On the back of the global pandemic e-commerce has grown exponentially, in turn driving the demand for courier services. By offering customers comprehensive insurance cover for their goods in transit, courier companies can gain preference over competitors – and load a new revenue stream to their business.

Research has shown that petting and playing with animals reduces stress, in as little as a few minutes. Globally, the last two years have surely been the most stressful time in modern history. As we faced one isolating lockdown after another, where did many of us turn for comfort? To animals. Pet adoptions soared globally and in South Africa. Pets give us comfort. Pets give us hope. Pets give us unconditional love. Do we give enough in return?

Neobanks, also called challenger banks or digital banks, are fintech companies that are branchless and paperless, instead using digital channels including apps to service their customers’ banking needs. They draw on the latest software and artificial intelligence to engineer tailor made services, while minimising operating costs. 

In 2020, global debt exceeded US$ 220 trillion, as the largest one-year surge in world debt since World War II was marked. The main reason? Covid-19. Lockdowns, disruption and loss of income have flowered during the pandemic. In 2022, many consumers are still tackling debt, often turning to loan or debt consolidation providers.

Verified Market Research recently published a report, “Digital Remittance Market”, which revealed that the global remittance/money transfer market was valued at USD 15,9 Million in 2020 and could reach USD 40 Million by 2028. In southern Africa, where migrant work is common and many families have members abroad, the market is especially thriving.

Embedded insurance transforms the paper-based insurance value chain into digital form, enabling non-insurer third parties to integrate insurance products into their platforms.

Insurtechs specialise in bringing together consumer demand and insurance cover wherever gaps in the market exist. One such gap is right in front of your eyes, if you click over to any property website temporarily. Is there a property-related insurance offering on it? If not, there’s the gap. 

The extended warranty industry. Think about it much? You should, because it’s growing fast – the global extended warranty market was valued at about $120 billion in 2019 and is projected to reach almost $170 billion by 2027.

Traditional insurance serves consumers’ long-term needs on a holistic level, especially through life insurance and medical cover, where policies run for decades. But such policies are unaffordable to millions – and do not fill the many insurance gaps in consumers’ lives. That’s why there’s a global boom in microinsurance – and it’s not just for insurance companies.

Anything new brings with it a degree of confusion, misinterpretation and misunderstanding and insurtech (insurance technology) is no different. We unpack some of the major misconceptions around this game-changing software, in a must-read for insurers.