We have long been saying that the conversation about insurance should be shifting from “what’s the cheapest premium today?” to “what’s sustainable and valuable over the long term?” But even though BrightRock has been raising the issue of unsustainable funding patterns, this shift has been slow. For years, price has been the primary decision-making factor, […]
While South African entrepreneurs are growing increasingly sophisticated in planning for long-term growth and succession, a critical and often overlooked insurance gap is leaving a vast number of small and medium-sized businesses dangerously exposed. South African needs-matched life insurer, BrightRock, reveals a snapshot of business insurance trends, highlighting both the cover entrepreneurs prioritise, such as […]
We’d all like to believe that we can make smart financial choices. Ones that are rational, informed, and aligned to our long-term goals. But the truth is, our brains often get in the way. Behind every investment decision, savings plan, or insurance policy lies a tug-of-war between logic and emotion. That’s where behavioral economics comes […]
When it comes to protecting your income – if you become disabled or pass away – many young South Africans in their 20s and 30s think it’s something to worry about “later”, after you’ve bought a home, climbed the career ladder, or started a family. But this mindset can end up costing more than you […]
Life changes fast. Financial obligations, health status, and family dynamics evolve over time, sometimes gradually, sometimes in an instant. Yet, traditional life insurance policies are designed as rigid, one-size-fits-all agreements that don’t easily adapt to the realities of life’s twists and turns. This is where claim-stage flexibility is becoming a critical innovation in life risk […]
It may be obvious, but your clients’ needs change over time. That’s why it’s imperative to get life cover that precisely matches their needs today but also can change with them over the course of their policy’s duration, as those needs change. But can they change their cover when their needs change without undergoing medical […]
In South Africa, and across much of the continent, business insurance is undervalued. According to a 2023 SME South Africa guide, most small and medium enterprises (SMEs) see insurance as a grudge purchase, an expense to avoid unless absolutely necessary. For too many entrepreneurs, business insurance, succession planning, and keyperson insurance only enter the conversation […]
The saying goes ‘the proof of the pudding is in the eating’, and this is particularly true when we speak of insurance policies. The proof of the product is when clients claim. This is the reason why they take out life insurance in the first place – so they can claim when they suffer a […]
Your critical illness cover is there to help you with the additional expenses that come with a serious illness or injury. But does your cover consider traumatic injuries when assessing your claims? Here are some important questions to ask when getting critical illness cover. 1. Should my critical illness cover include cover for injuries? Yes […]
The world is rapidly changing and with these changes, such as the emergence of Artificial Intelligence (AI), many professions may seem to be under threat. However, the thing that research shows is that people still value human interaction. While technology can help simplify many things, consumers still want to speak to qualified professionals when it […]
Life insurance often takes a back seat when it comes to financial planning, but it’s one of the most crucial steps toward securing your future and protecting your loved ones. As you reflect on your financial goals for the year ahead, making life insurance a priority can be one of the smartest decisions you make. […]
Changes in mortality and lapse rates leave policyholders with a nasty premium shock.
According to the 2022 Veeam Data Protection Trends Report, 85% of South African organisations faced ransomware attacks, which are now one of the leading causes of business disruption. As businesses increasingly rely on technology to optimise operations and improve customer experience, robust cybersecurity measures are essential to safeguard sensitive data and ensure business continuity. The […]
Small and medium enterprises (SMEs) are pivotal to South Africa’s economy, driving innovation, job creation, and economic growth. However, they are often vulnerable to financial and operational disruptions if the owner becomes disabled or passes away unexpectedly. The sudden loss of a business owner can lead to complex challenges, such as settling debts, transferring ownership, […]
Imagine a world where every financial decision was made with cold, hard logic. No emotion, no bias – just numbers. The real world doesn’t operate that way. This is where behavioural economics come in. When it comes to life insurance, understanding the quirks of human behaviour can make all the difference to help you protect […]
In the current cost-of-living crisis many people are reconsidering their life insurance because the premiums are too high.
Affordability is a key part of most people’s thought process when buying life insurance. While it is important to have premiums that you can afford today, it’s even more essential that your premiums remain sustainable in the future, so you can keep your cover. Premium funding patterns play an important role when it comes to […]
Taking care of a home and children is one of the most important jobs anyone could have. Despite home executives taking care of many duties, covering them should they suffer a serious illness or injury, or should they even pass away, is not something we consider when taking out life insurance. Why it’s important for […]
Funeral expenses can be burdensome and overwhelming – this is why funeral polices are the most popular insurance products in South Africa. Funeral policies are designed to offer a financial safety net to families during a very stressful time. They enable people to honour and bury their loved ones with dignity, and without facing financial […]
The South African financial services sector has undergone sweeping regulatory reform over the past 15 years, aimed at improving the governance and accountability of financial institutions. These reforms have been crucial in securing better outcomes for the people served by the sector. The Conduct of Financial Institutions (COFI) Bill represents a major leap forward and […]
The gig economy and small and medium enterprises (SMEs) are pivotal to South Africa’s economic landscape. With unemployment rates soaring and traditional job opportunities becoming increasingly scarce, more South Africans are turning to freelance work and entrepreneurship. While these sectors offer flexibility and innovation, they also present unique challenges, particularly regarding financial security and risk […]
Personal insurance extends beyond income protection to leaving a legacy, covering debts, protecting assets and looking after one’s family in the future.
After studying teaching and drama, I found my passion when I joined the life insurance industry as a broker consultant in the early 90s. I’ve worked in senior positions in financial services for over 30 years, having set up and run distribution for major life insurance operations in South Africa and the United Kingdom. 1. […]
BrightRock CEO, Schalk Malan chats to Kaya Biz host, Gugulethu Mfuphi. This interview was first published online by Kaya FM on YouTube on 10 May 2024.
