InsureTalk64: Going beyond the policy

InsureTalk64 was held on 16 July 2026, attracting close to 3000 online delegates. The theme for the webinar was “Beyond the policy: Creating wealth, building trust and delivering advice”. Our event partners on the day were Elite Risk Acceptances and Global Choices.

Opening the webinar was Tandiwe Cimela of Elite Risk Acceptances, who reflected on the key themes from the Elite Wealth Conference 2026, held under the banner “Resilience Meets Intelligence”. The conference brought together economists, business leaders, technology experts and wealth specialists to explore the factors that shape long-term financial success.

“The central message was that sustainable wealth is built by combining resilience with informed decision-making, with insurance playing a vital role in protecting assets, preserving lifestyles and supporting clients’ long-term financial goals,” said Tandiwe.

One of the conference’s key insights came from Sherwin Govender of Old Mutual Wealth, who emphasised that wealth creation is an intentional process of converting income into lasting assets through sound financial advice and disciplined investment.

“This resonates strongly with the high net worth market, where clients are focused on preserving wealth across generations,” said Tandiwe. “Insurance should be viewed not simply as a means of replacing losses, but as an essential component of long-term wealth preservation.”

Turning to technology, Tandiwe highlighted Nicky Verd’s message that artificial intelligence should be embraced as a tool to strengthen, rather than replace, human relationships.

“While AI is transforming underwriting, claims and customer engagement, insurers must adopt new technologies thoughtfully, ensuring innovation enhances the trusted relationships that remain at the heart of the industry,” she said.

She also referenced economist Gina Schoeman’s optimistic assessment of South Africa’s resilience, despite ongoing economic and geopolitical uncertainty. Her advice to “stick to your plan, do the basics right and protect what you don’t want to lose” aligned closely with the principles of insurance and risk management.

Intelligence + resilience

In closing, Tandiwe said the conference reinforced that lasting success is achieved through the deliberate combination of intelligence and resilience.

“As insurers, advisers and risk professionals, the industry’s role extends beyond paying claims to helping clients build, protect and sustain their wealth over time,” she said.

Following Tandiwe was Lara Faris of The Qual Agency, who encouraged insurance professionals to rethink how they engage with consumers, arguing that price and product features alone are no longer enough to influence purchasing decisions.

“While affordability, policy complexity and claims concerns remain significant barriers,” she said, “insurers need to understand the financial mindsets that shape how different generations perceive value. By looking beyond demographics to life stage, responsibilities and aspirations, advisers can have more meaningful conversations with their clients.”

It’s generational

Drawing on consumer research, Lara explained that every generation has a distinct relationship with money and financial protection.

“Gen Z consumers are looking for authenticity, shared values and trusted guidance, while younger millennials want expert advice that simplifies an increasingly complex financial landscape. Older millennials are focused on protecting the progress they have made, and Gen X consumers value transparency, consistency and confidence that their assets and legacy are in safe hands,” she said.

She also cautioned against relying on fear to sell insurance.

“Consumers already understand the risks they face,” she said. “Messaging that overemphasises loss or catastrophe often creates resistance rather than trust. Instead, advisers should demonstrate how insurance helps people achieve their goals, preserve what matters most and provide reassurance throughout different stages of life.”

Lara concluded that the strongest customer relationships are built by connecting the practical benefits of an insurance product with a client’s personal purpose.

“By understanding what success, security and progress mean to each individual, brokers can move beyond transactional conversations and create genuine value, strengthening both trust and long-term customer loyalty.”

Lizelle van der Merwe of the Financial Intermediaries Association of Southern Africa (FIA) was next in the hot seat. She opened by saying that the future of financial advice will increasingly depend on advisers being able to support every recommendation with credible, up-to-date evidence.

“The FIA anticipated this shift several years ago and made data and market intelligence a core strategic priority,” she said.

As part of that vision, the association invested in a proprietary data warehouse that brings together industry and market information on a scale individual firms would struggle to achieve, positioning the FIA to provide members with meaningful, actionable intelligence.

Lizelle also announced the next evolution of the FIA’s Market Intelligence Tool (MIT), which now incorporates the latest IFRS17 data and allows members to compare insurers across the short-term, life and reinsurance sectors.

“The platform enables advisers to assess insurer solvency, benchmark recommendations and strengthen records of advice far more efficiently than before, with further enhancements planned later this year,” she said.

Investing in tools

She said the initiative reflects the FIA’s belief that a modern industry association must do more than advocate on behalf of its members.

“It must also invest in the tools and infrastructure they will need to succeed in the years ahead,” she concluded.

Rianet Whitehead of FAnews reflected on the changing landscape of non-life insurance, noting that while risks are becoming increasingly complex, the fundamentals of good advice remain unchanged.

