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As many parts of the world deal with the Third Wave of Covid-19 infections, there are growing concerns that South Africa may face harsher lockdown measures in the future as the country ramps up its vaccine roll out program. This will have a telling impact on society and will only accelerate the reliance on ecommerce business models as the public prioritizes their health and safety.  Unfortunately, this also means that there will be a challenging, risk driven environment ahead of us when it comes to fraud. This was highlighted at the Southern African Fraud Prevention Service (SAFPS) & Insurance Crime Bureau International Fraud Summit which was held virtually on 19 May 2021. 

Increased Risk

“We are really reaching a critical point when it comes to the economy and the extreme measures that criminals will use to perpetrate fraud,” says Manie van Schalkwyk, CEO SAFPS, “the 2020 statistics, that were collected by the SAFPS, indicate that there are significant increases in key areas and that there is a long road ahead to address this challenge.” The SAFPS reports that an area which saw a major increase was fraud listings which increased by 62%. In addition, victim listings up by 54%. Perhaps the most concerning statistic coming out of the recent SAFPS report is that impersonation fraud has increased by 337%. “This is extremely concerning. Impersonation fraud is the act of a criminal impersonating another person by stealing their identity and then open accounts in their name. The fraudster has details of the victim and trying to take over account.  The credit provider will ask the questions normally asked to the account holder. Because of data breaches, this information is available to the fraudster making it easier to take over the account.  They then take over the account and leave the victim with massive amounts of debt that they never took out in the first place,” says Van Schalkwyk who adds that technology has also improved significantly, and it is currently very easy to make a fake application look very legitimate. 

The importance of biometrics

One of the most significant stats from last year is that impersonation fraud has increased by over 300%. This has highlighted the importance of biometrics and the role that it will play in the future fight against fraud. Dalene Deale is the newly appointed Executive Head of Secure Citizen and delivered an insightful presentation that focused on keeping ahead of fraudsters with biometrics. “Fraudsters are relentless when it comes to coming up with new ways to steal information and impersonate consumers. They use technology, tenacity and time, as their basic tools. And they only need to get in once to craft a new Modus Operandi,” says Deale.  Legitimate business owners working with clients’ information must get it right every time. So do your consumers, they must know how to protect their data and be proactive about it. “Another thing that fraudsters use to their benefit, is the fact that legitimate businesses don’t share as liberally as they do. It is important to highlight that there are two kinds of victims in an impersonation scam, both the consumer and corporates. We don’t teach enough, speak up enough, work together to find ways to fight against it. Regardless of industry,” says Deale. She adds that fighting fraud is a collaborative effort. “In our business, we have partnered with the trusted custodians of fraud prevention in Southern Africa, and we too use technology, tenacity and innovation to fight against fraud to create a trusted way for everyone to use the digital era. With data breaches on the rise, relying on information to prove the authenticity of an individuals identity is no longer enough. We have to use the unique attributes of an individual to verify that they are who they claim to be. It is for this reason that Secure Citizen uses multi-modal biometrics to close the gap between corporates and consumers, leaving no place for fraud! Only consumers have the right to use their biometrics, it is their birth right. They also have a right to revoke permission for the use thereof and this is the foundation of our business model,” says Deale. Secure Citizen enables consumers to either enrol themselves or they can be digitally enrolled via corporates into the Secure Citizen registry.  Biometrics are enrolled and verified using Artificial Intelligence and all future interactions are verified by the consumer, through either face, voice or fingerprint. 

Other factors

Van Schalkwyk points out that when it comes to combatting fraud, one needs to use every tool at their disposal to make sure that consumers have adequate protection. “In addition to voice biometrics, facial matching is important because these are important elements when it comes to building the full profile of the consumer. Secure Citizen offers solutions that ranges from a quick verification of the consumer in a transaction to know-your customer (KYC) which is something that every company aims to achieve. Especially when it comes to financial institutions,” says Van Schalkwyk. Mike Haley, Chief Executive of Cifas in the United Kingdom provided some insights into facial matching while Vanda Dickson, Executive Head of OneVault, and Brad Scott, Cofounder of Onevault Africa and Group Executive: Operations & Product, launched the Imposter Voice Service to SAFPS members at the Summit. 

Driven by data

The reason why fraudsters are so capable of impersonating consumers and representatives of the financial institutions that consumers belong to is that they have access to huge amounts of data that provide personal information that is needed to perpetrate this kind of fraud.  The only way to combat this is to beat them at their own game. Key to the success of Secure Citizen, as well as other key services that are offered by the SAFPS, is that they are run by huge amounts of data that is processed in real time and can provide an accurate picture of a consumer that companies can use to ensure that they are dealing with the right person. Portia Matsena, CIO of BankservAfrica, discussed how data is an enabler for artificial intelligence and biometrics at the Summit. 

Important protection

In addition to the risk that consumers face when it comes to fraud, the landscape when it comes to data protection is also currently significantly risk based. In 2020, South Africans faced two major data breaches “The protection of personal information is becoming a major issue,” says Van Schalkwyk, “consumers need to know that the information that they hand over to their banks and other financial institutions will be handled in a responsible manner and that the data leaks that we experienced last year cannot be a regular occurrence.” While consumers do face some measure of risk when it comes to this, there is growing protection in the form of the Protection of Private Information Act. Era Gunning, Director of Banking and Finance at ENSafrica discussed this in her presentation at the Summit. 

A new environment

“One of the trends that we have seen during the Covid-19 Pandemic is that there is a definite shift towards online consumerism and that there needs to be a significant adjustment in the shaping of business post Covid-19. This applies not only to consumers, but to companies and those who fight against fraud,” says Van Schalkwyk.  There was a key panel discussion covering this topic of a changed future between Mark Brits, Senior General Manager at Prudential, and The Banking Association of South Africa and Johan van Graan, the Chief Risk Officer at Vodacom. “At the end of the day, there is no substitute for awareness and vigilance. As always, the SAFPS urges consumers to be vigilant when it comes to fraud and to remain cognisant of the fact that they face increased risk of becoming victims,” says Van Schalkwyk.

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ISSUED FOR AND ON BEHALF OF Southern African Fraud Prevention Service (SAFPS)

BY:LOLA LAZARUS
OF: BULLION PR & COMMUNICATION
CELL:  083 271 5336
EMAIL: This email address is being protected from spambots. You need JavaScript enabled to view it.
SAFPS HELP-LINE:  011 867 2234

Why is this so important? For several reasons – outlined below:

• The most recent global estimate of asthma in adults and children (2008 - 2010) suggests that as many as 334 million people have asthma
• Our asthma prevalence in SA is among the highest in the world
• In South Africa, between six and 10% of adults have asthma - according to the South African Medical Journal
• Asthma is the most common chronic disease among children worldwide and there are 50-million children under the age of 15 living with asthma in sub-Saharan Africa – most of them are in South Africa
• South Africa is ranked fifth in the world for asthma mortality – yet this is a disease that can be controlled
• According to the World Health Organisation - over 80% of asthma-related deaths occur in low-and lower-middle income countries
• The burden is not only in human suffering, but it also represents a significant economic burden on societies and health systems; estimates are that a majority of this future burden will occur in developing, rather than developed, countries
• Treatment and effective management of asthma saves lives – but asthma treatment approaches need urgent re-examining – the case for better control is clear

Despite what appears to be a gloomy picture – there is actually cause for celebration this World Asthma Day – because we are entering a new era in managing this respiratory condition – an illness that can and should be controlled. After 30 years of doing it one way - revised asthma treatment guidelines have been published and they bring new hope for better control:

• New GINA guidelines indicate that over reliance and excessive use of the SABA blue over-the-counter asthma pump is dangerous and can do more harm than help
• To establish control and better manage asthma - it’s important to understand the difference between anti-inflammatory maintenance therapy and symptom reliever blue SABA inhalers. They have different functions, BUT, using a blue reliever inhaler three or more times a week can mask the worsening of symptoms, increase the risk of asthma attacks and possibly lead to increased hospitalisations
• Break Over-Reliance - a global public service announcement / health campaign - has been initiated to alert asthma sufferers to this breaking news. Important information that can save lives – the campaign encourages consumers to take a free digital test to check if they are over-reliant on their SABA reliever inhaler (www.rateyourreliance.com)
• The results are immediate and the information can be shared with the patient’s medical practitioner so as to rework their asthma action plan and in so doing – establish better control
• For asthmatics the battle to breathe is real and these new treatment recommendations provide hope for better quality of life and health for those living with the respiratory condition

* GINA - The Global Initiative for Asthma

WORLD ASTHMA MONTH 2021 

CARING FOR CHILDREN WITH ASTHMA

Every child deserves to breathe easy

There are 50 million children under the age of 15 living with asthma in sub-Saharan Africa, most of them are reportedly in South Africa.1For parents or caregivers of these children managing the illness can be complicated and stressful. Added to that, new information suggests that asthma treatment needs urgent re-examining, leaving parents with questions about the dangers of being over reliant on reliever pumps.

