A media release on FANews

Some good news – we have a ‘review’ of the book on leading short term insurance website, fanews.co.za

Your comprehensive overview of SA’s short term insurance industry

Gareth Stokes, communications manager at the FIA and ex-editor at FA News Online has teamed up with Liz Still – author of the popular Healthcare in South Africa guide – to write a comprehensive overview of South Africa’s short term insurance industry.

The book – titled Short Term Insurance in South Africa 2016 – is a compelling read that tracks market share among short term insurers; demystifies competition in the short term insurance broker space; and lays bare the fundamentals of insurance to name a few. Readers will find everything they ever wanted to know about short term insurance in its 360 pages.

Insurance fundamentals

In its opening chapters the authors take a look at the basic building blocks of this important sector by discussing topics such as insurance fundamentals and the business case for insurance. Readers will be pleasantly surprised to learn about the many ‘behind the scenes’ workings of an industry that they tend to take for granted.

The real ‘meat’ of the book is contained in the chapters that discuss the types of insurers and their functions; take a closer look at the South African short term insurance landscape; and explain the different types of short term insurance cover.

The short term industry is discussed in such detail that Frans Nel, Marketing Director, The Marketing Centre, suggests the book be renamed: ‘All you ever wanted to know about short term insurance in South Africa’. “Whether you are a seasoned insurance professional or a young intern, you will find tremendous value in its pages – the subject matter is dealt with in language that is easy to understand, and is written in a way that keeps the topic interesting,” he said.

Excellent feedback from commentators

Short Term Insurance in South Africa was launched at the Insurance Conference 2016. Since then the book has received excellent feedback from a number of respected industry stakeholders. Carel Nolté, Founder of CN&CO was notably impressed by the publication: “Congratulations on your book, which I have just finished reading. I was expecting it to be ok and am blown away by how good it is. Informative, well-written, interesting and covers a broad range of topics – most useful.”

There is broad consensus that the book will be useful to many ‘readers’ in the financial services sector and that it is a ‘must have’ for anyone working in the short term insurance sector. David Harpur, CEO, IISA describes the book as “a valuable addition to the insurance market, not only for those who spend most of their lives working in the industry, but also for those who want to get a better understanding of how the market operates; who the key players are and how the industry is regulated.”

The authors devoted three chapters in the book to the important topic of regulation. The first chapter contained a detailed overview of South Africa’s financial services regulatory environment including a laypersons’ guide to how the country’s laws are made. The second chapter considers the laws currently in force in the short term insurance environment with a focus on the Short Term Insurance and FAIS Acts. And finally – the third regulatory chapter considers proposed new laws and policy objectives such as the FSR Bill (Twin Peaks Bill), the Insurance Bill and the Cofi Bill.

“If you aim to be a ‘professional’ insurance practitioner I would advocate getting your hands on a copy of this book – it will give you a better understanding of the opportunities that exist in our profession,” says Tony Tsuen, Head of Technical: Market Development, Discovery Insure.

Students who are preparing for their regulatory exams; consumers who want to know more about the concepts and terminology used by insurers; and professionals such as auditors, marketers and public relations practitioners will all benefit from reading the book.

©2019 S&S Analytica

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