InsureTalk57: Resilience and Responsibility in a Changing World

InsureTalk57 took place on Thursday, 23 October 2025, drawing more than 3 000 participants. The theme for the conference was “Resilience and Responsibility in a Changing World”, with sponsors including Elite Risk Acceptances and Santam.

Kicking off proceedings, Tarina Vlok, founder and MD of Elite Risk Acceptances, presented a deeply personal reflection on the emotional and psychological journey toward retirement. Turning 60, she said, was a turning point.

“It wasn’t just a number,” she explained. “It symbolised the two-year countdown to retirement.”

As she faces 62, she feels “… a jumble of emotions – anxiety, excitement, sadness, relief, fear and gratitude.” This prompted her to explore what retirement really means, beyond the practicalities, describing it as “an existential crossroad.”

Tarina shared a story about Ginni Rometty, the former IBM CEO, who was asked before retiring: “What is your purpose going to be?” That question floored Rometty – and Tarina, too.

“Most of us have built our identities around what we do, not who we are,” she said, highlighting the importance of having a “purpose-driven plan,” preparing emotionally as well as financially, and recognising the loss of routines and relationships that work provides.

“My identity has always been intertwined with my work,” she admitted, asking herself, “Who am I without my title?” Yet she has come to see that identity isn’t lost, “… it evolves.”

For her, what remains constant are her values – honesty, authenticity, friendship and family – and this evolution gives her hope.

Citing research from Harvard, Tarina addressed the emotional challenges of retirement, particularly loneliness.

“Our professional network doesn’t automatically convert into a social one when you retire,” she said.

She plans to invest intentionally in relationships outside of work, joining new groups and reconnecting with friends.

“We like to talk about financial planning for retirement,” she said, “but I think we also need to do relationship planning.”

The Harvard research also highlights boredom as a major hurdle: “Even bad days have structure,” she observed, but without meaningful projects or community roles, “every day starts to feel like a Saturday.” To counter this, she spoke about embracing “purposeful leisure” – leisure with intention, filled with activities that “connect, challenge, or create.”

In closing, Tarina shared insights from Harvard’s The Retiring Mind: Why We Struggle and What Helps, noting that people who thrive after retirement “plan their future like a new career.” They test new pursuits before leaving work, maintain social ties, and stay active.

For her, this means “retiring to something, not from something.” She intends to write, consult, mentor young leaders, and “learn how to sit still without feeling guilty.”

Ultimately, she reframed retirement not as an end but a transformation: “It’s a transition from striving to being, from achievement to alignment.

“Retirement isn’t the end of relevance for me – it’s the start of reinvention, and that feels like the most meaningful work yet.”

Next up was Tandiwe Cimela, COO at Elite Risk Acceptances, who spoke on governance and controls as strategic enablers of growth.

“In us being comfortable and going beyond our comfort levels, governance and controls are things that will actually bring growth for everyone.”

For Tandiwe, governance isn’t a bureaucratic burden but a tool that drives effective and efficient operations. In her world of insurance operations, embedded governance ensures strategic alignment, accountability, and better customer experiences – all critical ingredients for business success.

She encouraged guests to reframe governance as a living part of strategy rather than a compliance checklist.

“It gives you the blueprint,” she said. “You know the rules or the context you’re working in.”

Properly embedded, controls ensure that every function, from underwriting to claims and client service, aligns with the organisation’s strategic objectives. Tandiwe emphasised the importance of collaboration between operations, compliance, audit and risk teams, noting that “if you start collaborating with those teams… it becomes part of the business.”

Once this shift happens, governance evolves from a tick-box exercise into a culture of transparency, accountability, and continual improvement.

To illustrate her point, Tandiwe turned to the 2014 collapse of African Bank, which she described as “a governance breakdown.” The board lacked proper oversight, executives failed to report risks transparently, and the bank fell into curatorship.

“It was operational,” she said, “and as a result of those things not going according to plan, now we have an issue and we can’t meet strategic objectives.”

Yet the story also had a redemptive arc: stronger governance reforms led to improved performance and customer growth. For Tandiwe, this case highlighted how ethical culture, effective control, good performance and legitimacy (the King IV principles) are not abstract ideals but operational necessities that sustain long-term success.

In conclusion, Tandiwe urged guests to view governance and controls as a living system and a tool. When embedded into everyday operations, governance clarifies decision-making, fosters fairness and enables real-time improvement.

“Governance and controls are actually an asset,” she said, “if we engage with intent and collaboration.”

