Marx says, "Sanlam recognises that behind every claim is a name, a story and a family. Sanlam remains steadfastly committed to helping move lives forward financially by paying on our promise when it matters the most. We encourage people to start talking more openly about risk cover and the way they’re choosing to protect the people they love. By having these courageous conversations, we can help amplify awareness around the need for policies to help people have the right support for when unthinkable, costly life curveballs happen.

“Young people, especially, often think they are invincible, but our statistics show a significant number of claims come from clients under 45. It's crucial for younger individuals to have appropriate cover, such as income protection and severe illness insurance, to safeguard their financial futures.”

Focus on Female Clients

The 2023 claim statistics highlight the specific risk cover needs of women, emphasising the importance of tailored insurance solutions to address their unique challenges and life circumstances. Here are some of the key trends to emerge:

• Cancer coverage: Cancer remained a significant cause of severe illness claims among women, with breast cancer being the most prevalent. This underscores the critical need for women to have cancer cover to ensure financial support during treatment and recovery. Colon and cervical cancer are also common cancers in women.
• An increase in accidents: Interestingly, there was a marked increase in sickness income claims for accidents and injuries from female clients, a significant number of which came from individuals aged 26 to 45. Sanlam will be watching this closely to see if it’s an anomaly or sustained trend.
• Complications in pregnancy: In 2023, Sanlam paid R5.5 million for C-sections as part of its cover for pregnancy complications under the sickness income benefit. Payment for pregnancy complications under its sickness income benefit have been increasing annually. Globally and in South Africa, C-sections are increasing because pregnancy complications are on the rise, linked primarily to diseases of lifestyle. Dr Morkel says, “Obesity, hypertension and Type II diabetes are starting earlier. These conditions are magnified by pregnancy. We’re also seeing women have first pregnancies later in life, which can bring more complications and cause obstetricians to opt for caesarean sections.”

The Question of Covid-19

Dr Morkel says that claims for Covid-19-linked deaths have come right down, now only impacting individuals that are elderly or immunocompromised. However, there’s been a rise in pneumonias linked to influenza and respiratory syncytial virus (RSV). This has caused an increase in hospitalisation claims, which mirrors global trends. “Covid-19 is still here but competing with influenza and RSV. So, we’re seeing the effect of these combined.”

Marx concludes, “Sanlam remains committed to our claims philosophy, ensuring clients have the right cover for their needs and providing financial security across generations. Our focus on innovation and tailored coverage continues to empower clients to navigate life's uncertainties with confidence. As ever, we aspire to be the trusted financial partner that puts our clients first.”

For more information on the Sanlam 2023 claims statistics, visit our website.