Customer sentiment towards insurers improves despite claims frustrations
King Price came out top in DataEQ’s latest Insurance Sentiment Index, which analyses what consumers are saying about their insurers.
Discovery
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Discovery announces 2025 contribution increases: average hike of 9.3%
Discovery Health Medical Scheme’s contribution adjustments will be more evenly distributed across its members, highlighting the widespread effects of increasing medical inflation on contribution rates.
FIA Intermediary Experience Awards: familiar faces shine
Long-standing winners such as Western National and Santam retained their titles, while iTOO re-emerged as the Underwriting Manager of the Year.
Will medical schemes adhere to an inflation-linked tariff hike?
The Council for Medical Schemes has advised medical schemes to limit their contribution increases for 2025 to 4.4% plus ‘reasonable’ utilisation estimates.
Discovery gap cover advert ‘should have made the waiting period explicit’
The ARB says the advert is misleading because it did not make it clear that the maternity benefit came with a 12-month waiting period.
Final report on racial profiling allegations ‘to be released soon’
Nearly four years since the investigation into allegations of racial profiling began, the Council for Medical Schemes has indicated that the final report is almost complete.
Medical schemes assure members that NHI is a long way off
The expected legal challenges to the legislation and the pressure on the state’s finances could delay full implementation of the system for many years.
Medical schemes experience significant drop in net results for 2022
In 2022, the industry saw a net income of R2.57 billion – down from R12.18bn in 2021 – and faced an operating deficit of R6.155bn, the largest in 23 years.
Court orders Discovery to deduct maintenance payments from defaulter’s RA
The existence of the RA funds demonstrates that the husband was able to pay the arrear maintenance, judge says.
Financial services group highlights the role of the private sector for NHI to work
Adrian Gore says private sector funding is essential to maintain the quality of the healthcare system.
Life insurance industry stages a remarkable comeback
Life insurance companies have defied the odds, bouncing back with impressive results in 2022, KPMG’s South African Insurance Industry Survey 2023 finds.
Monday briefing: a round-up of recent financial services news
UT managers fight for market share | Coronation faces huge tax bill | MyMo accounts scandal | Insurance fraud | Discovery’s interim profits
Monday briefing: a round-up of recent financial services news
Pawn-while-you-drive warning | Guardrisk insurtech platform | OM buys digital wills start-up | Investec outperforms Alsi
Which medical scheme has the most satisfied members?
Survey compares Bestmed, Bonitas, Discovery, Medihelp and the Government Employees Medical Scheme.
Vastly different financial results from Discovery’s insurance arms
Discovery’s long-term and short-term insurance arms delivered contrasting performances in the group’s 2022 financial year, with Discovery Life’s normalised operating profit surging by 200% and Discovery Insure’s tanking 165%, driven mainly by the […]
‘Raids don’t mean all the insurers are guilty’
Conducting raids on the premises of the eight life insurers under investigation by the Competition Commission for alleged collusion and price-fixing did not mean that all of them were guilty, Fin24 reports Commissioner […]
Information from ‘an industry player’ prompted Competition Commission’s investigation into life insurers
Information received “from one of the players in the industry” prompted the Competition Commission to launch its investigation into alleged price fixing by some of the country’s major life insurers. This was all […]
