Challenges Facing the South African Life Insurance Market

Economic Fluctuations: The South African economy is subject to global economic trends and domestic factors, which can impact insurance demand and premiums.
Natural Disasters: The country is prone to natural disasters, such as floods, droughts, and earthquakes, which can lead to significant insurance claims.
Fraud and Claims Inflation: Addressing fraud and inflated claims is a major challenge for insurers.
Regulatory Changes: The insurance industry is subject to evolving regulatory frameworks, which can impact business operations and profitability.
Competition: Intense competition among insurers, both domestic and international, can put pressure on pricing and profitability.