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 […]
Klapton Cyber article by Danny Joffe
In today’s world of Artificial Intelligence (chat GPT and similar platforms reached 100 million users in three months of being rolled out to the public compared to the internet which took over 10 years to reach that amount of users), online shopping, online communication and socialising and almost all transactions performed by business and service […]
CLIMATE CHANGE: WHATS THE WAY FORWARD FOR THE INSURANCE INDUSTRY?
The insurance industry is one of the sectors most impacted by the unpredictable consequences of climate change. The correlation between climate change and insurance poses significant challenges, prompting questions about how the industry can adapt to secure its sustainability. Accepting climate change as the new normal The increasing number of natural disasters such as wildfires, […]
Behind the Score: Unravelling the Mystery of Insurance Ratings – Part 1
In the intricate world of insurance, where choices abound, and uncertainties lurk, the importance of insurance ratings cannot be overstated. These numerical and alphabetical symbols serve as beacons, guiding consumers, investors and regulators through the complex seas of financial stability and reliability. Discourse in this article will delve into the nuanced realm of insurance ratings, […]
How Technology Is Transforming Agriculture Insurance (Part 2)
In the first part of this article we looked at some of the challenges that are shrouded in the implementation of traditional agriculture insurance and how this has been further complicated by the emergence of climate change which has made traditional agriculture insurance increasingly inadequate thereby necessitating a shift towards technological innovations. The advent of […]
How Technology Is Transforming Agriculture Insurance (Part 1)
On the 13th of December 2023 the Zambian Government through the Ministry of Agriculture unveiled its 2022 to 2026 Agriculture Strategic Plan. In the plan were a number of deliverables that included set targets to develop 20 Climate Smart Agriculture Technologies and Practices by 2026 against a baseline of 5 that were set in 2021. […]