New SA Insurance Company Launches |
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20 August - There is a new SA insurance company in town - Covision Life, which has big plans to capture 6.5% market share in the competitive life insurance industry by 2011. Covision is a black-owned company, and the CEO is Oupa Leboea. There are now no fewer than thirty-eight long term insurance companies in South Africa, and gaining that level of market share might prove very difficult according to industry analysts. Covision Life also has plans to expand into the car insurance and home insurance markets by the middle of next year by launching a short term insurance company as well. There are also plans to implement a wealth management unit at the end of 2008. The company has already received Financial Services Board approval, and they have established a JV with Wizzit Bank, which is a Bank Of Athens subsidiary. Apparently you'll be able to get life coverage of up to one million rand over the telephone. There will also be up to two million rands worth of life insurance coverage available without a medical exam or the dreaded HIV test. We'll follow the progress of Covision Life with great interest, and will continue to update this story as the new company stakes its claim on the South African insurance landscape. Related Insurance Articles: * Hillary Clinton Promises Health Insurance For All * Sanlam Posts Strong Results For Now * SA Insurance Firms To Face Investigation * Dial Direct Offers 4x4 Short Term Insurance * Car Insurance Claims In SA Rise Sharply * SA Eagle Now Part Of Zurich Financial Services Group * Insurance Scam In Alaksa Traced To South Africa * AIDS Insurance A Moneyspinner In SA 
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| 3/14/2010 7:06:53 AM | |||||||||||||||||||||
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