COVER Magazine

Innovation in Insurance: Cardinal's Integrated Approach

In this insightful discussion, Tony van Niekerk of COVER, engages in a comprehensive conversation with Graham Harvey, CEO of Cardinal, a leading insurance technology provider. With over 25 years in the industry, Graham shares the journey of Cardinal’s flagship platform, C360, detailing how it stands out in an increasingly competitive market.
Tune in to learn how Cardinal is shaping the future of insurance technology by staying ahead of the curve and continuously adapting to the evolving needs of the industry.

Harnessing AI in Insurance: Insights from Sapiens' Alex Zukerman

In an insightful interview, Alex Zukerman, Chief Strategy Officer at Sapiens, discusses the transformative role of AI in the insurance industry. He explains the evolution from traditional AI, which enhances data analysis and predictions, to generative AI, which understands human interactions and provides nuanced responses. Highlighting a strategic partnership with Microsoft, Zukerman underscores the potential of AI to revolutionize claims management, underwriting, and customer service, enhancing efficiency and accuracy. He emphasizes the importance of adaptable and innovative AI solutions, ensuring they meet current needs while being poised for future advancements.

Revolutionizing Life Insurance Distribution: A Fresh Approach by Elevate Life

In a conversation with Tony, Matan Abraham, CEO of Elevate Life, discusses the need for innovation in the life insurance industry, focusing on distribution and wellness rewards. Elevate Life aims to modernize archaic offerings, emphasizing comprehensive coverages and leveraging technology for streamlined onboarding. By integrating wellness data through the "Elevate me" application, they incentivize healthy behaviors, aligning insurer and client interests. Matan highlights the importance of intermediaries and how Elevate Life simplifies their role, enabling them to provide better service to clients. Elevate Life’s approach promises to revolutionize the industry, offering a fresh and efficient alternative to traditional life insurance.

Engineering Insurance in the SME Landscape

In an insightful interview, Fergus Mc Namara, Managing Director at FDM Engineering UM, shares the journey of their 20-year-old company and the growth opportunities within the engineering insurance space
Highlighting the importance of focusing on this sector, Mc Namara points out the substantial potential for brokers, especially with government investments in infrastructure.
He notes a significant annual growth rate of around 15%, driven largely by smaller brokers serving SMEs.
Emphasizing the need for technical expertise and experience in underwriting, Mc Namara stresses the importance of collaboration between brokers and underwriters to navigate the complexities of engineering insurance.

Celebrating Milestones: What to Expect at the 50th AIE Conference

In this discussion, Tony from Cover Magazine interviews Thokozile Mahlangu, CEO of IISA. Thokozile shares highlights from the first half of the year, including financial growth and the Youth Accelerator Program.
They discuss IISA’s renewal of its CII affiliation, emphasizing its importance for maintaining high professional standards.
The conversation concludes with an exciting preview of the upcoming 50th AIE Conference, which promises to be a landmark event for the insurance industry. Key topics include IISA's achievements, youth initiatives, global collaborations, and the much-anticipated AIE Conference.

Current Challenges in the Group Benefits Space

In this discussion, Tony from Cover Magazine interviews Sheldon Friedericksen, General Manager of Group Benefits at FedGroup. They explore the challenges in the group benefits space, such as outdated benefit packages and the impact of the post-COVID cost of living crisis.
Sheldon emphasizes the need for practical steps to enhance retirement preparedness, including building trust, simplifying financial products, and supporting financial literacy.
They discuss leveraging technology and innovative approaches to provide personalized financial advice and ensure financial security in retirement.
The conversation highlights the importance of adapting group benefits to meet the evolving needs of a global and mobile workforce.

Understanding the Power of Attorney in South Africa

In this insightful interview, Tony from Cover Magazine speaks with Louis van Vuren, CEO of the Fiduciary Institute of South Africa (FISA). They delve into the intricacies of powers of attorney within South African law, distinguishing between general and specific types.
Louis explains the limitations of the enduring power of attorney in South Africa and discusses alternative legal measures for managing the affairs of individuals who lose mental capacity.
The conversation also highlights proactive steps, like setting up trusts, to safeguard financial interests against future incapacity. This discussion is essential for anyone seeking to understand fiduciary responsibilities and legal protections in South Africa.

Unlocking Generational Wealth: Insights from a Chief Wealth Advisor

In this enlightening interview, Paul Counihan, Chief Wealth Advisor at Fedgroup, delves into the intricacies of generational wealth and its significance in financial planning.
Counihan defines generational wealth as the passing on of wealth from one generation to another, emphasizing its role in providing future generations with the flexibility to pursue their aspirations without financial constraints.
He discusses various assets, including businesses, education, real estate, and investments, as vehicles for building generational wealth. Counihan highlights the importance of proactive planning and professional advice in preserving wealth across generations. Additionally, he sheds light on fixed endowments as a strategic tool for securing and transferring wealth to future heirs.
Throughout the conversation, Counihan underscores the necessity for families to prioritize generational wealth planning, irrespective of their socioeconomic status, and emphasizes the pivotal role of financial advisors in guiding clients through this intricate process.

Driving Innovation: Agility and Data in the Modern Insurance Industry

In an insightful interview with Cover Magazine’s Tony, Dane Richards, CEO of JMR, delves into the concept of business agility, particularly within the insurance industry.
Richards emphasizes the importance of adapting quickly to ever-changing environments by leveraging comprehensive data insights. He discusses how agility involves making rapid decisions based on accurate information, crucial for both traditional and innovative insurance models.
Richards also highlights the significance of regulatory compliance and data management in achieving agility.

Balancing Innovation and Compliance

Tristan Marot, an associate at Norton Rose Fulbright, delves into the intersection of technological innovation and regulatory compliance.
Tristan shares insights into the increasing demand for legal advice in the FinTech and InsurTech sectors, particularly regarding artificial intelligence solutions and automated decision making.
He discusses the challenges of keeping up with rapid technological advancements and emphasizes the importance of a holistic approach to regulation that understands underlying technologies.
The conversation highlights the need for open communication channels with regulators and the significance of fostering innovation while protecting consumers.