JOHANNESBURG - Financial services firm 1Life said on Monday it had maintained its position as South Africa’s leading direct life insurer, with the largest market share for the eighth year running.
The results were published recently in the annual Swiss Re Individual Risk Market New Business Volume survey.
"In a market that is defined by economic pressures, we acknowledge that we are in a very fortunate position to be at the forefront of the direct life insurance market," CEO Laurence Hillman said.
The Swiss Re research indicated that digital distribution strategies, simplified underwriting processes, product design and technology were all contributing factors to success in the industry in the coming years.
"There is a growing need for life insurance among South African consumers and the local insurance market has a lot to offer," Hillman said.
"In a market that is defined by economic pressures, we acknowledge that we are in a very fortunate position to be at the forefront of the direct life insurance market," CEO Laurence Hillman said.