Tag: credit insurance
Trade & insolvencies – impact of macro-economic & geopolitical dynamics
With an economic growth forecast of only 1.6% over the next three years for South Africa, businesses are facing a tough trading environment, exacerbated by the impact of geopolitical tensions, disruptive new technologies, persistent weather catastrophe threats and failing public infrastructure and services.
Why trade credit insurance matters
South Africa is currently experiencing challenging political and economic conditions, which has a direct impact on the financial and trading performance of businesses. Vulnerabilities to external shocks have also converged at the worst possible time in our post-pandemic economy, with the impact rapidly manifesting in financing becoming more difficult to secure, more expensive and dwindling foreign direct investment.
Digitisation is revolutionising the insurance space
The implementation of digital technologies is driving massive positive changes for customers and providers in both the short- and long-term insurance industries. The recently released South African Insurance Industry Survey for 2021 has highlighted the role of disruption and innovation, with the majority of CEOs surveyed stating that they are looking to get on the front foot with regard to these twin challenges.
Banking safely and efficiently during lockdown
Consumer concerns related to COVID-19 including fears of being infected by the coronavirus while attending to their banking matters and stress related to debt issues have come to our attention. In response to President Ramaphosa’s address on the measures to contain the spread of the coronavirus, we urge consumers to remain calm and to follow the stringent measures in place to protect both themselves and their families.
COVID-19: a new environment for insurers and claimants
After the likely spike in insurance claims arising from the COVID-19 pandemic, insurers are likely to introduce new or change existing exclusionary clauses which were not previously considered to be necessary. The rapid spread and potential damage of the coronavirus presents an extraordinary situation for governments, businesses and individuals.