How To Deal With Change, Change, Change

To find out how to deal with all this change confronting brokers, join us at the Financial Intermediaries Association (FIA) of Southern Africa and Cover summit at the Sandton Convention Centre this Friday, 17 March.

Along with a tsunami of changes in legislation governing the finance and insurance sectors, brokers, insurers and their clients have to contend with a tough economic market, Geyer said. Hollard is a sponsor of the summit, which is organised by the FIA and Cover.

Times are tough. President Jacob Zuma projected what has been termed an optimistic 1.3% economic growth rate for South Africa in his February State of the Nation speech.

“The broker is our lifeblood, responsible for 45% of our turnover,” said Geyer. He estimated the size of the broker market at R110 million gross written premium (GWP), the total premium written by an insurer before deductions for reinsurance and ceding commissions. “We want to claim our stake in that market,” he added.

This year’s conference theme is “Survive or thrive” and the focus is on retaining and building value in short-term insurance brokerages.

“The summit is a great opportunity to bring people together, an opportunity to learn from each other,” said Geyer.

Speakers include:

• Prof. Nick Binedell, dynamic business strategist and founder of the highly successful Gordon Institute of Business Science will share his experience in taking a business from good to great.
• Michael Duncan, MD of Marsh Africa, will talk about the real role of the future broker and what it will take to stay relevant.
• Dr Roelof Botha, renowned economist and business strategist will share his thoughts on economic prospects and hurdles facing businesses and consumers over the next few years.
• Simon Carpenter, chief technology officer at SAP, will discuss the impact of innovation and digital transformation on the broker’s strategy.

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