Accidents on South Africa’s roads resulted in 49% of all unnatural deaths being claimed through life insurance in 2014, according to the Momentum Retail Insurance claim statistics for the period January to December 2014.

1. Risk Summit 2015
Claims statistics 2014
Stephen van Niekerk

2. R130 BILLION

3. LARGEST
DEATH CLAIM
R22 MILLION

4. LARGEST
DISABILITY CLAIM
R10 MILLION

5. LARGEST
CRITICAL ILLNESS
CLAIM
R4.7 MILLION

6. LARGEST
INCOME
DISABILITY CLAIM
R315 000 pm

7. Risk claims 2014
Disability
R299 156 783
Critical illness
R382 890 011
Death
R1 970 108 967
Income disability
R84 970 541
Total paid
R 2.73bn

8. 95.1%
3,9% 1%
Claims paid
Did not meet policy definition
Repudiated
Repudiated claims

9. 82%
18%
Non-disclosure
Suicide
Reasons for repudiated claims

10. NO OMBUDSMAN
RULINGS
AGAINST
MYRIAD IN
2014

11. Major causes of death
35% 12% 9% 5%
20% 9%
Cardiovascular
system
Cancer Respiratory
system
Unnatural Central nervous
system
Endocrine
and
metabolic

12. 1%
1%
2%
12%
15%
20%
49%
0% 10% 20% 30% 40% 50% 60%
Trauma
Drowning
Aviation
Other
accidents
Murder
Suicide
Motor
vehicle…
Causes of unnatural deaths

13. CRITICAL
ILLNESS
CLAIMS

14. Major causes of critical illness claims
37%
14% 6% 3%
20%
4%
Cancer Cardiovascular
system
Central nervous
system
Musculo-
skeletal
Visual Gastro-
intestinal
Skin
3%

15. LUMP SUM
DISABILITY
CLAIMS

16. Major causes of disability claims
21%
12% 8% 6%
15% 6%
Musculo-
skeletal
Cancer Nervous system Psychiatric/
Mental
Accidental Cardio-vascular Surgery
5%

17. INCOME
DISABILITY
CLAIMS

18. Causes of income disability claims
25% 9%
8% 6%
11%
8%
Musculo-
skeletal
Surgery Fractures &
Hospitalisation
Cancer Accidental Respiratory Psychiatric/
Mental
5%

19. SOME INTERESTING
OBSERVATIONS

20. Myriad “living” benefits increase
2013 2014
46 cents
65 cents

21. BIG 4
DOWN FROM
78%
TO 71%

22. Major causes of critical illness claims
37%
14% 6% 3%
20%
4%
Cancer Cardiovascular
system
Central nervous
system
Musculo-
skeletal
Visual Gastro-
intestinal
Skin
3%

23. Lower than industry repudiations
0.4%
Momentum
1.0%
Industry
1.1%
0.5%
2012 2013

24. TERMINAL ILLNESS
CLAIMS STAND
OUT AGAIN
R82 MILLION

25. Relevance of income disability
25%
9% 8% 6%
11%
8%
Musculo-
skeletal
Surgery Fractures &
Hospitalisation
Cancer Accidental Respiratory Psychiatric/
Mental
5%

26. Death claims by age
1%
3%
11%
22%
63%
0% 10% 20% 30% 40% 50% 60% 70%
< 30
31-40
41-50
51-60
>60

27. Critical illness claims by age
3%
21%
26%
29%
21%
0% 5% 10% 15% 20% 25% 30% 35%
< 30
31-40
41-50
51-60
>60

28. Disability claims by age
2%
21%
36%
31%
10%
0% 5% 10% 15% 20% 25% 30% 35% 40%
< 30
31-40
41-50
51-60
>60

29. Income disability claims by age
3%
32%
38%
20%
7%
0% 5% 10% 15% 20% 25% 30% 35% 40%
< 30
31-40
41-50
51-60
>60

30. ARE YOU COVERED
UNDER THE MOST
RECENT AND
UPDATED
BENEFIT?

31. TOTAL COST
OF LIVING
PRODUCT
PHILOSOPHY
R200
MILLION

32. COST OF “LIVING
PRODUCT” CLAIMS 2014
R25
MILLION

33. MOMENTUM INTERACTIVE
DISCOUNTS
R1
BILLION

34. RETIREMENT BOOSTER
ALLOCATIONS –
R450
MILLION

35. THANK YOU