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South Africa: Insurance industry update - May 2024
03 May 2024
This edition of the South African Insurance Update has a heavy regulatory flavour, covering topical issues such as treatment of vulnerable consumers, climate risk, and current and coming solvency changes. We discuss items including:
- Consumer vulnerability and future conduct regulations
- Leveraging climate risk management learnings from the UK
- Leveraging large language models in insurance
- Prudential Authority looking for industry to step up on critical quality steps
- Catastrophe calibrations - European Insurance and Occupational Pensions Authority looking at new scenarios
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