Guest : Peter Tshiguvho, CEO of Metropolitan Retail
Just like most South Africans, you probably want what is best for yourself and your
family. Supporting your dreams is the need for financial security and the knowledge that
you can weather any storm. With this in mind, you have dutifully taken out a funeral
policy, a life policy and invested in a retirement annuity or pension plan.
And then something major or unexpected occurs that makes you re-evaluate your
entire situation. Enter switch triggers – significant changes in circumstance that alter
your financial ballparks – such as marriage, birth, changing jobs, buying a new house or
Some switch triggers are more low-key – perhaps your policy has reached the end of its
term, you are feeling the strain of too many financial commitments, or you are in debt. A
reflex action might be to cash in your policies or switch to a cheaper option.
In fact, financial strain is something many South Africans struggle with. A Metropolitan
study shows that many people do not budget properly and do not account for
fluctuations or unseen expenses. Fluctuating fuel, electricity and commodities prices
don’t make it any easier to budget with certainty.
The reality is, however, if you do not stick to some kind of savings regimen and insure
yourself against unexpected events, your dreams and financial security could quickly go
up in smoke. If this happens, you may not be able to give your children the best
education possible, buy a new car or enjoy a relatively stress-free retirement.
So, what do you need to consider before switching policies, cashing them in or deciding
not to have them at all? While price is often the main consideration when choosing a
particular policy, there are many other factors that should be considered before making
a final decision.
According to Bain’s Customer Behaviour and Loyalty in Insurance Report, which
surveyed more than 174,000 retail insurance consumers in 18 countries, insurance
customers worldwide want insurers to be accessible, accurate, fair, fast, empathetic and
reliable – for every customer in every encounter.
If you are considering changing your policy, it is important to first consider how well the
insurance company has treated you in the time you have been insured with them. Has
the company responded to your queries quickly? Are the employees friendly and
helpful each time? Do they listen to you properly? Are your issues resolved to your
satisfaction? Was it easy to make a claim or resolve an issue?
Conduct research – will the company you are considering changing to be able to offer
the same service? Will it honour your claims? Does it have the necessary financial clout
to do so? Here it may be helpful to check reports by industry benchmark bodies such as
the South African Customer Satisfaction Index (SAcsi), which is conducted by Consulta,
or Ask Afrika Orange Index to find out more about the reputation of the company you
A critical trait of insurers who manage to build customer loyalty is their ability to adopt
a customer-centric approach in every aspect of the business. Key to this is harnessing
the immense amount of data that is available to understand customers in an allinclusive
way and give them what they want.
In this respect, do you feel like your insurer understands you and is offering you
products that make sense to you and that are relevant to your particular life-phase?
More than insurance
Today, customers expect more than just insurance from their insurers. Benefits can
include repatriation services if a family member dies far from home, assistance with
arranging a funeral and advice that extends to all parts of a person’s financial life goal
that they are trying to provide for.
The best protection for you and your family
Switching life policies to a cheaper option could be a short-term solution with adverse
outcomes. Some of these include: new waiting periods, a significantly reduced pay-out
for your family in the unfortunate event of your death or removal of valuable premium
Guests : Joy Cronje
Guests : Jonathon Ancer
The author of Spy : Uncovering Craig Williamson, Jonathon Ancer's new book "Betrayal : The Secret Lives of Apartheid Spies" looks at the roles of spies in the Apartheid era, from a navy super spy working for Mother Russia to the young students that were approached by security police to spy on activists at Tertiary institutions.
Guest : Maxine BezuidenhoutLISTEN TO PODCAST
Guest : Billy De Beer
Motorcyclists are revved-up over a City traffic by-law amendment they say will outlaw lane sharing with cars or riding between cars (lane-splitting).
Bikers have accused the City of trying to ban them from riding between motor vehicles and making motorcycles behave like cars.
Guests : Susanna Kennedy
Catherine van Heerden
Joining Susanna is :
A successful business and life coach, entrepreneur, and author, Catherine van Heerden
has used her expertise and experience to benefit various organisations and individuals
across the globe.
Through Catherine’s coaching, support, and life success products, you will have the tools
to finally take hold of your vision/dreams and transform them into reality.
Guest : Chantelle Goliath
Meet Chantelle Goliath is a businesswoman and entrepreneur who was born and raised
in Klipfontein and today she currently owns an import and export company called Milli
Chantelle also heads up New Heritage Foundation in the Western Cape, which provides
remodelled, clean and healthy infrastructures and enhance the internal and external
aesthetics for learning environments like Educare Centres and Primary Schools.
Chantelle is on the show this evening to talk about the work that she does but also what
inspires her to give back in these ways to her community.
Guests : Nazeer Sonday
In an open letter to the Mayor of Cape Town, Nazeer Sonday wrote that “ 3000 Phillipa
Horticultural Area farm workers will…lose their jobs” if their organisation’s bid to stop
Oakland City developer Wentzel Oaker – from going ahead with their planned
development of the land that is the Philippi Horticultural Area (PHA) Sonday also makes
the point that most of the people who will be affected by this development are women
and the youth and that Another 3000 who work in support services will also lose their
jobs. All of this rests on the outcome of a court case which will commence on October
15 in the Western Cape High Court.
Guest : Keketso Tsita
Whitley Neill, award winning distiller, since 1762. Traditional English Gins hand crafted in small batches. Inspired by flavours from around the world.
Guest : Stuart Taylor
It's an opportunity to spot the likes of John Vlismas and Schalk Bezuidenhout face off with Stuart Taylor or hear Tumi Morake and Jason Goliath roar in a wildly hilarious show.
Guest : Tim Lundy
Email- Tim@cape Town hiking.co.za
Instagram- Cape Town Hiking