Profile: Schalk Malan, CEO, BrightRock

When I look at my entrepreneurial journey, coming together with my partners wanting to change an industry was challenging.

Interesting claims paid out for Group Risk cover

For many members who have Group Risk cover through their employer, this is the only cover that they have.

Income Protection cannot take an umbrella approach

Everyone has different circumstances that are distinct from the next person.

BrightRock’s needs-matched group risk product in action – certainty when members claim.

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.

Group benefits and disability claims: addressing changes

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.

BrightRock’s 2021 payout equal to all claims paid in its first 7 years in business

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.

SA’s life insurance sector: where do the opportunities lie for 2022 and beyond?

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.

Budgeting for the future: How your life insurance policy and savings plan work hand in hand

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.

Hybrid is the future

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.

How the pandemic has accelerated change in the insurance industry

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.

Examining the ‘why’ of insurance

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.

What you need to know about insurance fraud

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.

Women, breast cancer and life insurance: what you need to know

Every October, the medical community raises awareness about breast cancer and its impact on women of all races, nationalities, and socioeconomic backgrounds.

BrightRock: from zero to R2.1bn in premiums

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.

Why you should review your life cover regularly

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 for diabetics ‒ what you need to know

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.

Why short-term insurance is not the only insurance SMEs should be considering

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.

Why women need life insurance cover, whatever their age

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.

Are straightforward claims too complicated?

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.

Closing the trauma gap in critical illness cover

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.

E-cigarettes and your life insurance policy

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.

Life insurance and your savings plan

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 life insurance industry in a COVID-19 era: where to now?

The impact of COVID-19 on the life insurance industry was recently highlighted when ASISA released their 2020 statistics for the sector.

Insurance for the self-employed

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.

The ins and outs of Group Risk insurance

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,

Financial planning 101 for young adults

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: Our life insurance is not ‘one size fits all’

BrightRock founders joined the BizNews Power Hour to chat to Alec Hogg about their incredibly successful venture as BrightRock celebrates its 10th birthday.

Caring for special needs children

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?

COVID-19 on workplace disability claims

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.

Why must funeral policies be underwritten by an insurer?

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

What the law says about selling funeral insurance

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.

In Sanlam’s shadow or lighting its own spark? BrightRock has market leader ambitions

BrightRock CEO Schalk Malan says the insurer is on its way to becoming the market leader in South Africa’s life insurance market.

New ways to take up life insurance with CEO of BrightRock

Schalk Malan, CEO of BrightRock, shared his thoughts on the highs and lows of being in the insurance space during a global pandemic.

Needs-matched life insurer BrightRock announces strong growth in 2020

BrightRock announces strong growth in 2020, despite COVID-19’s challenges.

BACKSTORY: BrightRock CEO Schalk Malan

Financial Mail questioned CEO at BrightRock Schalk Malan on his top tip for doing a deal, hardest life lesson and the one thing he’d fix in SA.

Duane Vermeulen Leads The Pack At The 4th Annual Brightrock Players Choice Awards

These awards, in partnership with MyPlayers, honour and recognise the commitment, determination and talent of South African rugby players.

BrightRock Players Choice Awards

The BrightRock Players Choice Awards 2020 in partnership with MyPlayers will honour these superstars who played the bounce the best during this challenging time.

Advice has become the product

Advice has become the product. If great advice is a product, what are the differentiating features that set it apart?

To thrive in a pandemic, you need to reinvent your business

The COVID-19 pandemic has given rise to many debates. But if there’s one thing commentators appear to be united in, it’s the certainty that our world will be forever changed by it.

BrightRock need-matched products continue to provide certainty for clients, driving growth

BrightRock has provided an update on its business performance and growth

COVID: Will life cover pay out if you die from Covid-19?

With the global pandemic continuing to raise havoc and the rising infection rate in South Africa, you may have wondered what this could mean for your insurance products, such as your life cover. Will your insurer pay out if you pass away from corona-related causes? For this next part in our Covid-19 series, we reached […]

Is life cover really for life?

The inefficient structure of existing life insurance products impact value and sustainability of cover for clients.

BrightRock’s take on income protection polices

ncome protection policies have not yet gained a significant amount of traction, with lump-sum based capital disability products still dominating the disability insurance market in South Africa.

