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Doing business in South Africa is challenging due to high crime, poor basic services, and slow economic growth, exacerbating unemployment. The insurance industry safeguards against unforeseen events, fostering small business sustainability and prosperity. Insurers also bear a social responsibility to expand comprehensive coverage, especially for SMMEs, as highlighted in our SMME feature in this edition.

Our latest edition of COVER has dropped. Delve into the world of resilience, collaboration, and strategies shaping South Africa's insurance landscape. Uncover Sasria's resilience amid crises, healthcare shifts in the industry, and risk management principles. And explore technology in insurance, broker solutions, modular systems, investment behaviour and more. Enjoy the read

In our latest edition, explore how Cyber Risk dominates Africa and the Middle East, while Global Risks Report unveils nuanced challenges like Extreme Weather and Mis/Disinformation. Dive into insights from industry leaders urging collaboration and innovation for tackling Business Interruption and uncover the path to global stability amidst uncertainty. 

Every year, for the past 35, COVER has kicked off the year with an Industry Outlook and this year is no different. Although there is always the Yin and Yang of challenges and opportunities, the various drivers of industry growth and the factors impacting them, keep on evolving. Most industry leaders agree that our industry thrives on risk, with the silver bullet being effective management of data. It is clear that managing risk is the strategy and data is the fuel. Leveraging technology and especially AI, is accepted by all as a ticket to the game.

Climate change is disrupting the insurance and reinsurance sectors globally, prompting a reevaluation of private sector insurability. Catastrophe insurance costs surge as climate-related incidents escalate, challenging traditional boundaries and leading to higher costs. The reinsurance sector, historically reactive, now seeks a proactive role in shaping society's resilience to climate change. Get insights into this evolving landscape of global reinsurance and insurance in this months Reinsurance feature.

Xoloitzcuintli, you may have thought my opening string of letters a typo but it is in fact the name of the exotic dog breed on our cover. This is just one of hundreds of unique dog breeds South Africans own, and each comes with their own unique set of needs and health issues, making a comprehensive pet insurance a must. The world of pet insurance has defeinitley come a long way over the years and the growing potential in the pet insurance industry is huge, be sure to give P.UMA's article on the evolution of pet insurance a read.