Tag Archives | Best Practice


Validity of lapsing of a policy – When does repudiation apply?

An insurer’s obligations concerning the lapsing of a policy was recently the subject of an investigation by the Long-term Ombud, following the repudiation of a claim. “Repudiation involves disputing the validity of a contract and refusing to honour its terms. Repudiation is therefore conduct which shows the clear and explicit intention of the party concerned […]

Continue Reading

TCF in Practice

Treating customers fairly may be the new buzzword, but it has been applied in the industry for quite some time now. A perfect example of this comes from a formal ruling made by the Short-term Ombudsman four years ago when it found against an insurer for adopting a practice which the Ombudsman felt “…was out […]

Continue Reading

How Productive are you?

The results of two surveys in the financial services industry were recently published by CoreData, a firm who conducts research in banking, mortgages, retail saving, pensions, asset management and the financial advisory sector. In January 2014, a report titled Adviser Efficiency – Business Processes in South Africa, provided data on the way we do things […]

Continue Reading

Consumer Expectations from TCF

There was a time when actuaries at product houses spent endless hours developing a product, packaging it, and then sending it to the marketing division with the message: “Go out there and find customers for it”. Hopefully, they have since learnt that you have more success if you determine a need first, and then create […]

Continue Reading