Current and future state of bancassurance in SA

Bancassurance, says the oracle or finance definitions online (aka Investopedia) is : …is an arrangement in which a bank and an insurance company form a partnership so that the insurance company can sell its products to the bank’s client base. This partnership arrangement can be profitable for both companies. Banks can earn additional revenue by selling […]

South Africa ranks 2nd in financial inclusion study

The Brookings Financial and Digital Inclusion Project measures South Africa one place behind Kenya in terms of financial inclusion. I’m still working my way through the full report, but Kenya’s score is a significant jump above South Africa and the closely contested positions below it. Is Kenya genuinely making such inroads or is this a […]

The worst insurance policy in the world

Aviva in France is still dealing with having written the worst insurance policy in the world. From the sounds of things, they weren’t alone in this foible. It’s also hard to say as an outsider what the right or reasonable resolution to their current problem is, but here is the policy that they wrote. Buy […]

SA85-90 “combined” and more actuarial sloppiness

I know of far too many actuaries who think that the “average” SA85/90 table is an appropriate base for their insured lives mortality assumption. It’s not. It’s also a good example of “actuarial sloppiness”. To be specific, it is equally inappropriate if your current experience is a reasonable fit for the combined SA85/90 table. SA85/90 […]

LAC Seminar 2013 live tweeting complete list

A few people have mentioned that they found my “live blogging” or tweeting of the 2013 LAC Seminar in Cape Town and Joburg useful. I used the hastag #LACseminar2013. I’m repeating all of them here in case they’re useful in a slightly more long-lived medium of my blog. I didn’t cover all the sessions – […]

Open mortality data

The Continuous Statistical Investment Committee of the Actuarial Society does fabulous work at gathering industry data and analysing it for broad use and consumption by actuaries and others. I can only begin to imagine the data horrors of dealing with multiple insurers, multiple sources, multiple different data problems. The analysis they do is critically useful […]