Doctor Marlin McKay, a GP at the Goldman Medical Centre in Johannesburg explains, “When children are diagnosed with the respiratory disease, they are normally prescribed with two different types of inhalers, a maintenance inhaler and a symptom relieving inhaler. 2,3 Findings show that patients with asthma - not precluding children, will frequently underuse the maintenance inhaler which contains an anti-inflammatory therapy, and instead, over-rely on the symptom reliever inhaler. It is usually blue in colour and contains an item which opens up the airways known as short-acting beta2 agonists (SABA) therefore providing rapid and temporary relief for children. The problem with this approach is it can mask the worsening of symptoms and actually increases their risk of asthma attacks.”4-7

The good news for parents concerned that their children may indeed be overusing the blue pump, is that over-reliance can easily be established, thanks to a first-of-its-kind digital assessment tool. Developed by leading experts in behavioural medicine, the evidence-based questionnaire measures potential overuse of SABA reliever therapy for those who live with asthma.

Empowering parents

Dr McKay explains, “By answering five short questions the test result will empower parents to assess their children’s over-reliance on their SABA blue reliever inhaler 8. The online Reliever Reliance Test will help parents to quickly identify if their little ones are in fact over-reliant.

“All it takes is answering five questions and the test will measure potential overuse of SABA reliever therapy when compared to maintenance therapy. The results are immediate and if your child is found to be over-reliant then I implore you to revisit their asthma management together with your health care professional. By doing so, your child’s risk of increased asthma attacks will be reduced. Anxiety about your child’s wellbeing will better controlled too.”

Breathing easy should not be an accomplishment

While there is no cure for asthma, it is important to work with your child’s doctor to treat it and prevent damage to their developing lungs. Controlled asthma in children is possible but it requires a solid asthma treatment plan and regular check-ins with a professional explains Dr McKay.

Seeing your child wheezy is not easy

Asthma is the most common chronic illness in South African children and its prevalence is increasing in both urban and rural areas.9 “It is very important to know your child’s triggers, and it’s even more important to manage and control the condition to minimise the risk of an attack and in some cases hospitalisations.  This includes having, and following an asthma action plan, knowing what to do in the case of an attack, and taking maintenance medication as prescribed to avoid flare ups,” advises Dr McKay. 

Khomotso Mashilane, Medical Director: African Cluster, at AstraZeneca adds, “Given the recent updates to global asthma management recommendations backed by leading expert opinion, AstraZeneca developed the Break Over-Reliance public health campaign to inform and educate patients, health professionals and policy makers. It centres around the potential dangers of SABA over-reliance and the urgent need to address this issue. As an established leader in respiratory care, we are committed to working with the respiratory community to provide tools that will help improve asthma control. Our aim is to eliminate preventable asthma attacks for the millions of children and adults who live with the illness in South Africa.”

Making the case for well-controlled asthma, Dr McKay concludes by asking South Africans to share the details of the reliever reliance test far and wide. “We all have to do more to reduce the prevalence of asthma mortality in our country. With an estimated 18.5 deaths per every 100,000 asthma cases10, we shouldn’t save our breath – we should share the test with everyone we know and love who lives with asthma.”

For more information about the Break Over-Reliance campaign and to take the Reliever Reliance Test, visit http://bit.ly/Yes2Breathe

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References for Press Release 

1. https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3893990/(Sub-Saharan Africa has over 50 million children under the age of 15 living with asthma, mostly in South Africa.)
2. Global Initiative for Asthma. Global Strategy for Asthma Management and Prevention. 2020 Update. Available at: https://ginasthma.org/wp-content/uploads/2020/06/GINA-2020-report_20_06_04-1-wms.pdf Last accessed July 2020.
3. Burki TM. New asthma treatment recommendations. Lancet Respir Med 2019;7:479.
4. Rabe KF, Vermeire PA, Soriano JB, Maier WC. Clinical management of asthma in 1999: the asthma insights and reality in Europe (AIRE) study. Eur Respir J. 2000; 16: 802–807.
5. Tattersfield AE, Postma DS, Barnes PJ, et al. on behalf of the FACET International Study Group. Exacerbations of asthma: a descriptive study of 425 severe exacerbations. Am J Respir Crit Care Med. 1999; 160: 594–599.
6. Adams RJ, Fuhlbrigge A, Guilbert T, et al. Inadequate use of asthma medication in the United States: results of the asthma in America national population survey. J Allergy Clin Immunol. 2002; 110: 58–64.
7. Larsson, K., Kankaanranta, H., Janson, C. et al. Bringing asthma care into the twenty-first century. NPJ Prim. Care Respir. Med. 2020; 30, 25,
8. International Primary Care Respiratory Group. Blue Reliever Reliance Test. Available at: https://www.ipcrg.org/resources/search-resources/blue-reliever-reliance-test-english[Last accessed: July 2020]
9. http://www.globalasthmareport.org/management/southafrica.php(Asthma is the most common chronic illness in South African children and its prevalence is increasing in both urban and rural areas.)
10. Global Asthma Report: http://www.globalasthmareport.org/management/southafrica.php#:~:text=High%20mortality,%2C%20Figures%201%20and%202)

Notes to the Editor

Asthma

Asthma is a common chronic respiratory disease, and it affects the health and day-to-day lives of as many as 339 million adults and children worldwide.13 It is an inflammatory disease characterised by recurrent breathlessness and wheezing which varies over time, and which varies in severity and frequency from person to person.1

All asthma patients are at risk of severe attacks, regardless of their disease severity, adherence to treatment or level of control.14-16 There are an estimated 176 million asthma attacks globally per year;17 these attacks may be physically threatening and emotionally significant for many patients. 18 However, despite the fact that asthma is a chronic, variable inflammatory disease, patients often under-use their anti-inflammatory ‘preventer’ therapy and over-rely on their SABA reliever, which can mask symptom worsening.3-6 Taking a SABA inhaler alone does not address the underlying inflammation, leaving patients at risk of an asthma exacerbation. 3-6 and potential exposure to frequent bursts of oral corticosteroids.4,19

The Reliever Reliance Test

The Reliever Reliance Test (RRT) has been developed by leading expert in behavioural medicine, Professor Rob Horne, University College London (UCL), with colleagues from the International Primary Care Respiratory Group (IPCRG) and was fully funded by AstraZeneca UK Limited. The RRT is a five-item questionnaire adapted from the validated SABA Risk Questionnaire, which in turn is a derivation of the validated Beliefs about Medicines Questionnaire (BMQ), also developed by Professor Rob Horne, UCL. 20 The RRT is an evidence-based, practical tool that aims to assess patients’ reliance on their SABA inhaler.9 It is available in both print and digital format. Based on patients’ responses to the five questions, the RRT provides a score indicating whether the patient is likely to be at high, medium or low risk of over-relying on their SABA reliever.4 The score categories and associated feedback are aimed at helping patients understand their attitudes to SABA, and how these attitudes may be causing them to over-rely on their SABA.20 Patients are able to download their results via the digital tool and use them to discuss their asthma control with their HCP.

AstraZeneca in Respiratory & Immunology

Respiratory & Immunology is one of AstraZeneca’s three therapy areas and is a key growth driver for the Company.

