The Fulcrum Group Q&A: Tony van Niekerk

FULCRUM: Looking ahead into 2026, what trends or shifts, whether business, tech, regulatory, or product-related, do you think will have the biggest impact on the insurance industry?

TONY: Three things stand out for me:

• The focus on putting a human feel to client interactions, linked to
• Hyper personalisation of products and services, and thirdly
• Data is the battlefield of competition over the next few years, so we will see a competitive focus on data. Knowing your client, intimately, for compliance and marketing purposes, optimising the use of client information, innovation based on deep business intelligence.

FULCRUM: Who do you see shaping the conversation in South African insurance right now, the people, companies, or innovations that stand out to you?

TONY: Sanlam’s Fintech division: This is something I am super excited about and carefully watching. Riaan van Dyk, who heads this up, has a history of innovation and fresh business concepts within large corporates. He understands the lower end of the market (Assupol), investment market (Momentum MAS), specialist market (Natsure), Venture capital (Subtropico) and even SASRIA for the seemingly uninsurable risks. Discovery: Specifically for their fascinating focus on data and innovation around the “shared value” concept.

Capitec: Everyone is watching their every move. Again, the thread of knowing your client and data use superiority. They have just started and their focus on empowering their client base to use their mobile app, is the springboard for huge future innovation.

Risk led advice: The future of the independent adviser (short term and long term) has been secured with the move towards building large networks and focusing on professional planning and risk led advice. PSG Konsult and Consult by Momentum stand out. I see lots of developments here with divisions like Equilibrium (Momentum) and Growthhouse (Discovery), amongst several, shaping the professionalism of independent advisers and groups like Olea and GIB, powering risk led advice in broker networks.

FULCRUM: What’s working well in the South African insurance industry that perhaps doesn’t always get enough spotlight?

TONY: The jump in professional advice in financial planning, fiduciary services, and risk management/ risk mitigation via short term brokers. The level of expertise has increased massively, and the self-governed professionalism is exciting to see.

The integration of innovative technology solutions in every aspect of the industry is amazing to experience and will ensure the South African insurance industry remain one of the most innovative markets in the world.

FULCRUM: If you could change one thing about how the insurance industry operates or communicates, what would it be?

TONY: I would love to see much more cooperation and even consolidation amongst the various associations. I think we are wasting resources by duplicating processes and technologies. This leads to smaller associations being unable to provide to members what big associations can. Centralised member platform and CPD portals come to mind. It can still be ringfenced per region if that is needed.

FULCRUM: Of all the insurance-related stories you’ve reported on, which one has stayed with you, and why?

TONY: By far the closest to my heart and the most exciting was the amazing transformation of Assupol. Quietly and without any fanfare, this business went from pale male management and pale male clientele to the most successfully transformed business in our industry. Amazing leaders were nurtured and rose from the ranks to take the business from a Mutual to a listed entity and finally incorporation into Sanlam. Clients went from a focus on white males to inclusivity of products and services across the public service and the education staff, and intermediaries went from pale male to demographically representative. All quietly, as though it is nothing special. Integrity, ethics and a strong moral compass guided this journey.

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