SMMEs, risk management and the broker’s real edge

The panel agreed almost unanimously that SMMEs represent one of the biggest growth opportunities for intermediaries. In a South African economy where small and medium businesses are central to job creation and GDP, the need for proper advice and risk management is only increasing.

For Philippie, the real differentiator of the independent broker is, and will remain, quality advice and a deeper role in risk management, not just product placement. Insurance is only one part of risk management. Brokers that can understand their clients’ businesses, interpret data, and help them mitigate risk holistically will stand out.

Duncan framed this as a necessary evolution: brokers must become true risk managers and strategic partners to their clients, not price negotiators. With AI and BI, brokers can now compare policy wordings in seconds, analyse claims, and document advice more robustly, all of which supports better risk decisions and liability protection.

Sandra added a challenge to insurers: if they want future-fit intermediaries, they must help brokers build risk management capability through training, data and insight.

Technology, AI and doing what you couldn’t do before

Technology is not new to the industry, but the panel agreed that adoption is lagging. The problem is not the lack of tools, it is implementation, cost, skills and clarity of purpose.

Sandra noted that many brokers don’t yet have the basics in place: a professional website, secure systems, or a clear digital presence. Data security is also a growing barrier, in future, an insurer may not even be able to contract with a broker whose systems aren’t up to scratch.

Elliot cautioned against chasing every “shiny object”. The question is not how to do the same things faster and cheaper, but how to do things that weren’t possible before, such as highly personalised, usage-based, unbundled cover delivered exactly when and how the client needs it.

Practical guidance emerged for smaller brokers wanting to tap into AI and advanced tools without huge budgets:

• Start somewhere simple (e.g. using AI co-pilots for email, documentation or basic analytics).

• Analyse your book and your clients’ tech appetite before investing in CRM or digital platforms.

• Choose one priority use case that improves operational effectiveness or client experience, then execute.

• Don’t try to build everything yourself; collaborate with specialist providers and other brokers.

Brand, communication and the client experience - Towards the end, the conversation turned to brand and client engagement. Tony reminded attendees that brand is not just a logo or colour palette, it’s the total experience clients have when dealing with you, across channels and over time.

Philippie emphasised consistency: one recognisable name, look and feel across all platforms. George Martin added that clients now expect the same quality of experience across every touchpoint, digital, call, branch, claims. Omnichannel consistency is as much a brand issue as a service one.

Duncan argued that the real work of branding starts internally. Brokers must first understand who they are and what they stand for, then live that brand in every interaction. Only once the internal reality matches the brand promise does it make sense to invest heavily in external marketing.

Elliot distilled brand strategy into a simple test: can you complete this sentence? “Only my brokerage can satisfy [this specific client’s] need for [this specific thing] in a way that’s plausibly different from everyone else.” If not, work on that first. Once defined, every strategic and technological decision, including consolidation and new channels, must be judged against that promise.

In closing, Tony thanked Renasa for their sponsorship of the webinar and reminded attendees that COVER will deepen its broker research in 2026 through more qualitative, conversation-based engagement. The aim is to keep taking the pulse of the independent broker market and to surface the insights and interventions needed to ensure that independent advice not only survives, but thrives, in the decade ahead.