Building on a 50-year heritage, AstraZeneca is an established leader in respiratory care across inhaled and biologic medicines. AstraZeneca aims to transform the treatment of asthma and chronic obstructive pulmonary disease (COPD) by eliminating preventable asthma attacks across all severities and removing COPD as a leading cause of death through earlier, biology-led treatment. The Company’s early respiratory research is focused on emerging science involving immune mechanisms, lung damage and abnormal cell repair processes in disease and neuronal dysfunction.

With common pathways and underlying disease drivers across respiratory and immunology, AstraZeneca is following the science from chronic lung diseases to immune-driven diseases. The Company’s growing presence in immunology is focused on five mid- to late-stage franchises with multi-disease potential in rheumatology (including systemic lupus erythematosus), dermatology, gastroenterology, and systemic eosinophilic-driven diseases. AstraZeneca’s ambition in immunology is to achieve disease control and ultimately clinical remission in targeted immune driven diseases.

AstraZeneca

AstraZeneca (South Africa) is a global, science-led biopharmaceutical company that focuses on the discovery, development and commercialisation of prescription medicines, primarily for the treatment of diseases in three therapy areas - Oncology, Cardiovascular, Renal and Metabolism, and Respiratory & Immunology. AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. For more information, please visit astrazeneca.co.za.

Contacts

Developed and to contact on behalf of AstraZeneca:
SIMONSAYS communications
Beverley Bradley | Melanie Stevens
072 272 5166 | 083 303 9667
This email address is being protected from spambots. You need JavaScript enabled to view it. | This email address is being protected from spambots. You need JavaScript enabled to view it.

References for notes to the editor:

1. Global Initiative for Asthma. Global Strategy for Asthma Management and Prevention. 2020 Update. Available at: https://ginasthma.org/wp-content/uploads/2020/06/GINA-2020-report_20_06_04-1-wms.pdf Last accessed July 2020.
2. Burki TM. New asthma treatment recommendations. Lancet Respir Med 2019;7:479.
3. Rabe KF, Vermeire PA, Soriano JB, Maier WC. Clinical management of asthma in 1999: the asthma insights and reality in Europe (AIRE) study. Eur Respir J. 2000; 16: 802–807.
4. Tattersfield AE, Postma DS, Barnes PJ, et al. on behalf of the FACET International Study Group. Exacerbations of asthma: a descriptive study of 425 severe exacerbations. Am J Respir Crit Care Med. 1999; 160: 594–599.
5. Adams RJ, Fuhlbrigge A, Guilbert T, et al. Inadequate use of asthma medication in the United States: results of the asthma in America national population survey. J Allergy Clin Immunol. 2002; 110: 58–64.
6. Larsson, K., Kankaanranta, H., Janson, C. et al. Bringing asthma care into the twenty-first century. NPJ Prim. Care Respir. Med. 2020; 30, 25,
7. Asthma UK: Asthma Attacks. Available at: https://www.asthma.org.uk/advice/asthma-attacks/Last accessed July 2020.
8. Asthma UK. Reducing prescribing errors in asthma care. Available at: https://www.asthma.org.uk/support-us/campaigns/publications/nrad-one-year-on/Last accessed July 2020.
9. International Primary Care Respiratory Group. Blue Reliever Reliance Test. Available at: https://www.ipcrg.org/resources/search-resources/blue-reliever-reliance-test-english[Last accessed: July 2020]
10. Price D, et al. Asthma control and management in 8,000 European patients: the Recognise Asthma and Link to Symptoms and Experience (REALISE) survey. NPJ Prim Care Respir Med. 2014; 24: 14009.
11. Pavord ID, Beasley R, Agusti A, et al. After asthma: redefining airways diseases. Lancet. 2017; 391: 350-400.
12. Global Asthma Report: http://www.globalasthmareport.org/management/southafrica.php#:~:text=High%20mortality,%2C%20Figures%201%20and%202)
13. Global Asthma Network. The Global Asthma Report 2018. [Online]. Available at: globalasthmanetwork.org/publications/Global_Asthma_Report_2018.pdf [Last accessed: July 2020]
14. Papi A, Ryan D, Soriano JB, et al. Relationship of Inhaled Corticosteroid Adherence to Asthma Exacerbations in Patients with Moderate-to-Severe Asthma. J Allergy Clin Immunol Pract 2018; 6: 1989-1998.e3.
15. Bloom CI, Nissen F, Douglas IJ, et al. Exacerbation risk and characterisation of the UK's asthma population from infants to old age. Thorax 2018; 73: 313–320.
16. Ding B, Small M. Disease burden of mild asthma: findings from a cross-sectional real-world survey. Adv Ther. 2017; 34: 1109–1127.
17. AstraZeneca Pharmaceuticals. Data on file. Annual Rate of Exacerbations Globally (February 2019; ID:SD-3010-ALL-0017).
18. Sastre J, Fabbri LM, Price D, et al. Insights, attitudes, and perceptions about asthma and its treatment: a multinational survey of patients from Europe and Canada. World Allergy Organ J. 2016; 9: 13.
19. Price DB, Trudo F, Voorham J, et al. Adverse outcomes from initiation of systemic corticosteroids for asthma: long-term observational study. J Asthma Allergy. 2018;11:193–204
20. Chan AHY, Katzer C, Kaplan A, et al. SABA Reliance Questionnaire (SRQ): a novel screening tool to identify patients’ beliefs underpinning over-reliance on short-acting beta2 agonists in the management of asthma. J Allergy Clin Immunol Pract. 2020; https://doi.org/10.1016/j.jaip.2020.07.014.

According to Statistics South Africa (StatsSA), small businesses have been growing steadily from generating 16% of total turnover in the formal business sector in 2013 to 22% in 2019. At the same time, the contribution of large business waned, from 75% to 68%. Says Michael Pretorius, founder and managing director of CT Floors: “This trend proves that entrepreneurs and small and medium enterprises (SMEs) form the backbone of authentic empowerment and economic inclusion in South Africa. 

Realising some 20 years ago the importance of encouraging all workers to improve their skills by on-the-job training, Pretorius says the obvious aspects to skills development and empowerment is more effective employees and better workmanship. “The real value, though, is in empowering employees to improve themselves for greater personal confidence and opportunities for promotion that bring vital financial benefits.” Of equal importance but often overlooked, says Pretorius, is succession planning. “Every successful, sustainable business must have a management team that asks the question, ‘Who will step into the shoes of someone who retires or leaves?’ 

CT Floors has always seen empowerment as incorporating hard-core training with specific objectives and results attached to it, and not just a box ticking exercise. It forms part of the company’s culture and provides the cornerstone for economic inclusion in its industry. 

Earn while you learn 

A widely acknowledge fact about the construction industry is its hefty reliance on unskilled or semi-skilled labour. In the absence of certified formal training for many of the functions an industrial or construction worker must perform, CT Floors has on-the-job training that covers building, installing, knowledge and safety with tools and other crafts a worker may need a good understanding of. “A new employee will be started in a position requiring the lowest skill,” says Pretorius. “All training from there will be hands-on in order for that person to watch everything his or her colleagues do, and to learn as fast as possible. “It is then up to that person to show the initiative and skill required to take them into the next levels. As he/she gains experience and demonstrates a willingness to take on more responsibilities, so they grow – in confidence and skill, with the ability to perform their new skills in any situation they may be required.” This obviously takes time, Pretorius notes, and follows the natural progression of this growth.

“The great spinoff of it is that the initiation of young inexperienced employees into the team is a milestone that brings pride and dignity.” It’s not just the physical installation part of CT Floors’ operation where empowerment is encouraged, however. “Selling high-performance floors requires technical knowledge about all aspects of the structure. There is no institution that teaches these specialised skills and it’s up to us as a company to gradually build up our employees’ knowledge about products and their best-fit applications.” 

Pretorius speaks fondly of a 19 year old who walked onto a site in 2006, asking for work. “I said he could assist me on a temporary basis. He learned quickly and by the end of the day he had made remarkable progress and I hired him. “Today, fifteen years later, he is still with us and in charge of operations. He’s taken every opportunity to upskill himself, and managed some of our largest and most prestigious projects like the 4000m2 Mercedes-Benz showroom installations in Rivonia and the Market Theatre in Johannesburg to name a few.” 

