Magazines

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.

OESAI recently held their 45th annual conference in Mauritius and in this months edition we bring you feedback and highlights from the event as well as two eye opening articles from the Chief Executive and the Assistant Director for Insurance and Pensions, at the Mauritius FSC. What a breath of fresh air it was to discuss regulation with regulators that have their focus firmly on growing the financial services industry in Mauritius. Reading these two articles will give you new hope for the struggle with over- regulation, which our industry is clearly burdened by.

A key focus in this edition of COVER, is the growing risk in the cyber environment, several contributors are sounding the alarm, warning that the risk is much bigger than most businesses anticipate. I believe that the main reason for this stride mentality from the business environment and the insurance industry, is the fragmented manifestation of the risk and claims. However, the alarm calls should be heeded and the potential for a national or even global cyber pandemic should be a collective agenda, we need to tackle the issue on a grand collective scale.

August is Women’s Month, once again, we are celebrating the value woman add to our world, in so many ways. Our women's month feature in this edition is focused on the important topic of financial inclusivity for women, which is a crucial imperative for fostering equitable and sustainable economic growth. Don't miss the collection of insightful articles from women in the industry talking about this important issue.