Episode 34 - Johan van Greuning on the biggest challenges facing the South African short-term insurance industry
In this Business Talk with Michael Avery interview, Standard Insurance Limited’s Johan van Greuning unpacks the biggest challenges facing the South African short-term insurance industry.
Greuning is the CEO of Standard Insurance Limited – a subsidiary of the Standard Bank Group.
He first joined Standard Bank Group in 1995, and has built up an extensive resume at the company.
Greuning has transformed businesses, driven growth, and managed risk across multiple CFO, COO, and Director roles within the group.
In this Business Talk interview, Greuning outlines the key factors impacting the local and global insurance markets.
He then unpacks the sub-par penetration rate of short-term insurance in Africa, noting key barriers preventing a sizeable increase in insurance demand within the continent.
Greuning also discusses the significant growth opportunities in the region, which have led to several new parties entering South Africa over the past decade.
He explains how the increase in severe weather events has impacted the local insurance industry, too, and suggests how insurance providers should adapt their pricing strategies as a result.
Greuning concludes the interview by providing his predictions for the South African short-term insurance industry in 2025.
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