SMEs and up-skilling after Covid-19 losses 

The global pandemic brought with it lockdown and losses, with many closures in the SME sector. Among those who weathered the storm, says Pretorius, training up the unskilled and improving existing skills among workers is vital for economic recovery. “Employees must understand their value to the survival of any business, and management should work towards creating entrepreneurial mindsets within the company,” Pretorius asserts. 

“Individuals must be able to operate successfully in different environments; identify opportunities; learn from setbacks and rebuild better. Our company motto is: ‘You win and/or you learn, but you never lose’.” 

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About CT Industries/CT Floors: CT Floors has been in operation since 2002 supplying a wide variety of flooring solutions across various industries. The company offers industrial and commercial solutions from seamless resin flooring and industrial self-leveling screeds to decorative cement overlays and Terrazzo Floors. CT Industries is the holding company for CT Floors and CT Mining.

Contact: (011) 568 0333 || This email address is being protected from spambots. You need JavaScript enabled to view it. / www.ctindustries.co.za

The experience of living through COVID-19 has changed consumer behaviour, reshaping our wants and needs and reprioritising what’s important and what’s peripheral. Some of these behavioural changes are likely to endure after the pandemic ends and includes greater health awareness, digital adoption, value-driven purchasing, remote working and ‘nesting’ as homes take centre stage in our socially-distanced lives. 

These consumer behaviour trends have implications for the traditional as well as new risks faced in a very different world. Carl Moodley, Chief Underwriting & Claims Officer atGENRIC Insurance Company Limited, unpacked some of the key trends in personal risk driven by the pandemic experience and what this means for insurance and personal financial planning going forward.

“The consumer trends we are seeing have strong geographic dependencies and circumstances specific to South Africa’s social-economic environment will shape how these consumer behaviours play out and their domino effect on all aspects of daily living.  Although the pandemic and its associated responses have highlighted inequalities in South Africa, the long-term effects cannot be assumed at this point. However, the key trend of digital adoption in terms of work, learning, transacting and shopping is here to stay, so it is worth unpacking the knock-on effects and whether traditional risks have changed in terms of prevalence and intensity as a result,” explains Carl.

The pandemic has heightened the understanding of the need for risk protection, notably in the life and healthcare space. There is also a clear drive by consumers to avoid any ‘hard knocks’ of unexpected costs and uninsured losses, and this is seen in the attention being given to insurance policy renewals, but also in the uptake of niche risk solutions that deal with very specific risks.  

“There is a clear interdependency between risks and behaviours – as one behaviour changes, another risk area is also directly impacted. For example, as more employees work from home, their mobility risks may decrease, however their cyber and property risks increase due to less robust cyber security measures, especially on personal devices and infrastructure at home, and greater use of their home property for work functions. Similarly, health exposures other than COVID-19 increase. Concerns around job security and the work from home trend have weighed heavily on many people, with depression and mental health in the spotlight as people struggle with the uncertainty and isolation of the pandemic. The impact of the delay in regular health checks and elective surgeries due to fear of COVID infections also have implications for detecting serious health conditions early, such as cancer, and the subsequent cost of treatment at a more advanced stage, and overall prognosis,” explains Carl.  

GENRIC unpacks some of the key considerations of how risk and insurance needs are changing for South African consumers as a result of the pandemic:

• Increased digital adoption sees increase in cybercrime impacting individuals:As eCommerce and reliance on digital banking and transactional platforms grows, cyber or online risks have soared. South Africa now has the third-highest number of cybercrime victims worldwide with approximately R2.2 billion a year lost to cyber-attacks. ‘Card-not-present’ (CNP) fraud on South African-issued credit cards remains the leading contributor to gross fraud losses in the country, accounting for 79.5% of all losses, while the country has seen an increase of more than 100% in mobile banking application fraud, according to an Accenture report.¹  It’s one of the key reasons why personal cyber risk insuranceis now as important as home, vehicle and life insurance in one’s personal financial planning portfolio.
  
  
• Mobility patterns have changed– remote working and learning which is already becoming an established trend means people are driving their vehicles much less. Less time on the road also means much lower risk for accidents and theft. The integration of vehicle telematics will be increasingly important in insurance solutions that aim to reduce insurance premiums based on reduced mileage and better driving behaviour. You can expect so see a big shift to insurance solutions with a pay-as-you-go component as consumers drive a lot less and thus expect to pay less for their reduced risk.
  
  
• Changes in purchasing behaviour:a move to value-based purchasing has seen consumers increasingly look at cost versus benefit in much sharper detail. With household budgets under tremendous constraints, consumers are looking at ways to mitigate against financial distress due to unexpected large costs. This is one of the drivers behind the high policy retention rate and new take-up of Mechanical Warranty insurance that GENRIC has seen over the last 12 months.  Sales statistics show that new vehicle sales have plummeted while used-vehicle sales are way up, driven by affordability. It also means that for used vehicles that fall outside of the manufacturer warranty period, a mechanical warranty insurance solution provides essential protection against any major parts failures or breakdowns down the line. For a low premium from around R150 per month, a major mechanical breakdown such as an engine, cambelt or turbocharger failure – which can easily top R20k or more in costs – will be taken care of and you’re buffered from these large and unplanned expenses. Another important development in the motor space is a recent ruling by the Competition Commission, effective 1 July 2021, which means motorists may service their vehicle at any independent service provider and are not restricted to the original dealerships, without any risk of the factory warranty being voided. It’s good news for motorists who now have greater choice in terms of the costs to maintain their vehicles and paves the way for more competitive ‘service plan’ insurance solutions, independent of the original car manufacturer.
  
  
• Healthcare is top of mind – the pandemic has amplified the need for healthcare insurance as consumers realise the implications of a health crisis on finances, especially where one has co-morbidities. GENRIC has seen significant pick-up in enquiries related to health insurance such as its Siragogap cover, as well as affordable alternatives to medical scheme benefits such as its Wesmarthealth insurance solution.  Where consumers are buying down on their existing medical scheme benefits due to financial distress, they are taking up gap cover insurance to protect them against potential medical scheme financial shortfalls on specialist and in-hospital treatment. The steep uptake in gap cover is not unwarranted as recent mega claims paid by Sirago show massive shortfalls between R40 000 to R160 000 not covered by the medical scheme – without gap cover, the consumer would have to pay for this from their own pocket.  The pandemic has motivated people to reconsider not only their health insurance covers, but also the likes of critical illness and life cover.
  
  
• Interpersonal behaviour has changed: While relationships and marriages have taken strain during the various lockdown levels and increased time spent at home, other relationships have thrived. People have spent more time with their pets than ever before, and pet adoptions have gone up too.  This has driven new demand for Pet Insurance- pet owners want the reassurance that if things do go wrong and their pet gets sick or injured, they’ll never have to decide between their finances and Fido’s health and wellbeing.
  
  
• Crime has and will continue to increase: The increase in crime is of significant concern, notably of car and truck hijackings that have increased by 6% and 32% respectively in Gauteng, according to SAPS crime statistics released at the beginning of March. As the economy falters, and more people find themselves unemployed and desperate, crime rate is likely to increase. Taking extra safety and security measures at home and on the road are essential mitigating measures, as is checking that insurance covers are in place for all potential scenarios.  Insurance solutions that add extra layers of protection and private response to emergency situations are increasingly in demand. As one example, GENRIC’s SafeHomesinsurance solution provides for an emergency panic button which dials up the closest, contracted security provider when activated, sending location details based on your phone’s position. The call can also be routed to receive emergency medical attention as part of the solution offering. In South Africa where road accidents and crime are a daily occurrence and where public emergency services have proven unreliable and under-resourced, it is also not hard to see why demand for emergency medical assistance and evacuation insurance like the Evac24 solutionhas increased.
  
