Introducing the FIA Market Intelligence Tool

The MIT is a digital, web-based dashboard that gives you instant access to a range of non-life insurer data.

What is the MIT?

The tool was developed by the FIA in partnership with The Data Company and Linktank to address members’ needs for up-to-date information on non-life insurance providers.

The tool will support the Financial Sector and Market Intelligence component of the FIA Strategy, by assisting members to meet their compliance requirement insofar establishing insurer solvency.

The platform allows you to search and reference non-life insurer data provided by reliable sources such as audit firm KPMG South Africa, the Insurance Ombudsman (Short-term / Non-life) and Global Credit Ratings. (GCR).

The Market Intelligence Tool in action

The dashboard is intuitive, allowing you to input search criteria to access a range of non-life insurer data, including:

The tool draws from historical data of all of South Africa’s major non-life insurers including premiums written; liabilities; assets; earned premiums; net investment income; and more.

Data can be displayed as trends over time, or as data sets for specific reporting periods. The tool also allows you to compare up to five insurers on a single screen.

How can the MIT help your business?

The information that financial advisers need to complete a due diligence on potential insurer partners is not always readily available.

The MIT addresses this shortcoming by making this information available with a few quick keystrokes. The tool is also useful during client interactions, allowing you to draw a report on a preferred underwriter and include it as part of the record of advice.

Overall, the tool gives adviser and client peace-of-mind that the sustainability of a recommended non-life insurer has been considered during the advice process.

The MIT has been designed to make a tangible difference to FIA members

The FIA believes it will give you an edge when advising clients on non-life insurance cover. It will certainly promote peace of mind about the recommended insurer’s solvency and future ability to pay claims.

We invite you to register today, and keep us updated on how the tool adds value in your business.