Source – Santam 01/11/2018
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Dear Client
We are officially in the wildfire (down south) and hail season (up north), and it always brings with it a certain sense of anxiety among everyone directly involved in the short-term insurance environment – be it insurers, reinsurers or intermediaries.
This anxiety is justified to the fact that large parts of South Africa have been ravaged by wildfires and hailstorms over the last three years. These have resulted in significant insurance claims for most South African insurers. In June last year we experienced the devastating firestorm in the Southern Cape (including large parts of Knysna), and we received more than 2000 claims related to storms and hail in Mpumalanga, KwaZulu-Natal, and the Southern parts of Limpopo, Gauteng, and Northern Free State. The above events resulted in 2017 being the costliest 12 months, in terms of natural catastrophe losses, in Santam’s 100 year history and the biggest catastrophe event in the history of the South African short-term insurance industry.
Over the last three weeks we have already seen advisories for heavy rain and thunderstorms in some areas of KwaZulu-Natal, Gauteng and Mpumalanga from the South African Weather Service. We have also seen a marked increase in fires in the Western Cape, with several blazes that have sprung up recently.
This last week, firefighters in the Western Cape have been battling blazes in Kosovo informal settlement in Khayelitsha, Overcome Heights in Vrygrond and along the Garden Route. A devastating fire in the Bosdorp community in George led to the death of at least eight people, among other a pregnant woman, two toddlers and a baby. The areas of Blanco Golden Valley and Step-Aside were also evacuated as a precautionary measure.
Climate change will over the foreseeable future likely continue to contribute to extreme weather events. Unpredictable weather puts immense pressure on consumers and how they should mitigate such risks. Hail and fire especially are extremely destructive natural weather phenomenona, and it is critical that you engage with clients in areas with a high probability of being affected, to ensure they are prepared to avoid a potential financial disaster.
SANTAM CERTIFIED AS TOP EMPLOYER IN SA FOR THE THIRD YEAR RUNNING
We are pleased to share that we have for the third consecutive year been certified as a Top Employer in South Africa by the Top Employers Institute, the global human resource excellence certification company. The certification recognises excellence in employee conditions and Santam’s ongoing commitment to ‘people-first’ practices, which include a strong transformation agenda and dedication to talent management.
Enid Lizamore, our Executive Head of Human Resources, says this certification gives us an opportunity to critically look at our people practices and ensure that we are challenging ourselves to give our people the best possible ‘deal’ in working at Santam. “For the last 100 years, our people have been our focus. And they’ll continue to be so for the next 100 years and more. Ultimately, we know that the best way to entrench resilience is to build a people-focused organisation with a strong employee value proposition,” she explains.
SANTAM VOTED TOP BUSINESS INSURER IN SUNDAY TIMES TOP BRANDS SURVEY 2018
The results of the annual Sunday Times Top Brands Survey 2018 were revealed and Santam was named the top performer in the business category for short-term insurers.
The annual independent research survey was split into two main segments – ‘consumer’ and ‘business’ – with separate winners named based on feedback from each participant groups. The business sample represents businesses of all sizes, with decision-makers participating in online self-complete interviews.
Mokaedi Dilotsotlhe, Santam’s chief marketing officer, says that the Sunday Times Top Brand Award is the longest running brand survey in South Africa and is a firm endorsement that we are delivering on our brand promise of insurance good and proper. “The awards celebrate brands that have stood out from the crowd. It is encouraging to note that an increasing number of businesses see Santam as a trusted and reliable brand. We believe this is because our short-term insurance solutions do what they are supposed to do when it matters most,” he says.
SANTAM SOS EXTENDS SERVICE OFFERING
As an extension of our 24/7 SOS and claims line, our Client Response team have introduced a new initiative in dealing with Personal Lines claims relating to traumatic events such as a hijacking or armed robbery. We are mindful these events have the potential to leave individuals feeling shocked, disorientated and distressed.
The team will contact the intermediary to provide context of the initiative. Thereafter, the team will check in with the policyholder and/or closest family member to enquire if they need further assistance and also remind them of the trauma cover available to them on their Personal Lines policy.
In addition to demonstrating our commitment in delivering insurance good and proper beyond simply the claims stage, this initiative also sets out to address the psychological and emotional wellbeing of those impacted by a traumatic event. The right care and support help clients return to their normal routines and leave them better prepared to deal with the aftermath of other traumatic events or crises.
Initial feedback from intermediaries, policyholders (and closest family members) have been very positive so far and many have expressed their appreciation that Santam cares. Fortunately for the business, the volumes of these traumatic incidents remain low. We will though be exploring other opportunities to expand this initiative in the coming months.
MONEY SMART WEEK
In other uplifting news we were instrumental in the inaugural Money Smart Week held in Mamelodi, Tembisa, Alexandra and Soweto this month. Focused on consumer financial education (CFE), the event – which was championed by the National Treasury and coordinated by the Financial Sector Conduct Authority – brought together multiple stakeholders with a common cause: to up SA’s financial literacy in order to empower people to make better decisions. As Santam we have made it a long-term commitment to provide financial education opportunities for communities who previously would be uninformed on financial pitfalls and opportunities.