  
• Nesting and Home Improvements have soared: Home improvements and building extensions went into overdrive in the last months as people had more time at home to attend to maintenance and upgrades; working from home triggered a need for home workspaces, especially given that for many the home working trend is likely to become a permanent fixture and security and safety measures were upgraded. Consumers are spending on renovations, DIY projects, gardening and luxury goods to compensate for unrealised holidays and other out-of-home experiences. Other areas of investment include solar PV solutions for homes as load shedding and spiralling electricity costs push more consumers to grid autonomy.  These renovations and additions add significantly to the value of your building and contents and need to be accounted for in the sums insured on your insurance policy.  The tech underpinning a SafeHomesinsurance policy provides access to a property valuation with immediate assessment of a property value using spatial and geo-technologies and mapping this back to deed’s office information regarding property values in the area. It’s essential that these ‘lockdown’ upgrades are correctly insured to avoid the risks of under-insurance in the event of a catastrophic loss.
  
  
• Political uncertainty and social unrest is increasing: Given the growing poverty, unemployment and social unrest which has been amplified by the lockdown, service delivery protests and riots are likely to increase in coming months, leaving property and assets vulnerable to losses that are not covered by traditional insurers.Sasria, which provides insurance cover for losses caused by riots and political upheaval, is a specialised cover which policyholders of personal and business insurance need to ensure they have. 

“Risk and insurance has changed over the years, but more radically so as a result of the pandemic where there is now a far greater appreciation of just how unpredictable and far-reaching risk can be.  It is crucial to understand your evolving risks and how to make the risk solutions available work for your changed circumstances. There are many new insurance products and technologies available that allow you to become a lot more granular in your approach to risk and get the absolute certainty that you’re covered for specific and unique events.  As these risks become more complex and interrelated, the guidance and advice of a professional broker will prove invaluable in structuring an insurance and risk management strategy that’s fit for your changed circumstances,” concludes Carl.  

For more information go to www.genric.co.za.

GENRIC Insurance Company Limited(FSP 43638) is an authorised Financial Services Provider and licensed non-life Insurer.

References:

1. Accenture – Insight into the cyber threat landscape in South Africa, published May 2020, available from https://www.accenture.com/za-en/insights/security/cyberthreat-south-africa

The world certainly looks very different a year later, and nowhere is it more apparent than in the Small, Medium and Micro Enterprises (SMME) space. The sector has faced more than its fair share of obstacles during the COVID-19 pandemic amidst a contracting economy and lockdown measures that reduced income streams to a trickle.

The SMME sector is critical to South Africa’s economic growth, employing around 80% of the African continent’s workforce. It is also the sector that has been hardest hit by the pandemic and the subsequent lockdowns, making it crucial for SMMEs to identify the trends impacting their businesses and finding ways to leverage new opportunities.

Aon South Africa, risk advisors and insurance brokers, delves into the top five trends affecting the SMME sector:

1. Changing Consumer Buyer Behaviour

The key factor in demographics is not just how the world’s population will grow, but how consumer buyer behaviour is changing amidst an upended world. Failure to innovate and meet customer needs was one of the top ten risks, rated at number nine in Aon’s 2019 Global Risk Management survey. The pandemic shifted the importance of this risk into top gear. Many companies had to scramble to reimagine their product delivery and consumer purchasing journey in a pronounced shift into a digital world that is likely to remain long after COVID-19 has abated. In fact, 86% of respondents in a PWC Global Consumer Insights Survey 2020, said they are likely to continue to shop online when social distancing measures are removed.

According to Clayton Ellary, from Aon South Africa’s Commercial Risk Solutions Division, innovation is a necessity, not an option.  “It also means that disruptive technologies, such as artificial intelligence, blockchain or the Internet of Things may be the key to transforming the current playing field. Start-up companies tend to be more agile in their efforts to meet the changing needs of consumers. The fine line between success and failure is defined by an organisation’s ability to reinvent itself in an ever-changing market where disruption is fast becoming the norm.”

2. Technological Reliance

As companies become more reliant on technology, technological developments and increases in data and analytical power create unlimited opportunities for business; But also bring risks around cyber security and data privacy.

Cyberattacks on South African organisations show no signs of abating. “Whether a large or small business, a cyber breach has the potential to inflict enormous reputational damage, cause major interruption to normal business operations and income potential, and can also have legal ramifications if personal and financial information is compromised in context of the Consumer Protection Act (CPA), the Electronic Communications and Transactions Act (ECT) and the Protection of Personal Information Act (POPI),” says Clayton. 

“South Africa will continue to see large-scale ransomware attacks that target administration credentials to gain access to and infect, wider networks – often targeting SMMEs and contractors to gain access to larger client corporations. With the expected increase in ransomware attacks designed to spread through a network, organisations of all sizes and industry sectors need to take steps to protect their networks and ensure that their risk management and insurance programmes are fit for purpose to protect them in a worst-case scenario,” urges Clayton.   

3. The Rise of Intellectual Property

A misalignment on the value of data, information and intangible assets, such as IP of a business could have dire consequences. “We currently find ourselves in a business environment where a huge shift is taking place from tangible to intangible assets, making it crucial for companies to identify what its value-producing assets are and to re-evaluate its risk and liability in this space,” says Clayton.

4. The Resilient Workforce

In a world of work that has been largely affected by the COVID-19 crisis, ensuring that your people strategy enables employees to adapt to change, maintain motivation and face adversity now and in the future is imperative to business success. Wellbeing is critical, the difference between a business surviving and thriving, especially to SMMEs where the skillsets of its people are so intrinsically linked to the success of the business.

According to Aon’s Rising Resilient report, businesses will need to recognise the impact the pandemic has had on their employees’ physical, emotional and financial wellbeing. For employers that get wellbeing right, the effort can help their teams perform more effectively and productively, and foster resilience — bringing adaptability to change, sense of belonging and ability to reach one’s full potential. 

“Recognising the pandemic’s various impacts on employees and helping address them should be part of any overall strategy for guiding an SMME through, and beyond the crisis,” says Clayton.

5. Liquidity

The COVID-19 pandemic has been a major catalyst to a host of serious business challenges that led to greater levels of insecurity and business failures. SMMEs face greater risks, possibly even closure, if a major debtor defaults as their balance sheets are often not strong enough to pull them through a major and extended financial crisis.

The question that trade credit insurance answers is whether you are dealing with a potential bad debtor, which is crucial in a financially strained environment. “SMME’s would be foolhardy not to have payment protection in place, given the tough trading conditions we find ourselves in at present,” says Clayton.

The key premise of credit insurance is to protect your debtor’s book, and in turn ensure that cash flow remains in the case of a bad debt.  It also allows management to get a deeper understanding of their debtors’ book due to the extensive credit vetting done by the insurer. 

Understanding the Trends to Make the Right Decisions

The trends that will reshape the world — and business — should inform the decisions SMEs are making today about their future. “It is a task best undertaken with the assistance of an expert broker by your side. A comprehensive risk assessment will establish how prominently new trends feature in your business, so that you can make informed decisions that will guide your business strategy beyond the pandemic,” concludes Clayton.

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About Aon

Aon plc(NYSE: AON) is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance.

• Visit www.aon.co.zafor more information.
• Follow Aon South Africa on Twitter, Facebookand LinkedIn.
• Find our latest articles in our Newsroom.
• Hear from Aon’s expert advisors in The One Brief.

Over the past few decades, technology has progressed to the point where almost every device or piece of machinery requires a power source. Some of these applications use grid-power, while others use stored power solutions, such as batteries.

To keep up with technological progression, battery manufacturers have been exploring new ways of storing power. Lithium-ion is leading the way in terms of providing seamless power with minimal maintenance.

An energy dense mineral with endless possibilities

Lithium energy is a mineral that, when combined with other energy dense chemicals, becomes an effective alternative to lead-acid batteries. In the simplest of terms, a lithium-ion battery contains a negative electrode (anode) and a positive electrode (cathode) that transfers lithium between the two materials. This effectively creates a power source that is long-lasting and immediate.

Benefits for industry

Many industry giants are often on the lookout for new tools and technology to enhance operations and give them the edge over competitors. However, doing so requires substantial research and development, along with intense testing to ensure they receive a welcome return on investments. This is where the benefits of lithium-ion come to the fore. Some of these benefits include, 

• A longer lifespan, providing additional years of operational use
• Higher performance due to a high energy density
• Greater efficiency because they charge up to 30% faster than lead-acid batteries
• Minimal maintenance as lithium-ion does not include battery watering and other battery maintenance
• Sustainable as they reduce the reliance on non-renewable energy resources.

