Executive summary
The Guidewire Insurance Forum 2025 in Sandton brought together key industry leaders, technology innovators, and business partners to discuss the future of insurance, digital transformation, regulatory challenges, and cloud adoption.
Exhibitors included AWS, Earnix, EY, GhostDraft, PWC, Tech Mahindra, and Zensar, while COVER provided media coverage.
Key Themes and Takeaways
1. Shaping the future of insurance – Christina Lucas, Guidewire
Christina Lucas, Global Head, Industry Advisory at Guidewire, set the tone for the event with an insightful keynote that explored three critical challenges facing the insurance industry:
- Rising natural catastrophes – Climate change is increasing insurance risks, demanding smarter risk modelling and claims management.
- Economic volatility – Supply chain disruptions, FX fluctuations, and local issues (power outages, cyber threats) necessitate adaptive insurance solutions.
- The widening protection gap – Two-thirds of the global population remains underinsured, creating massive opportunities for insurers to expand coverage through technology.
Call to action:
Christina emphasised the need for modernisation through cloud adoption, AI, and real-time analytics. South African insurers, already leading in innovation, must scale solutions across Africa and build agile, trust-driven ecosystems.
2. Balancing innovation and regulation – Alfred Makudu, AWS
Alfred Makudu, Financial Services Go-To-Market Leader at AWS, tackled the delicate balance between innovation and regulation in insurance. He highlighted:
- Top 6 innovation areas:
- Core Systems Transformation (Underwriting, Policy Admin)
- High-Performance Computing (Advanced risk modelling)
- Personalisation (AI-driven insights)
- Customer Experience (Beyond claims & renewals)
- AI & Automation (Generative AI, chatbots)
- Embedded Insurance (Seamless distribution in retail, telecom, gig economy)
Surprising insight: Contrary to popular belief, strong regulatory frameworks encourage innovation. South Africa’s clear cloud compliance laws have driven higher cloud adoption than in less regulated markets.
Key takeaway: Compliance is not a barrier—it’s a strategic advantage. AWS’s continuous compliance model is helping insurers automate regulatory adherence while accelerating innovation.
3. Navigating cloud migration – Sean Berrington, EY
Sean delivered a practical roadmap for cloud migration, using real-world case studies:
The rushed migration – A financial services giant overcommitted too early and partnered with the wrong vendors, leading to cost overruns and delays.
The failed lift-and-shift – A conglomerate migrated workloads without optimizing, tripling operational costs instead of saving money.
The cloud-native success – A digital insurer built its entire infrastructure in the cloud, gaining agility, security, and cost efficiency.
Best practices for cloud success:
- Define a clear cloud strategy (IaaS, PaaS, SaaS?)
- Conduct deep discovery assessments before signing contracts
- Migrate in phases, ensuring regulatory alignment
- Build a strong governance framework for long-term resilience
Key lesson: Cloud is not just about cost savings—it’s about scalability, speed, and future-proofing operations.
4. Emerging trends in Sub-Saharan insurance – Tony van Niekerk, COVER Advisory
Based on industry research, five key trends are shaping Sub-Saharan insurance:
- Digital transformation & AI – AI-powered underwriting, automated claims processing, and data-driven decision-making are reshaping insurance.
- Cybersecurity & Cyber Insurance – With 99% of cyber losses uninsured, insurers must develop more robust cyber coverage.
- Regulatory evolution – Compliance with IFRS 17, AML laws, and ESG mandates is creating new operational complexities.
- Climate change & Parametric insurance – Faster payouts for climate-related losses are driving demand for parametric insurance models.
- On-demand & embedded insurance – Insurers are moving toward real-time, usage-based, and IoT-driven policies.
Action plan for insurers:
- Leverage AI for risk assessment
- Develop cyber insurance solutions
- Turn compliance into a competitive advantage
- Expand embedded insurance into new sectors
5. Santam’s digital transformation journey – Mark Fuller, Santam
Mark Fuller, Program Manager at Santam, provided a real-world case study on legacy renewal and cloud adoption.
Santam’s journey:
✔️ Adopted Guidewire PolicyCenter & BillingCenter (2012-2018)
✔️ Upgraded ClaimsCenter & DataHub (2018-2022)
✔️ Consolidated digital capabilities & API-driven integrations
Biggest challenge? Legacy system upgrades – Each upgrade took 1+ year, with 6-month freezes, frustrating business operations.
Solution: Migrating to Guidewire Cloud
Benefits:
✔️ Automatic upgrades (no more year-long disruptions!)
✔️ Faster digital product launches
✔️ Seamless AI & data integration
Key Takeaway: Cloud is not just an IT upgrade—it’s a business transformation enabler.
6. The critical role of IT in Governance – Kevin Wright, Artecho Consulting
Kevin Wright delivered a wake-up call on why IT governance is now a board-level priority.
Challenges:
- Cybersecurity threats – Insurers face growing legal & reputational risks
- Regulatory compliance – South African insurers must now meet banking-level IT governance standards
- Legacy vs. Innovation – Boards must stop underestimating IT investments
Reality check – Would a board approve a financial model without an actuary? Then why approve billion-rand IT projects without an IT expert in the room?
Final insight – Boards must prioritise IT expertise to ensure secure, scalable, and regulatory-compliant digital transformation.
Closing thoughts: The future of insurance is here
The Guidewire Insurance Forum 2025 reinforced one key message – Innovation is no longer optional. South African insurers must embrace AI, cloud, and digital ecosystems to remain competitive.
Three key priorities for insurers:
- Adopt Cloud & AI – Scale faster, innovate smarter, and streamline compliance.
- Close the Protection Gap – Affordable, accessible insurance solutions are an untapped market opportunity.
- Foster Agility & Trust – Insurers must build resilience, strengthen governance, and earn customer trust through seamless digital experiences.