The first of our regular speakers, Thokozile Mahlangu, CEO of the IISA, opened her talk by sharing updates on the institute’s growing skills development initiatives. She announced two new programmes – the Loss Adjuster Development Programme and the Broker Development Programme, collectively known as the Next Gen of Specialists. The aim, she explained, is to “provide mentorship, coaching, and exposure to complex claims and law adjusting,” helping participants scale their businesses and strengthen industry expertise. Thokozile thanked Sasria SOC Limited for sponsoring these vital initiatives, saying their investment ensures “the development of critical skills required to take the industry forward.”

She also highlighted the success of the recent Sip and Paint networking event with ISP Optimus, thanked sponsors ahead of the upcoming IISA Golf Day on 30 October, and invited members to the annual recognition event on 18 November.

Turning to transformation and growth, Thokozile announced that IISA had achieved – and expects to retain – a Level 1 BBBEE rating, now under the more stringent generic codes.

“Transformation is not about compliance,” she said. “For us, transformation is part of business.”

Thokozile also spoke about the IISA’s regular webinars, including an upcoming collaboration with AA Insurance in New Zealand focusing on resilience and lessons from the Christchurch earthquake.

She concluded with excitement for the African Insurance Exchange 2026, unveiling its theme: The Insurance Renaissance – Rebirth, Reinvent and Redefine.

“In 2025, we gathered under the baobab to honour our roots,” she said. “Now we gather in the spirit of renaissance to dream and create boldly.”

Our second regular speaker, Rianet Whitehead, co-owner and editor of FAnews, unpacked highlights from FAnews’ October non-life edition.

“Automation is transforming claims,” she said, “but it also brings risk.”

One feature in the magazine explores how automated decision-making interacts with POPIA, reminding the industry that while technology enhances speed and accuracy, human oversight remains essential.

Other features examine proximate cause in claims, the impact of climate change on underwriting and the evolution of risk management in response to wildfires and extreme weather.

Rianet also spoke about the growing need for collaboration and the risk it brings, pointing out that poor structuring or unclear accountability in joint ventures can “turn collaboration into liability.”

She went on to highlight key insights from recent industry events, including National Connect Partner Day, which covered topics such as digital transformation, complaint trends from the Financial Ombudsman Scheme, and upcoming regulatory shifts under the Conduct of Financial Institutions (COFI) Bill.

“There’s still a lot of work lying ahead in that space,” she said.

Rianet’s talk also covered new underwriting challenges facing the electric vehicle market, from battery fires to repair costs.

She urged industry professionals to apply for The Insurance Apprentice 2026 before 31 October, especially from regions outside Gauteng. With the series now reaching national television, she described it as “a powerful platform to align your brand.”

Concluding her talk, she reminded listeners that amid all the change – from regulation to reinsurance and climate resilience – one constant remains: “Adaptability. Our industry continues to innovate, protect and uplift.”

Our traditional entertainment slot, sponsored by Business and Arts South Africa, featured Cape Town vocalist Ama.

Next, cyber experts Colin Wiseman and Lukas van der Merwe took to the virtual stage to discuss Digital Wounds: Unravelling the Psychological Impact of Cyber Attacks.

Colin, who manages financial lines, cyber and technology risks at Santam, opened the session by illustrating just how pervasive cyber threats have become. Using a live threat map, he showed the global volume of ongoing attacks, noting that South Africa is now ranked 27th worldwide for data breaches, with an estimated breach occurring every minute.

Between April and June 2025 alone, over 21 000 South African accounts were compromised. He described a “data breach epidemic”, pointing out that 95% of incidents are caused by human error, often through phishing links. Despite these risks, only 29% of organisations planned to increase cybersecurity budgets significantly for 2025, leaving many dangerously underprepared.

Colin emphasised the financial implications: in 2024, the average cost of a single data breach was R53 million, with severe incidents exceeding R360 million. He highlighted how comprehensive cyber insurance can help mitigate these losses, not only covering direct financial impact but also providing expert support during a crisis.

“When you suffer a breach,” he said, “you need specialists who can step in immediately.”

That’s where Lukas, Director of Cybersecurity Sales and Client Development at Cybercom Africa, comes in. Lukas described his role as the first responder when a cyber breach occurs, explaining that the first few hours are critical. His team’s immediate priority is to assess the extent of the breach, contain the threat and determine how far attackers have penetrated the network.

Lukas expanded on the reality of cyber incidents. He explained that ransomware attacks are becoming more sophisticated and that global cybercrime is now a multi-billion-dollar industry.

“Hackers operate like structured businesses,” he said, describing “ransomware-as-a-service” operations that sell stolen network access and even manage ransom negotiations. The financial stakes are high: ransoms range from R200 000 to over R90 million. And while paying criminals is never ideal, 71% of South African organisations now enter negotiations with them – a sharp rise from 40% in previous years.

Lukas noted that although some companies in Europe are refusing to pay, “in South Africa, ransom payments have increased significantly.”

