorithm

Machine-learning algorithm beats 20 lawyers in NDA legal analysis

LegalBrief recently shared a Techspot article that reported that while most of the jobs that get displaced by computers require little or no education, even highly-educated positions could be replaced by automation: “A recent study by LawGeex pitted its machine-learning AI (Artificial Intelligence) against 20 human lawyers to see how it would fare analysing contract […]

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Incentives

Behaviour change study on physical activity – Incentives do play a role

A recent study showed unique insights into how incentives drive sustained behaviour change. According to the results of a ground-breaking new health behaviour study by RAND Europe, a leading independent research institute, financial incentives in Vitality’s Shared-Value Insurance model combined with Apple Watch led to a sustained 34% increase in people’s physical activity levels. The […]

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annuity

Draft Conduct Standard for default living annuity options

The Financial Sector Conduct Authority (FSCA) has released a draft conduct standard proposing new maximum drawdown rates determined by age band and gender for default annuities or monthly pensions offered by funds. The draft Conduct Standard is open for public comment until 14 January 2019. The recent documents for consultation contained: 1. The Draft Conduct Standard on […]

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treasury

NHI – Treasury announces ‘substantial’ progress

The South African National Treasury announced on Friday that it has made “substantial” progress on the national health insurance (NHI) Bill consultation in key areas and have reached agreement on most of the major issues. This statement was made in response to a so called “leaked letter” and its annexure that specified a number of […]

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information

Always obtain and capture all the client information

FAIS Ombud Settlement – Always obtain and capture all the client information One of the settlements discussed in the latest FAIS Ombud Annual report also puts the emphasis on the disclosure of client information. Disclosure of medical conditions Mr O purchased a credit protection policy subsequent to having bought a vehicle. The main purpose of […]

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Non-disclosure

Non-disclosure drama

Non-disclosure drama – Tips on the broker’s role to ensure a better outcome at claim stage In the midst of a raging social media war, journalists writing about the pros and cons of the final outcome (or is it?) and PR companies using the Momentum case as “lessons learnt” exercise, it’s important, although difficult, to […]

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