Despite the many benefits, there is one drawback to lithium-ion batteries – namely, the cost of production when compared to producing lead-acid batteries.

The light at the end of the tunnel

“We need to not only be battery manufacturers and sellers, but also solution providers that meet the needs of our customers”, said Murray Long, Managing Director of First National Battery. What this proves is that South Africa’s trusted battery manufacturer is committed to meeting the demands of its consumers, including staying relevant by adopting new technology and leading the way in power storage solutions.

For more information on how First National Battery can upgrade your facilities with lithium-ion, visit www.battery.co.za.

References:

1. https://www.fluxpower.com/lithium-ion-battery-technology
2. https://www.tennantco.com/en_us/resource-center/white-papers/lithium-ion-battery-technology.html
3. New dawn for First National Battery as we take advantage of the allure of Lithium-ion technology – Written by Olwethu Ngwanya (R&D Engineer)

ISSUED ON BEHALF OF FIRST NATIONAL BATTERY BY G&G DIGITAL. 

First National Battery is South Africa's leading battery manufacturer for industries and applications ranging from automotive (including industrial, commercial and passenger vehicles), mining, railway and renewable energy to surface traction, telecommunications and standby battery solutions. Their vehicle battery solutions are trusted by all leading car manufacturers in South Africa. They produce more than 2.2 million batteries each year and export their leading solutions to more than 40 countries.  

FOR MORE INFORMATION VISIT battery.co.zaor CONTACT ANNIE HODES ON 083 325 4445 OR This email address is being protected from spambots. You need JavaScript enabled to view it.This email address is being protected from spambots. You need JavaScript enabled to view it.. 

The Pandemic’s effect on the TMT Sector

Aon’s global COVID-19 Risk Management and Insurance Survey, conducted at the end of 2020, found interesting insights into the Technology, Media and Telecom (TMT) sector’s response to the pandemic. Half of survey respondents in this industry were from North America and EMEA (Europe, Middle-East and Africa).

• Eighty percent of respondents in the TMT industry did not consider pandemic a key risk, and just 30% had a pandemic plan in place prior to COVID-19. This is in line with the overall industry benchmark.
• More than half (53%) of respondents agreed that their business was resilient, and 13% stated their business had thrived because of the pandemic — higher than the overall industry benchmark (6%).
• Forty percent of respondents expect COVID-19 to impact their business for a period of less than a year, and 44% for a period between one and two years.
• Sixty-six percent of respondents experienced supply chain issues, and 34% reported demand issues due to a drop in consumer demand.

Four overarching trends were identified as focal points to the TMT sector as it continues to respond, recover and reshape its business models amidst the ongoing pandemic:

Supply Chain

The TMT industry has a complex and sophisticated set of interdependencies in its supply chain, from security to manufacturing to technology research and development (R&D). It created demand- and supply-led challenges during the pandemic that explains why respondents from this industry expressed an increased desire to review the supply chain.

“A disruption via the supply chain has a domino effect on any business, ranging from technological failures through to business interruption, and can even affect a company’s data privacy. Smaller companies within a supply chain may not have capital backing, making them more susceptible to failure, which in turn creates counterparty risk. Thosewho had only considered the lower range costs of these risks, were nowhere near ready for the ‘black swan’ exposures that the pandemic presented,” says Zamani Ngidi, Client Manager: Cyber Solutions at Aon South Africa.

Assessing counterparty risk and supply chain vulnerability is bound to be a focal point for the TMT sector in its recovery phase.

Intangible Assets

A misalignment on the value of data, information and intangible assets, such as IP, of a business could have dire consequences. “We currently find ourselves in a business environment where a huge shift is taking place from tangible to intangible assets, making it crucial for companies to re-evaluate its risk asset classes and liability in this space,” says Zamani.

The TMT sector continues to see a considerable level of M&A activity, which is not surprising, given previous economic crises that demonstrated the ability of companies in this industry to attract capital. In fact, it indicates that the monetisation of intangible assets is becoming increasingly relevant to balance sheet performance.

Business model disruption

Respondents in the TMT industry ranked business model disruption as its most significant future shock.

Technology disruption has been pushed to the forefront with increased reliance on technology resulting from the pandemic. Not only does this present a challenge to an organisations’ own operations but it poses new and greater risks as their customers become more reliant on technology. Technology failure or disruption, which could arise from the aggregated exposure from cloud-based technology, could impact across many key risks.

“Technology really is the piece that holds together the entire puzzle going forward and protecting that environment in the new threat landscape is more fundamental than ever before. The fact that 13% of respondents in the TMT industry thrived during the pandemic confirms that technology and digitalisation is a primary player in the field, and it is also capital intensive. Supporting that shift with a robust cybersecurity and cyber risk management programme, is imperative; especially in light of the ongoing ‘working from home’ landscape in which cybercrime flourishes. Employees need to be better trained and informed, while companies need to safeguard their IT security practices in order to ensure business sustainability,” says Zamani.

Revisiting Business Strategy

Respondents in the TMT industry ranked ‘revisiting business strategy’ as a higher priority than most others did. Dynamic and fast-paced change is part and parcel to the industry, which is strongly linked to new product development and capital investment planning. Established telecom businesses face significant risk from competitor activity, especially from businesses that were ‘born digital’. Newer companies often do not have legacy costs that longstanding businesses are faced with, allowing them to be much more agile.

“Business leaders have been confronted with a number of decisions as they steer their workforces, operating models, customers, portfolios and finances through massive uncertainty. Some of the changes they’ve made are likely to last — and some are poised to completely reshape parts of their business,” he adds.

The way forward

82% of respondents to the survey said a pandemic or other major health crisis was not a top 10 risk on their organisation’s risk register, prior to COVID-19. “In the boxing world there is a saying that says, ‘it’s the punch you don’t see coming, that hits the hardest’, and that is exactly the situation that many companies found themselves in,” says Zamani.

“The fundamental value of risk management comes to the fore when the contingencies in place are able to alleviate both the known business risks as well as any possible unforeseen circumstances. Identifying the gap and understanding the future shocks and risks associated with these types of losses is where the true value of dealing with an expert broker comes into play. Making sure that you have all your bases covered, means that there are less surprises when the unthinkable happens and you have a roadmap to get you through it,” concludes Zamani.

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About Aon

Aon plc(NYSE: AON) is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance.

• Visit www.aon.co.za for more information.
• Follow Aon South Africa on Twitter, Facebookand LinkedIn.
• Find our latest articles in our Newsroom.
• Hear from Aon’s expert advisors in The One Brief.

Since March 2020, the world has become an entirely different place.  We have radically changed the way we work, socialise, shop, transact and live.  Many of the consumer trends that were radically fast tracked as a result of the pandemic - notably digitisation - will be permanent fixtures. One of the industries that will be significantly impacted by this changing consumer dynamic is the short-term insurance sector. 

Carl Moodley - Chief Underwriting & Claims Officer; Stuart Forbes - Chief Risk and Compliance Officer and Eugene Olivier – Chief Information Officerat GENRIC Insurance Company, provided their insights on what they believe the key shapeshifting consumer trends will be in 2021 and beyond the pandemic that will see major shifts in insurance product and delivery innovation…

#1:  Customer Centricity will be the kingmaker

Every aspect of the insurance journey must be designed with the customer in mind, from understanding their unique risk exposure and risk behaviour, the advice process, insurance distribution, claims management and ongoing policy administration. We are already seeing major drives into the integration of IoT, spatial mapping technology, sensor technology, telematics, advanced analytics and AI in the short-term insurance spaceto deliver more granular, individual risk profiles and behavioural-based insurance solutions and underwriting. In so far as digitisation of insurance processes is concerned, online journeys must be designed with the total customer experience in mind. Insurers and brokers will need to understand the inherent ‘customer experience’ gaps that exist between online and offline customer journeys, and where experience gaps exist in a tactile engagement that may actually fall away in an online journey. 

