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Africa
Insurance & Reinsurance
Rule changes and digitalisation will reshape the way insurance products are distributed.
Recent and upcoming changes in the insurance regulatory landscape will shake up traditional distribution channels in South Africa, leading to a decline in the number of traditional insurance intermediaries.
The main drivers behind this predicted trend are:
These changes come at a time in South Africa when the introduction of digital distribution models is growing and becoming a main method of insurance sales by many insurers. Digital platforms are gaining increasing recognition, including being recognised by the regulators who now specifically regulate the provision of automated advice. As a result, traditional intermediaries are increasingly being bypassed and their numbers will fall in the coming year and beyond.
Read the rest of our insurance predictions here.
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