Economic hardships often push individuals toward desperate measures. In tough times, fraudulent behaviour becomes even more tempting. Falsifying death certificates for funeral policy claims or withholding crucial health information during application processes are just some examples of this deceit. Extreme cases of fraud may involve staging an accident, faking an injury or death, or syndicated […]
Johannesburg – Needs-matched life insurer, BrightRock, today provided an update on its business performance results across its individual life and funeral businesses for the fiscal year ending 31 December 2023. Despite the difficult economic conditions currently impacting consumers’ pockets, CEO Schalk Malan says BrightRock has shown resilience and growth. “The ongoing cost of living crisis and […]
BrightRock CEO, Schalk Malan in conversation with BizNews founder, Alec Hogg. This interview was first published by BizNewsTV on YouTube on 27 October 2023.
When I look at my entrepreneurial journey, coming together with my partners wanting to change an industry was challenging.
For many members who have Group Risk cover through their employer, this is the only cover that they have.
Everyone has different circumstances that are distinct from the next person.
The last two years have been challenging for most people across the world. We’ve seen unprecedented change, and we’ve all had to adapt to those changes and find new ways of doing things.
The last two years have been challenging on the work front for all South Africans, as businesses of all sizes were severely tested by the pandemic.
In 2021, BrightRock paid as many death claims as it did in the first seven years of its existence. The young life insurer, in which Sanlam acquired a majority stake in 2017, covers almost 2 million lives, but it paid out R1.25 billion in claims in one year.
South Africa has one of the most competitive insurance markets in the world, with a mature, established industry serving middle- and upper-income clients and an emerging sector.
This week our Minister of Finance, Enoch Godongwana, will be delivering his budget speech, which will outline government’s planned expenditure over the next year.
ReMark’s recently released Global Consumer Study for 2021 – 2022 has some interesting insights into how trends that we saw at the beginning of the pandemic have evolved.
It’s been 18 months since the pandemic came into our homes, businesses and communities & introduced a new normal. 18 months of uncertainty, loss and adaptation.
When compared to ten years ago, the world of life insurance is a significantly different place to navigate. People nowadays spend the majority of their time online.
BrightRock’s head of the legal team, Glenn Hickling, has addressed some questions to educate consumers about insurance fraud and how it applies to them.
Every October, the medical community raises awareness about breast cancer and its impact on women of all races, nationalities, and socioeconomic backgrounds.
It’s taken 10 years, but the BrightRock team has turned its plan to shake up the life insurance industry into action. Today, the company is the third-largest insurer in new business in SA.
Spring is the time of year when we can finally break our negative winter habits and begin new routines that prioritize our health. But what about your financial situation?
Life insurance might be too expensive for diabetics. Although insurers take comparable approaches to providing cover, a new product on the market focuses on assisting customers in managing their illness.
Short-term insurance recently became one of the talking points of the July lootings after thousands of SMEs were affected by the riots, suffering loss and damage to assets.
Although women make up nearly half of the workforce, it seems that many women still have no long-term cover. Women need life cover at every stage of their lives.
BrightRock occasionally come across a claim where we believe the terms of a pay-out should be straightforward, only to discover that this is not the usual industry view.
In 2015, BrightRock introduced the patented Trauma IQ assessment as a world-first to address the additional costs incurred as a result of accidents that did not meet traditional critical illness criteria.
Smokers can pay more than double the premiums of a non-smoker, depending on factors such as age, pre-existing conditions and the structure of your policy.
When you think of your savings plan, life insurance is not likely to be the first thing you associate with saving up for what is important to you.
The impact of COVID-19 on the life insurance industry was recently highlighted when ASISA released their 2020 statistics for the sector.
It might be tempting for SME owners to neglect focusing on insurance, but in an environment governed by uncertainty, costs and risks are well managed.
Group risk cover is a good vehicle to help protect your employees against the possibility of something happening to them where their ability to earn a living is compromised,
Debt can be healthy and unhealthy. Healthy debt is the sort of debt that adds value to your life and is often asset-based, such as a student loan or a car.
BrightRock founders joined the BizNews Power Hour to chat to Alec Hogg about their incredibly successful venture as BrightRock celebrates its 10th birthday.
Life insurance policies help policyowners financially prepare for the unexpected. But what if something happens to the child of the person who has taken out the policy?
Like many industries, life insurance has been affected by COVID-19. However, we will only begin to see the real impact of it in a few years.
According to the latest Long-Term Insurance Ombudsman’s annual report, published in May 2020, the bulk of the complaints received in 2019 related to funeral insurance policies
South Africa features a highly regulated financial services industry, with specific rules that apply to insurers who provide funeral insurance cover and to the agents and representatives who sell this.
BrightRock CEO Schalk Malan says the insurer is on its way to becoming the market leader in South Africa’s life insurance market.
Schalk Malan, CEO of BrightRock, shared his thoughts on the highs and lows of being in the insurance space during a global pandemic.
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We live in a digital world where information and data can be shared across the globe in a matter of minutes. With cybercrime on the rise, we want to help ensure you’ve got the tools to keep yourself safe and informed.
Call our 24-hour helpline on 086000 6335, manned by ODEK Technologies, if you’ve received a suspicious email, text message or email involving BrightRock. You can also email us at helpdesk@odek.co.za with the details of any suspicious online activity that you’ve come across. Please be sure to include your contact details in the email. We’ll then contact you, investigate and keep you updated on what we find. ODEK Technologies is BrightRock’s ICT partner.
Learn more about how you can stay safe online.