Finding Balance in the Fast-Paced Corporate World
By Deborah Mafu Jilowa In the fast-paced corporate world, it’s easy to get caught up in constant work without taking time for yourself. Over time, this can lead to burnout, decreased performance, and even long-term health problems. While hard work is essential, working smart is the key to thriving. Striking a balance between your professional […]
Developing Human Capital in the Age of Technological Disruption
By Aaron Machaliwa In an era of disruptive technological advancements, are organizations developing their human capital at the pace at which technology is advancing? Recent disruptive advancements in technology include the development of Artificial Intelligence (AI) and the rise of Big Data. As companies grow, there is a need not only to collect data but […]
Industrial Special Risk (ISR): A Facultative Reinsurance Perspective
By Pious Ngolwe INTRODUCTION Industrial Special Risk (ISR) insurance policies are essential for businesses that manage substantial, high-value assets. These policies are designed to protect businesses from significant financial losses caused by a range of events, including fire, theft, natural disasters, and equipment breakdowns. Given the comprehensive nature of ISR policies, insurance companies often turn […]
Insurance Market Triggered By El-Nino
By Dean Simuchimba The 2023/24 farming season was one of the worst experienced in the Sub Saharan African region for rain-fed agricultural crops due to the devastating drought caused by the El-Nino weather phenomenon. The event induced by dry and hot weather from ocean currents decimated crops leaving behind scorched fields and nothing for farmers […]
The Impact of Climate Change on Reinsurance Claims
By Klapton Re Claims Department The Impact of Climate Change on Reinsurance Claims Climate change is no longer something we expect to happen far in the future. It’s happening now, and it’s affecting the weather in ways we’ve never seen before. Natural disasters like hurricanes, floods, wildfires, and droughts are becoming more frequent and severe. […]
Pay as Paid Clauses
By Danny Joffe It has become common in primary insurance policies for Insurers to insert what we call “pay as paid” clauses. This often occurs where the Insurer is concerned about the credit risk of the reinsurer being used or where the policy holder insists on a specific reinsurer being used by the Insurer to […]
Zambia’s first Insurtech conference – A timely event.
There is a wave of excitement among players in the insurance industry in Zambia over the announcement of the inaugural Insurtech conference to be held on the 26th and 27th September 2024 and Klapton Re is not an exception. The event organised by Gralix, a Zambian actuarial consulting firm is expected to showcase some of […]
Interesting Recent Ombud Insurance cases and court rulings from South Africa
One of the strongest guidelines we have when determining cover for claims, as claims administrators or even the more senior executives of insurers, is the precedent that is handed down by court judgments and Ombud cases. We’re fortunate to have a professional Ombudsman’s office, now the National Financial Ombudsman, providing clear dispute resolution. Recent court […]
Dangers of Climate Risk on Poultry: an Insurance Perspective
Poultry is a sub-sector of the livestock enterprise that largely comprises rearing of birds for consumption of their meat or by-products like eggs. Although poultry farming can broadly be defined as the rearing of birds such as Ducks, Geese, Turkeys and Ostriches for domestic or commercial use, our focus is on chickens as they constitute […]
Reinsurance Claims and Customer Experience: Enhancing Satisfaction in a Complex Landscape
By Daisy Siwawa – Claims Manager In today’s world of Artificial Intelligence (chat GPT and similar platforms In the reinsurance industry, the handling of claims is a critical process that can significantly impact customer experience. Reinsurance, which involves insurers transferring portions of risk portfolios to other parties to mitigate the potential for large losses, often […]