Small Business Impact
The past few years in South Africa has clearly illustrated the risks faced by SMEs in the country. From business interruption during the COVID-19 pandemic to riots and looting and most recently, the devastating damage caused by flooding and other weather related losses.
No doubt, insurance is the most effective way to mitigate these risks, opening a massive growth opportunity for the insurance industry as a whole, with even direct insurers taking advantage.
Read all about insuring this integral part of our economy in the SME feature in this months edition of COVER.
Happy Reading.
SME’S 2022.
The past few years in South Africa has clearly illustrated the risks faced by SMEs in the country. From business interruption during the COVID19 pandemic, riots, looting, and recently the devastating damage caused by flooding and other weather-related losses.
No doubt, insurance is the most effective way to mitigate these risks, opening a massive growth opportunity for the insurance industry, even direct insurers have taken advantage.
The fact that insuring SMEs requires very specific advice, has led to brokers updating expertise and resources needed to take advantage themselves and direct insurers bringing back relationships with brokers. All these factors will lead to this space seeing the best growth and innovation in our industry over the next few years.
Long live advice!
Lulu Rasebotsa
Our contributors for April.
Johan Kleu