The Insurance Institute of South Africa (IISA) and its industry partners are set to host The African Insurance Exchange 2022 (AIE2022) virtually and in-person from 25-26 July at Sun City. The conference is being hosted again at Sun City following a two-year intermission from in-person events due to COVID-19 restrictions.
This year’s theme: Resurgence, Resilience and Revival emphasises the need for the industry to forge ahead despite the challenges that were experienced during tough COVID-19 restrictions. The theme further provides a platform for industry leaders to systematically review existing practices to prepare for a powerful upturn in the post-pandemic world.
The organising committee is excited to share details of the line-up of inspirational speakers and industry experts who are getting ready to engage with keen delegates at the AIE2022. The conference will feature a series of panel discussions exploring the conference theme and related topics. The governor of the South African Reserve Bank, Lesetja Kganyago will set the scene in his presidential honour, which is scheduled to take place on Monday, 25 July.
The keynote address titled ‘The Relevance of Insurance in the Economy’ will be delivered by Sello Moloko, the Group Chairman of the Absa Group. He brings along a wealth of knowledge and will share his experiences from his 30-year career in the financial service industry.
The future of insurance
Digital transformation has disrupted the insurance industry and it has resulted in the industry having to redefine itself and establish a roadmap for the future. Matthew Elan Smith, Co-founder of Pineapple will be part of the panel discussion that will be deliberating on evolving customer preferences, the future of insurance products and resilience as a competitive advantage.
Optimising the use of data The industry holds vast amounts of data about customers, products, pricing, risks etc. This presents an opportunity to use Big Data in combination with related technologies to develop new products and improve customer experience. Alexander Karvelas, Head of Global Consulting Unit SSA at Munich Re of Africa will be part of a discussion focused on the importance of data and how it can be optimised for tailored solutions for customers.
Health is an economic issue
The pandemic resulted in the South Africa’s economy becoming more depressed due to imposed lockdowns which were aimed at curbing the spread of COVID-19 says Thokozile Mahlangu, Chief Executive Officer of the IISA. Most businesses closed temporarily, and we experienced permanent closures of businesses that struggled to keep up with the effects of the lockdown, adds Mahlangu.
The topic ‘Health is an Economic Issue’ will concentrate on the risks to economic recovery post the pandemic, social gaps that were caused by the pandemic and explore opportunities for the insurance industry. Butsi Tladi, Executive Consultant at Alexander Forbes and President of the Financial Intermediaries Association (FIA) will be one of the panellists who will be deliberating these matters at the AIE2022.
Climate Change is a reality
Climate Change ranks number six (6) in the Allianz Risk Barometer 2022. The barometer details the most important business risks for the next 12 months and beyond, based on the insight of 2,650 risk management experts from 89 countries and territories.
The industry needs to prepare for future economic and insurance losses due to climate change. It also needs to examine the impact on future generations, risk models and explore innovative ways to deal with these risks. Shivan Hutton, Managing Director and Head of Marsh Specialty, Africa will be at the heart of this discussion with other industry experts.
Other topics which will be part of the AIE2022 programme include The Future of Underwriting, Cyber Risk Management, Erosion of Social Cohesion and many more. Overall, this year’s programme offers a broad range of content which will appeal to delegates across the industry. The diversity of speakers will ensure that delegates benefit from both a local and global perspective.
There is no doubt that the delegates who will be part of the AIE2022 will come out with new ideas and best practices and will be empowered to improve the state of the insurance industry and the economy at large.