#2: Consumer are more cost and value conscious than ever before

Consumers are scrutinising every aspect of their discretionary spending and insurance is top of the list.  Overly complex product designs and loyalty programmes that consumers inevitably end up paying for will be moot even beyond the pandemic crisis. Consumers will analyse the underlying value for money in every policy and risk programme, and additionally look for the added value in their insurance spend that saves them money, makes their life easier through personalisation and effectively transfers their risk without quibble come claims time. Insurers and brokers will need to invest in sophisticated data and analytics to ensure that both individual and commercial policy holders receive the individualised and appropriate response and risk ratings for their circumstances.  We can also expect to see more demand for and development of ‘usage-based’ insurance which provides customers with the ability to switch cover on and off at specific times for when they need it – this has been most prevalent in the motor insurance segment where the work-from-home trend has seen significantly curtailed travel needs, and hence left consumers questioning the cost of their cover given the reduced risk.

#3: Customers are better informed than before, which makes professional advice key

While a recent customer satisfaction index on the short-term insurance sector, conducted by Consulta, showed that intermediated insurance customers have higher levels of satisfaction, it does not mean that the advice and distribution process is not ripe for disruption.  While insurance customers do want a more personalised experience and rely on the knowledge and market understanding of their brokers, they are also looking for more digital resources to be brought to the table that facilitate a greater level of self-sufficiency on an ongoing basis. They are actively researching the ins and outs of the insurance solutions on offer and are more empowered than before to make decisions. The insurance broker’s role will shift to one of guiding and facilitating a greater analysis of insurance solutions that fit their needs, on much higher levels of engagement than before.

#4:  Keep it smart and simple

It is interesting to note in a recent study - Customer Service Trends for 2021 – by Stella Connect – that whileconsumers may understand that these are trying times, it has not offered brands much relief in terms of customer expectations. The survey shows that 67% of polled consumers report having the same or less patience for a bad customer service experience since COVID-19 began. Complex systems and processes will simply see customers say goodbye a lot faster than before, so the importance of stress testing all platforms, systems and processes, and all the ‘experience moments’ along the way, cannot be emphasised enough. Ongoing refinement will be key and here sophisticated data and analytics and AI will be invaluable in identifying trends in CX that need addressing or further leveraging. 

It is also critical to note that while offering multichannel, AI-driven client self-service platforms is essential in providing scale and resolving simple queries to reduce volumes, they are not a replacement for the human touch. Brokers will continue to play a crucial role and interface with their policyholders, especially on more complex claims and queries, and here first-time resolution will be key.  AI and data analytics can help meet customer needs faster and more intuitively than ever before, while freeing up brokers to focus on more complex customer needs.

#5: Consumers are looking for niche solutions for specific exposures 

GENRIC’s own experience in the last ten months is that consumers are increasingly looking for niche insurance solutions to address very specific needs and unexpected cost exposures.  One such line is Mechanical Warranty insurance where policy retention and new uptake has remained high despite the tough economic environment. With an increasing number of older vehicles on the road, consumers delaying new car purchases as they consolidate their debt and also travel less with new remote working trends, this type of cover makes sense to protect policy holders against the unexpected and typically high financial cost of mechanical component failures no longer covered under service and manufacturer warranty plans. 

Personal cyber insurance is another growing area given our reliance on internet connectivity for virtually every aspect of our lives. We can expect to see protection for cyber risks becoming an essential personal financial planning tool in much the same way as household, motor and contents insurance is for physical risks. Niche insurance solutions that cater for specific risks and exposures are expected to grow as consumers increasingly look to only keep that which they need and which performs at claims time.           

#6:  The pandemic has thrust healthcare insurance in the spotlight – the pandemic has amplified the need for healthcare insurance as consumers realise the implications of a health crisis on finances. For many South Africans, the parlous state of public healthcare facilities is unpalatable, so securing their continued access to private healthcare is a priority.  GENRIC has seen significant pick-up in enquiries related to its Sirago gap cover, as well as affordable alternatives to medical scheme benefits such as its Wesmart health insurance solutions.  Where consumers are buying down on their existing medical scheme benefits due to financial distress, they are taking up gap cover insurance to protect them against potential medical scheme financial shortfalls. The pandemic will motivate people to reconsider not only their health insurance covers, but also the likes of critical illness, life and income protection cover.

#7:  Trust needs to be rebuilt

A big issue that has impacted the entire insurance sector is that of the fallout of business interruption claims during the pandemic. While these were limited to certain insurers and impacted commercial policyholders only, the highly publicised and sensitive nature of these claims has spilled over to all consumers.  There is significant work to be done to restore the reputational damage in terms of the expectations of clients versus what is covered in terms of their insurance contracts and policy wordings. Much of this comes back to the principle of smart and simple cover and removing overly complex layers, with clear policy wordings and well-defined terms and conditions. 

In as much as the last year has been tremendously challenging and will continue to be so for at least the medium term, there are also tremendous opportunities that exist with the pandemic’s fast tracking of virtually every industry into the 4th industrial revolution. The insurance and risk landscape is no different.  Risks and needs are evolving, and change brings inherent opportunity.  Insurers should look to add true client-centric value in a digitally differentiated world by building more resilient business models, developing new lines of coverage to meet evolving exposures in the market, and embracing the opportunities presented by technological disruption.

For more information go to www.genric.co.za

Over-reliance on reliever pumps linked to increased risk of asthma attacks

Recent updated global recommendations have overturned decades of asthma care and represent the most significant change in asthma management in over 30 years. This is according to the Global Initiative for Asthma (GINA).

For decades, treatment of asthma has involved two different types of inhalers explains Johannesburg-based GP, Doctor Marlin McKay who practices at the Goldman Medical Centre: “Many asthmatic patients use a maintenance inhaler which contains an anti-inflammatory medicine; they also use a symptom reliever inhaler which is blue in colour and contains an item which opens up the airways also known as short-acting beta2 agonists (SABA). 1,2 Asthma patients frequently underuse anti-inflammatory maintenance therapy and instead, over-rely on SABA reliever therapy which provides rapid and temporary relief. The problem with this approach is it can mask the worsening of symptoms and actually increases the risk of asthma attacks.”3-6

The link between SABA blue reliever inhalers over-reliance and an increased risk of asthma attacks has led to updated recommendations from GINA. These recommendations are provided for people using these specific inhalers and advising them to avoid establishing a pattern of reliance on SABA early in the disease.1

GINA no longer recommends SABA blue reliever inhalers alone as the preferred reliever therapy, and instead recommends the use of a low dose inhaled corticosteroid (ICS)-formoterol therapy as needed as the preferred reliever therapy across all asthma severities.1

This Combination inhaler contains Anti-Inflammatory agent which reduces inflammation in the airways which associated with asthma. To inform asthma patients about the new GINA recommendations a public health campaign has been launched by AstraZeneca globally in partnership with the Global Allergy and Airways Patient Platform (GAAPP) and locally with the National Asthma Education Programme (NAEP©) and Independent Community Pharmacy Association (ICPA). The Break Over-Reliance campaign aims to help people with asthma reduce their risk of asthma attacks. It highlights that just three or more puffs of the blue inhaler per week increases a patient’s risk of asthma attacks. 1-3,7,8

To help asthma patients assess their levels of over-reliance the campaign offers a first-of-its-kind digital assessment tool. Known as the Reliever Reliance Test. This evidence-based questionnaire will empower patients to assess their over-reliance on their blue reliever inhaler, SABA9, by answering five short questions.

Dr Mckay affirms that “many patients feel dependant on their SABA blue inhaler, mistakenly believing this to be the best way to control their symptoms. Having said that, it’s important to understand firstly what over-reliance looks like, and this is where the test comes in. I strongly urge that everyone living with asthma should take the test – it’s easy to navigate and will help them understand whether they are relying too heavily on their SABA. If the results indicate over-reliance, then that information can facilitate conversations with their health care professional around their asthma management.

“Recognising that the use of SABA blue inhalers to control asthma symptoms actually increases the risk of asthma attacks1,10,11 – action to correct asthmatic compliance has never been more important. When you consider that South Africa’s prevalence of asthma is among the highest in the world and we are ranked fifth for asthma mortality12, the case for better control is clear.

