Thought Leadership
As a tenant in South Africa, understanding the responsibilities and benefits associated with renters’ insurance is crucial to ensuring that your home and belongings are protected. Drawing from my years in the industry, I see renters’ insurance not just as an option, but as a wise move toward secure living. This advisory piece walks through the basics of rental property insurance, the roles of both tenants and landlords, and offers practical tips for making informed decisions.
Discover four real-world scenarios where cyber insurance can protect your business from devastating cyber attacks, including ransomware, data leaks, downtime, and phishing scams. Learn how comprehensive coverage offers financial protection, expert support, and helps restore operations quickly. Stay ahead of cyber threats and secure your business.
In my years in the Short Term Insurance Industry, I’ve seen many clients frustrated by claim rejections due to simple misunderstandings in their policy documents. In this article, I discuss the importance of thoroughly reading and understanding your policy wording and schedule to avoid such issues. Let’s ensure your claims process is smooth and hassle-free.
Navigate through a blog that addresses the pressing issues of floods, energy instability, and upcoming elections, affecting trade reliability. Stay informed about the alarming statistics of car hijackings, vehicle thefts, and household break-ins, reflecting the challenges faced in the region
Navigate the intricate world of compliance with Sollie Stols, an Insurance Consultant with over four decades of experience. Discover how compliance goes beyond paperwork, ensuring the security, trust, and sustainability of your business. Explore insights on data protection, industry-specific regulations, and the importance of workplace safety. Join the conversation on legal requirements, staff management, and the nuances of compliance in today’s dynamic business landscape.
With the recent Earthquake, on Sunday Evening, 11 June 2023, measured on the Richter M/L 4,4 as recorded by the Council for Geoscience, however, the European Seismological Centre, recorded it as 5,0 M/L
The epicenter was located a few km outside an East Rand mine, in Boksburg.
This led to the major Insurance Companies in South Africa excluding Power Surge Claims from their policies. In the event of a loss, the user will now even be worse off, therefore the number of businesses closing down, and Individuals cancelling policies, will increase.
This resulted in Insurers Paying out a record number of flood claims, leaning heavily on Reinsurers, and the clients ultimately will have to pay higher premiums, dictated by Reinsurers. Ultimately some clients will not be able to pay these higher premiums.
Skilled People, leaving Formal, work environments, not even working on a Hybrid basis, but leaving companies and consulting as entrepreneurs.
This is something I wrote about not so long ago and posted on my website and other social and business sites.
The photo below tells the story, of the occupants of shacks, living really on the edge, as government allows these shack dwellers to build their shacks well below flood lines and on areas prone to subsidence and landslide.
Living in South Africa became quite a challenge on various fronts – I focus on electrical installations, which are not dealt with according to regulations.
According to the South African Building Regulations, lately named SANS codes, any electrical installation in South Africa, to be legal need to be signed off by a qualified Electrician, and a Certificate of Compliance issued by a qualified electrician must be obtained in terms of the specific SANS code that drive electrical installations.
I have penned down my opinion and the challenges on taking Insurance to the masses more than once before.
I now have read a document released by Delloite, entitled, Emerging Markets – Growing Insurance and challenges, with a focus on Africa. (Published on Google)
In my previous article, I mentioned the challenge of collecting the money from the prospective insured client in the informal sector.
In a way, the Short-Term Insurance Industry has already adapted to using AI and Insure Tech to conduct Insurance and to provide Service Delivery to clients, and it is already in use by Direct Writers in the South African market, technology will shape our future if we like it or not, it is like catching the bus or stay behind, and be irrelevant.
As I have written before, I have a passion for Training and Mentoring young professionals entering the Short-Term Insurance Industry in South Africa, and for that matter Africa.
I am very much aware of a huge skills gap in the industry, some professionals have obtained a Regulatory Diploma to be fit and proper in the industry, but practical skill is lacking. Whilst thinking this matter over, I came across The South African Insurance Association’s Bulletin (SAIA), heading “PROMOTING A TRUSTED & SUSTAINABLE NON – LIFE INSURANCE INDUSTRY FOR SOUTH AFRICA” dated November 2021. (Published on the Web).
Carnage on South African Roads, the high fatality rate in accident’s – time to seriously stop talking and put in place measures that can stop this.
This festive season in South Africa has seen an unprecedented carnage on our roads, multiple car, truck, and minibus accidents, followed by an exceedingly high number of uncalled deaths by road users and pedestrians.
Who is the middle class in South Africa? Defined by an article produced by Econ3x3, in a published article on the web, the middle class in South Africa is about, 4.2 million households, earning R4950 and below?
For over a decade or even more, both the Short-Term insurance fraternity, and the Life insurance companies have been looking for a way to bring peace of mind to the masses. That is what you get buying a short-term insurance policy…
Kidnap and human trafficking in South Africa is not a new phenomenon, in fact, going way back however proper statistics were studied from 2014 onwards
Quoting from the Institute for Security Studies article by Lizette Lancaster on 1 Nov 2020 on google, kidnapping increased from 1 April 2020 to 31 March 2021 with a massive 133%. 2039 cases in 2010/2011 to 6632 in 2019/2020…
About Sollie
Thought Leadership in Short-Term Insurance
With decades of experience in the Short-Term Insurance industry, my commitment to thought leadership is rooted in sharing deep insights, innovative strategies, and industry expertise through my work and writing. My goal is to provide Financial Services Providers (FSPs) and other industry stakeholders with valuable knowledge to navigate the complexities of regulatory compliance and risk management.
As a seasoned consultant offering Key Individual Services, I ensure FSPs meet the stringent requirements of the Financial Advisory and Intermediary Services (FAIS) Act, helping them maintain operational integrity and legal compliance. Whether you’re leading a new venture or transitioning in leadership, I offer practical solutions and guidance, drawing from years of experience to address your challenges effectively.
Through my blogs, I aim to share not just my technical expertise, but also forward-thinking perspectives on how businesses in the insurance sector can adapt, thrive, and stay ahead of industry changes. Join me as I continue to explore these topics, offering you trusted insights and strategies for success.