Three tips for getting life insurance that guarantees your children will have what they need when you’re gone

It’s something no parent ever wants to think about – dying before their children are not yet old enough to take care of themselves. It’s not just a question of who you can trust to look after them and give them all the love they need; it’s also a question of who will pay for […]

Income protection policies now come with better benefits

An informed financial adviser can be invaluable to ensure you obtain the right assurance for your needs Income protection insurance is crucial for anybody who depends on their monthly income. Policies offering these benefits have evolved and become more consumer-friendly, but you need to know what to look for to get the best benefits. Ernest […]

BrightRock launches market-first advancements to its temporary disability cover

Needs-matched life insurance provider, BrightRock, has announced enhancements to its temporary expenses cover – changes that, according to its CEO, Schalk Malan, it hopes will significantly benefit policyholders and filter through to the rest of the industry.

Client-centric approach key to insurer’s success

Adapting a different, client-centric approach which precisely matches clients’ needs and offers them 40 percent more cover for the same premium is the key driver to what has elevated life insurer BrightRock to reach the R1 billion mark in claims. This since entering the market only seven years ago, says BrightRock chief executive Schalk Malan. […]

Life assurance’s best-kept secret?

When you leave your employer you lose your group life cover. If you don’t get the same benefits from a new employer, it can leave a huge hole in essential cover you need to ensure you have an income if you are disabled or your family is provided for when you die. But there is […]

What are people entering the job market looking for?

Young people of today have high expectations and even greater idealistic views when it comes to their employment decisions. According to a recent international study, millennials make up 31.5% of the global population and Generation Z make up 32%. With those numbers, it would be foolish to overlook their generational characteristics and ignore their professional […]

Cover yourself properly to ensure you earn even while ill

About seven out of 10 people will suffer a temporary disability in their lifetimes and an income protection policy helps ease the burden Not all income protection policies are created equal, and being aware of key features to look out for can avoid disappointment and a financial shortfall at claims stage. An income protection policy […]

Bundling life insurance as newlyweds: Will you save?

Getting married signals quite a few extra expenses, whether it be on the wedding party or furnishing a new home. Therefore, you may be looking to save on costs such as your insurance. One such way is bundling your insurance. But is this the best option? Justmoney looks at bundling life insurance and how this […]

Why is having disability cover important?

When we’re expecting our first child, we’re quick to put life insurance policies in place. But what about protecting our human capital from disability? Most people see life insurance as a no-brainer to protect themselves against losing their income due to death. But few people consider protecting their human capital in the event they become […]

Marriage is an emotional and financial package deal

Five key financial matters you need to consider before flying off on your honeymoon MARRIAGE is not only about taking care of each other’s emotional well-being, but also your mutual financial well-being. So while you’re planning a lifetime partnership with your loved one, here are five financial questions to ask once you’ve popped the question: […]

Loss of income is dangerously underestimated

You are nine times more likely to have a temporary disability than to have your car stolen or hijacked in SA, Brad Toerien, CE of life insurer FMI says. Most people don’t think twice about insuring their car, but few consider protecting the income that makes paying for it possible, he says. It costs about […]

It’s your funeral, so weigh these factors well

We unpack the many considerations when buying this insurance Funeral insurance is the most popular financial product in SA and there is lots of competition for your business, but it isn’t easy to compare policies to ensure you are getting a fair deal. If you ask a number of providers for quotes, you will find […]

BrightRock shows the way in innovation

BrightRock is no longer a small player: last year it had annual premium income of R1.6bn and new business of R433m At a time when insurtech businesses are cutting out the middleman, BrightRock, just seven years old, stands out as the poster child for the traditional intermediary-based model. Its total premium income was up 43% […]

Increase your cover with future insurability

Future insurability benefits mean that when you want to increase your life cover after a major life event such as the birth of a child, a marriage or divorce, you may be entitled to do so without undergoing a new under writing process. Make sure you understand how your policy works, as there are differences between […]

BrightRock announces 2018 business performance

BrightRock’s 2018 performance features strong growth and bright opportunities BrightRock achieves strong new business growth, with total premium income increasing by 43% year on year Total cover in-force now exceeds R250 billion Total in-force annualised premium income grows to R1.4 billion, with activated annualised premium income for the year of R433 million Lives covered grows […]

5 Things to Know about Group Risk Cover as an Employee Benefit

Group risk cover is likely to be one of the deductions on your pay cheque if you are receiving employee benefits as part of your monthly salary. But what exactly is it for, and how can it make a positive difference in your life? Schalk Malan, CEO of BrightRock, explains why you might not be […]

How BrightRock Is Disrupting The Insurance Industry With These 2 Pivotal Strategies

By Monique Verduyn Developments in technology, and clear communication are positioning BrightRock to disrupt their industry and transform the consumer experience. BrightRock was started around a dining room table in 2011 by four people with years of industry experience and — importantly — a diverse set of complementary skills. They wanted to make changes to an […]

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