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The insurance industry couldn’t be more familiar with hindsight. It is inseparable from the principles of underwriting. However, if the fortune cookie Confucianism were true, that the “past is the best indicator of the future”, then insurers could all put down their pens and go to the beach as there would be no need to do anymore to secure future success and longevity. After all, when it comes to human beings who drive cars, and smoke cigarettes and start wars; and you throw in climate change, the best predictor of future behaviour is past behaviour? Not really. There is a reason this expression is normally found tightly wrapped inside a cookie; it is a gross over-simplification.

Scientists who study human behaviour agree that past behaviour is a useful marker for future behaviour. But only under specific conditions including that the anticipated situation must be essentially the same as the past situation that activated the behaviour. Because situations are changing more regularly in a single life-time than ever before, insurance executives cannot and should not be relying exclusively on the past to secure a prosperous future.

Our 2024 KPMG insurance industry survey is titled Interconnected, because these themes don’t develop in isolation or exist separately from one another. There is a dynamism between them – more technology and more data drives more cyber risk; more climate change requires more data to identify the flood plain and therefore the best parametric insurance solution to address policyholders’ needs.

With this in mind, we have produced our 2025 insurance training calendar, which we hope will inspire you to continue to find innovative ways to adapt in times of consistent uncertainty.

We look forward to continuing to interact, building relationships and share our technical expertise with you through a combination of in-person and on-line training courses.

Through the 2025 suite of courses we are offering, we demonstrate our passion for the insurance industry, our commitment to quality industry training and our support to the industry in their journey.

KPMG Insurance practice team 

 

For more information, please contact Kashmira Naran, Partner at kashmira.naran@kpmg.co.za

or +27 82 710 7629.

Register for Training Courses

 

If you would like to register for any of our courses, please email Arthi Jimmy

at arthi.jimmy@kpmg.co.za or +27 79 502 5234.

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