The speakers then tackled the moral and practical dilemmas around ransom payments.

“We don’t advocate paying,” Lukas said, “but often backups are compromised or data is too sensitive to risk public exposure.”

Attackers use stolen data for extortion or sell it on the dark web if payment isn’t made.

Colin added that companies need expert legal and regulatory guidance before making any payments, as transactions could inadvertently breach anti-terrorism or currency laws.

Lukas further explained that cybercriminals are driven by profit and reputation: “If they take money and don’t deliver, word spreads fast on the dark web, and that destroys their business model.”

Ironically, this “criminal code of honour” means that data recovery after ransom payments is relatively high – Lukas reported a 100% recovery rate within his organisation.

Colin also outlined developments from the Financial Sector Conduct Authority and Prudential Authority, which are introducing new joint cybersecurity standards for 2025. These require financial institutions to establish incident response plans, conduct regular staff training and ensure third-party vendors meet security standards.

He urged companies to prepare in advance: “Don’t wait until the incident has happened — be proactive.”

Having cyber insurance, he said, helps businesses understand minimum safety requirements, manage data responsibly, and access forensic and legal expertise when needed.

Cyber policies now cover areas like data restoration, reputational management and regulatory fines under POPIA – protections that can determine whether a company survives a breach or collapses.

The discussion concluded with a sobering reflection on the human toll of cyberattacks.

Lukas noted that “the psychological impact is real — executives experience sleepless nights, panic and PTSD.”

He linked this emotional strain directly to preparedness levels: “There’s a clear relationship between the trauma individuals suffer and the organisation’s readiness before the attack.”

Both speakers agreed that preparation is the most effective defence. Companies that have an incident response plan and rehearse it regularly spend up to 61% less managing attacks.

Colin ended by urging brokers and clients to explore cyber cover seriously: “It’s a dark world that none of us want to experience firsthand. The key is to take proactive steps, know who to call, and have the right protections in place before the crisis hits.”

Wellness coach Kayla Gous from Are You Okay? closed the session with a powerful and deeply human discussion on “Mental health in the boardroom: leading with empathy”. She began by addressing the stigma and discomfort that still surround mental health in professional spaces.

“I’m not going to make you sing Kumbaya,” she joked, “but we need to take the scary out of mental health.” Far from being a “soft issue,” she argued, it’s a business-critical one — the foundation for performance, leadership and success.

“We were told to leave feelings out of the boardroom,” she said, “but that’s so early 2000s. Whether you’re assessing claims or leading a team, you’re managing humans — and humans are emotional.” Her message was clear: empathy isn’t weakness; it’s strategy.

Kayla introduced the biopsychosocial model of health, explaining that physical, mental and social well-being are interconnected.

“When we ignore mental health, we’re not just missing a piece, we’re breaking down the whole system,” she said.

Mental health, she reminded the audience, is health. Using global and local data, she showed the cost of neglect: depression and anxiety cost the world economy $1 trillion annually, while in South Africa alone, untreated mental illness costs R232 billion a year – 5.7% of GDP. Beyond absenteeism, she warned of presenteeism: people showing up but performing far below their capacity.

“We wouldn’t expect someone with pneumonia to keep working, so why do we expect it from someone with burnout or depression?” she asked.

Drawing on research and experience from Are You Okay?, Kayla described how empathy creates psychological safety – the key to innovation, loyalty and performance.

“When leaders listen without judgment and respond with care, teams thrive,” she said.

She shared a story about a manager who admitted he wasn’t “the most empathic person” but changed his approach after learning one of his team members was struggling. His simple act of checking in transformed engagement and morale.

“He told me, ‘I thought empathy would slow me down, but it actually made everything flow better.’ That’s the ripple effect of empathy,” she said. It’s as powerful in leadership as it is in client service, where just asking “Are you okay?” can transform relationships.

Kayla concluded with a challenge to leaders to move beyond slogans and embed empathy into daily practice.

“Replace tough it out with talk it out,” she urged. “Stigma doesn’t reduce the cost of mental illness, it increases it.”

Practical steps include active listening, training managers to recognise burnout, making mental health support visible and leading by example.

She reminded the audience that younger generations demand mental health-conscious workplaces: “If we’re not proactive, we won’t just lose productivity, we’ll lose our future workforce.” The future of leadership, she said, is “about awareness, compassion and courage.”

Her closing line tied it all together: “If we care about performance, we must care about people. If we care about people, we must care about mental health.”

MC Christelle Colman wrapped up proceedings by reminding delegates to register for InsureTalk Live, taking place in Johannesburg on 13 November 2025. The event is a hybrid event, so guests can join either in person or online. Bryte is our headline partner and Global Choices is an event partner.

If you’d like to watch the InsureTalk57 recording, click on the video link below: