Interview with Bright Rock CEO, Schalk Malan about their ground-breaking temporary disability cover
In October 2019 Needs-matched life insurance provider, BrightRock, announced enhancements to their temporary expenses cover. Read More
More recently Insurancegateway® Interviewed Schalk Malan to not only learn more about their product enhancements but also to talk about Bright Rock’s strategic objectives.
Here are some of the additional topics that we explored.
• Bright Rock’s journey to its current market position and their organisational goals.
• Bright Rock’s trust relationships with stakeholders and their Claims Approach.
In the short video clip that was published to the Insurance Gateway Youtube Channel you can watch ,Schalk Malan talk about these topics as well as how their needs-matched individual life offering which came on the back of the strong uptake among financial advisers of its other market-first product features.
BrightRock has particularly seen advisers and clients embrace its permanent expenses cover, with more lump-sum disability cover being placed with BrightRock than with any other insurer, according to the recently-released Swiss Re Individual Volume Survey for 2018. The annual survey found that advisers placed more non-occupational disability cover with BrightRock in 2018 than with the rest of the market combined in the large segment (sum assured greater than R2,4 million). BrightRock is now also ranked second in terms of market share of the large segment, sold through advisers.
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Reinsurance on a bulk basis. Occurs frequently at the inception or termination of a reinsurance treaty. Also used as a means by which a company may retire from a particular agency, territory, class of insurance business or from the insurance business entirely. All business in force of the type, line or class which the company desires to reinsure is usually reinsured by the payment of the unearned premium reserve to the reinsurer less an agreed commission ...