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Tag Archives | statistics

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Local CIS industry sees record net inflows despite Covid-19 woes

The Association for Savings and Investment South Africa (ASISA) recently released the Collective Investment Schemes (CIS) industry statistics for the quarter and year ended September 2020. South African investors committed R57 billion in net inflows to local Collective Investment Schemes in the third quarter of this year, bringing to R165 billion the total net inflows for the […]

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Annual death claim benefit statistics – Beneficiaries receive almost R17 billion

The 2019 annual death claim benefit statistics for fully underwritten individual life policies, released last week by the Association for Savings and Investment South Africa (ASISA), show that life insurers received 27 547 claims and paid 27 304 claims, representing 99% of claims received, down 0.7% from 2018. Life insurers declined 243 claims, which represent only 1% of […]

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Sanlam claims statistics – Heart disease leading cause of claims

According to the just-released claim statistics of Sanlam, cardiovascular disease, cancer and accidents remain the leading causes of claims and the company is urging clients to futureproof their financial lives. Cardiovascular disease as a cause confirms data in the recently released Old Mutual statistics where the proportion of heart attack claims also increased by 113% […]

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Old Mutual Claim Statistics – Sharp increase in heart attack/psychiatric disorder claims

According to the just-released claim statistics by Old Mutual, the proportion of heart attack claims have increased by 113% since 2016, moving heart attacks from being the least claimed ‘Big 4’ illness to the second spot. According to the Old Mutual statistics they paid out R11.3 billion in personal cover claims in 2019. These pay-outs include […]

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ASISA publishes claims statistics – Spike in fake death claims, decrease in non-disclosures

According to the 2018 consolidated statistics of fraudulent and dishonest claims, published by the Association for Savings and Investment South Africa (ASISA), fraudulent and dishonest insurance claims decreased, but still remain a serious problem. Life insurers specifically reported a huge spike in fraudulent death claims. In 2018, South African life insurers detected a total of […]

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FAIS Ombud Annual report – Unpacking the statistics

During the financial year the OFO received a total of 9323 new complaints, a reduction of 8.7% from the 10 211 received during the 2017/2018 financial year. However, the OFO finalised 9954 complaints, 6.8% more than the total amount received during the financial year. This is of course as a result of complaints carried over from […]

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How dashcam solutions can reduce fraudulent claims

In the light of increasing fraudulent insurance claims, Laurence Smith, executive at Graphic Image Technologies, explained to IT-Online how next-generation dashcams reduce these fraudulent claims. “Dashcams are now equipped with smart sensors that are capable of registering and recognising trigger events, such as sudden stops, sharp acceleration, or collisions. These devices are capable of automatically […]

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