Drawing on recent FAnews coverage, she highlighted issues ranging from cyber risk and underinsurance to vehicle write-offs, solar installations and complex claims, arguing that many disputes can still be traced back to incomplete risk information, outdated valuations or poorly explained policy conditions.

“For brokers, the challenge is to continually reassess clients’ changing circumstances rather than simply reviewing sums insured once a year,” she said.

Rianet also discussed the growing importance of regulation, compliance and governance, particularly as the Conduct of Financial Institutions (COFI) reforms continue to gather momentum.

“While technology can improve efficiency and support compliance processes, it cannot replace professional judgement or responsibility,” she said, pointing to Ombud complaint trends as valuable learning opportunities for the industry. She encouraged advisers and insurers to view complaints as a way to improve communication, strengthen client relationships and deliver fairer outcomes.

The Insurance Apprentice 2027 entries are open

Looking ahead, Rianet shared updates on The Insurance Apprentice 2027, with entries now open, and encouraged companies to identify and support emerging talent. She also highlighted new consumer education initiatives, including a TikTok channel designed to explain insurance concepts in simple, accessible language.

Her closing message was that knowledge should always translate into better advice, stronger businesses and fairer outcomes.

“Education and collaboration remain central to the industry’s future.”

Next up was Kgomotso Makola of Sasria, who reminded delegates that insurance was founded on trust long before it became an industry built on technology, processes and policies.

Drawing on the origins of insurance at Lloyd’s Coffee House in London, she said, “… customers are not simply buying policy documents. They are buying reassurance that someone will stand with them when uncertainty becomes reality. Every interaction, from underwriting and policy administration to claims handling, either strengthens or weakens that promise of trust.”

Kgomotso argued that customer experience cannot be the responsibility of a single department, because clients experience one organisation rather than separate functions.

“Insurers need to define a clear organisational purpose that aligns every employee, process and decision around delivering value to customers,” she said.

Quoting Simon Sinek’s concept of starting with “why”, she said organisations that understand and live their purpose are better equipped to build lasting customer loyalty and deliver meaningful experiences.

She also challenged insurers to move beyond treating customer experience as a reactive exercise, instead designing every stage of the customer journey intentionally.

“Journey mapping, employee empowerment, data-driven decision-making and human-centred design all have an important role to play, while technology should enhance, rather than replace, the human relationships at the heart of insurance,” she said. “Successful insurers combine operational excellence with empathy, ensuring that every process reflects the promises made to customers.”

Superheroes

Closing with the analogy of insurance professionals as modern-day superheroes, Makola said every employee contributes to the customer experience, whether they work in underwriting, technology, finance or claims.

“The industry’s greatest asset remains trust,” she concluded, “and every decision should reinforce the promise that customers will be supported when they need it most. Delivering on that promise is not the responsibility of one team, but of everyone across the organisation.”

Rounding out the programme was our only male speaker of the day, Wimpie van der Merwe of Global Choices. Wimpie used coriander as an unlikely metaphor to illustrate the importance of personalisation in insurance, explaining how people’s vastly different reactions to coriander reflect the unique ways in which clients perceive risk and value.

“Two individuals with similar circumstances may require very different insurance solutions because their priorities, concerns and expectations are shaped by personal experience rather than demographics alone,” he argued. “Brokers must resist the temptation to treat every client the same and instead focus on understanding each person’s individual needs.”

He went on to explore the growing influence of digital platforms, artificial intelligence and data-driven decision-making, warning that while technology can improve efficiency, it also introduces new risks around transparency, dependency and algorithmic bias.

“As consumers increasingly place their trust in digital platforms, insurers must ensure that technology supports better outcomes rather than simply automating decisions,” he said. “AI may optimise processes, but it cannot replicate the empathy and judgement that underpin trusted advice.”

Drawing on his background as an architect, Wimpie encouraged brokers to adopt a design-thinking approach to insurance.

“Just as buildings are designed around the people who will use them, insurance solutions should be built around clients’ fears, aspirations and life circumstances,” he said. “Empathy is the foundation of good advice. Brokers are not simply selling policies but designing ‘risk containers’ that protect clients’ lives, businesses and futures when unexpected events occur.”

Wimpie concluded that technology and human expertise should complement rather than compete with one another.

“Digital tools can remove friction and improve service, but empathy, trust and meaningful relationships remain the true differentiators for advisers,” he said. “By combining technology with a genuine understanding of clients’ needs, brokers can deliver more personalised experiences, build stronger relationships and demonstrate the enduring value of professional advice in an increasingly digital world.”

InsureTalk65 take place on 20 August 2026. Register here for the rest of this year’s InsureTalk sessions.

Visit insuretalk.co.za to watch back editions of InsureTalk and qualify for CPD hours.