Khomotso Mashilane, Medical Director: African Cluster, at AstraZeneca adds, “Evidence suggests that healthcare systems are hard-wired to facilitate habitual SABA overuse and over-reliance. Given the recent updates to global asthma management recommendations backed by leading expert opinion, AstraZeneca developed the Break Over-Reliance public health campaign to inform and educate patients, health professionals and policy makers. It centres around the potential dangers of SABA over-reliance and the urgent need to address this issue. As an established leader in respiratory care, we are committed to working with the respiratory community to provide tools that will help improve asthma control and aim to eliminate preventable asthma attacks for the millions of asthma patients in South Africa.”

For more information about the Break Over-Reliance campaign and to take the Reliever Reliance Test, visit www.yes2breathe.co.za or visit our social pages: https://www.facebook.com/yes2breathe and https://www.instagram.com/yes2breathe/

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Notes to the Editor

Asthma
Asthma is a common chronic respiratory disease, and it affects the health and day-to-day lives of as many as 339 million adults and children worldwide.13 It is an inflammatory disease characterised by recurrent breathlessness and wheezing which varies over time, and which varies in severity and frequency from person to person.1

All asthma patients are at risk of severe attacks, regardless of their disease severity, adherence to treatment or level of control.14-16 There are an estimated 176 million asthma attacks globally per year;17 these attacks may be physically threatening and emotionally significant for many patients. 18 However, despite the fact that asthma is a chronic, variable inflammatory disease, patients often under-use their anti-inflammatory ‘preventer’ therapy and over-rely on their SABA reliever, which can mask symptom worsening.3-6 Taking a SABA inhaler alone does not address the underlying inflammation, leaving patients at risk of an asthma exacerbation. 3-6 and potential exposure to frequent bursts of oral corticosteroids.4,19

The Reliever Reliance Test
The Reliever Reliance Test (RRT) has been developed by leading expert in behavioural medicine, Professor Rob Horne, University College London (UCL), with colleagues from the International Primary Care Respiratory Group (IPCRG) and was fully funded by AstraZeneca UK Limited. The RRT is a five-item questionnaire adapted from the validated SABA Risk Questionnaire, which in turn is a derivation of the validated Beliefs about Medicines Questionnaire (BMQ), also developed by Professor Rob Horne, UCL. 20 The RRT is an evidence-based, practical tool that aims to assess patients’ reliance on their SABA inhaler.9 It is available in both print and digital format. Based on patients’ responses to the five questions, the RRT provides a score indicating whether the patient is likely to be at high, medium or low risk of over-relying on their SABA reliever.4 The score categories and associated feedback are aimed at helping patients understand their attitudes to SABA, and how these attitudes may be causing them to over-rely on their SABA.20 Patients are able to download their results via the digital tool and use them to discuss their asthma control with their HCP.

AstraZeneca in Respiratory & Immunology
Respiratory & Immunology is one of AstraZeneca’s three therapy areas and is a key growth driver for the Company.

Building on a 50-year heritage, AstraZeneca is an established leader in respiratory care across inhaled and biologic medicines. AstraZeneca aims to transform the treatment of asthma and chronic obstructive pulmonary disease (COPD) by eliminating preventable asthma attacks across all severities and removing COPD as a leading cause of death through earlier, biology-led treatment. The Company’s early respiratory research is focused on emerging science involving immune mechanisms, lung damage and abnormal cell repair processes in disease and neuronal dysfunction.

With common pathways and underlying disease drivers across respiratory and immunology, AstraZeneca is following the science from chronic lung diseases to immune-driven diseases. The Company’s growing presence in immunology is focused on five mid- to late-stage franchises with multi-disease potential in rheumatology (including systemic lupus erythematosus), dermatology, gastroenterology and systemic eosinophilic-driven diseases. AstraZeneca’s ambition in immunology is to achieve disease control and ultimately clinical remission in targeted immune driven diseases.

AstraZeneca
AstraZeneca (South Africa) is a global, science-led biopharmaceutical company that focuses on the discovery, development and commercialisation of prescription medicines, primarily for the treatment of diseases in three therapy areas - Oncology, Cardiovascular, Renal and Metabolism, and Respiratory & Immunology. AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. For more information, please visit astrazeneca.co.za.

At no time in our history have we ever been this reliant on internet connectivity to work, learn, play, connect and communicate.  The Covid-19 lockdown has amplified our digital reliance in unimaginable ways.  Giving your family the gift of fibre connectivity is a massive advantage in terms of the educational progress and ability to keep pace with the new remote learning realities, as well as access some of the incredible educational and recreational content that it holds.  Your fibre internet connection is likely to be one of the best investments you can make in helping your family navigate their online journey.   Make it your 2021 new year resolution to get the most out of your fibre internet connection and all that it has to offer.

Top MetroFibre resolutions for 2021:

• Save money on your data and connectivity costs- Get serious about canning expensive data subscriptions and get a lot more bang for your buck with your ‘connected’ home.  With fast, uncapped and reliable fibre connectivity, accessing these services now comes at a fraction of the eye-watering costs of mobile data, LTE and other wireless broadband connections. 
• Online Shopping – COVID-19has rocketed online shopping into the limelight, and for many of us its likely to remain a preferred shopping channel.Beat the queues and wasted time spentinstore- shop online, save time and avoid those tempting impulse buys. Save time, money, petrol and only purchase what you really need - and who doesn’t love the convenience of having it all delivered to your door?   
• Learn something new – before you clock out thinking that online learning is only for the academically-inclined, check out the mind-blowing array of mind-stretching and very affordable educational experiences – from learning to play a new musical instruments, photography and design courses, to cooking and baking up a storm of the latest foodie trends, to fitness and health, meditation, travel, DIY, gaming, through to specific industry trades, academics and teaching content.  The internet is the most extensive library of learning materials and it’s all available to you courtesy of a high-speed, reliable internet connection.
• Music Streaming – no one still forks out for archaic CDs and DVDs that take up space, scratch and deteriorate over time.Music streaming is the ultimate spoil - think Spotify, Joox, iTunes, Youtube Musicand Google Play Music -

• Video and audio on Demand – With fibre internet, the world of entertainment is your oyster.  You can subscribe to multiple streaming services for music, video and entertainment at an absolute fraction of the subscription cost of a typical satellite pay TV subscription - thinkNetflix, Showtime, Showmaxand Classic Cinema Onlineto YouTube, Amazon Prime Videoand so much more.  Watch what you want, listen to what you want, when you want, or download content to watch later.   
• Wi-fi-calling, Facetime and Video-calling:  Make video or audio calls over your fibre wi-fi connection via Whatsapp, Skype, Facetime (Apple devices) and save on expensive telephony and mobile network costs.  Online family meetings via Zoom are a breeze! Remember to set your mobile phone up to automatically switch to your Wi-fi network at home and save a packet by keeping your (more expensive) mobile data for when you’re not in Wi-fi range.        

• Safety and Security at home – With uncapped fibre internet, you can connect safety and security devices such as your alarm system and CCTV cameras to the web, allowing you to remotely log in and access these devices – you can check in on your cameras and see what’s is going on at home or the office.  You can even arm and disarm your alarm remotely.  If your vehicle tracking provider offers a portal log in, you can use your internet connection to log in and check where your loved ones are travelling and that they are safe and sound.
• Get e-mail– there’s very little you can do today without an email address and internet connection – free e-mail services like Google’s Gmail are perfect if you don’t have access to subscription-based services such as Microsoft Office and Outlook.  With symmetrical upload and download speeds, those e-mail attachments will fly through for speedy communication.  
• Cloud-based storage and back-up – Get serious about backing up your important data – providers like Google and Dropbox offer free accounts up to a certain storage capacity, and a paid subscription for users with bigger storage needs.  The best part of being in the cloud is having access to your data and documents from any device, anywhere in the world, with a simple log in.  Never again regret losing all your precious family photos and important documents due to a hard-drive crash.
• Get Virus and Malware Protection– just like any work laptop or device, make sure your personal devices are protected from the usual threats posed by viruses, malware and spyware, and keep these up to date. Applications such as Nortonprovides protection for the whole family from computer viruses, cryptolockers, secures passwords and more.

Get the most out of your fibre internet service in the new year. You will save money, time, expand your knowledge and learn new things, and find that essential downtime to shoot the breeze, watch a movie or chill out to your favourite tunes…

For more information go to www.metrofibre.co.za