Risk Summit 2015

Claims statistics 2014

Stephen van Niekerk

R130 BILLION

LARGEST

DEATH CLAIM

R22 MILLION

LARGESTDISABILITY CLAIM

R10 MILLION

LARGEST CRITICAL ILLNESS

CLAIM

R4.7 MILLION

LARGEST INCOME DISABILITY CLAIM

R315 000 pm

Risk claims 2014

Disability

R299 156 783

Critical illness

R382 890 011

Death

R1 970 108 967

Income disability

R84 970 541

Total paid

R 2.73bn

95.1%

3,9% 1%

Claims paid

Did not meet policy definition

Repudiated

Repudiated claims

82%

18%

Non-disclosure

Suicide

Reasons for repudiated claims

NO OMBUDSMAN RULINGS AGAINST MYRIAD IN 2014

Major causes of death

35% 12% 9% 5%20% 9%

Cardiovascular

systemCancer Respiratory

system

Unnatural Central nervous

system

Endocrine

and

metabolic

1%

1%

2%

12%

15%

20%

49%

0% 10% 20% 30% 40% 50% 60%

Trauma

Drowning

Aviation

Otheraccidents

Murder

Suicide

Motorvehicle…

Causes of unnatural deaths

CRITICAL

ILLNESS

CLAIMS

Major causes of critical illness claims

37%14% 6%

3%20%

4%

Cancer Cardiovascular

system

Central nervous

system

Musculo-

skeletal

Visual Gastro-

intestinalSkin

3%

LUMP SUM

DISABILITY

CLAIMS

Major causes of disability claims

21%12% 8% 6%

15% 6%

Musculo-

skeletalCancer Nervous system Psychiatric/

Mental

Accidental Cardio-vascular Surgery

5%

INCOME

DISABILITY

CLAIMS

Causes of income disability claims

25% 9%8% 6%

11%8%

Musculo-

skeletalSurgery Fractures &

HospitalisationCancer Accidental Respiratory Psychiatric/

Mental

5%

SOME INTERESTING

OBSERVATIONS

Myriad “living” benefits increase

2013 2014

46 cents 65 cents

BIG 4 DOWN FROM

78%

TO 71%

Major causes of critical illness claims

37%14% 6%

3%20%

4%

Cancer Cardiovascular

system

Central nervous

system

Musculo-

skeletal

Visual Gastro-

intestinalSkin

3%

Lower than industry repudiations

0.4%

Momentum1.0%

Industry

1.1%

0.5%

2012 2013

TERMINAL ILLNESS CLAIMS STAND

OUT AGAIN

R82 MILLION

Relevance of income disability

25%9% 8% 6%

11%8%

Musculo-

skeletalSurgery Fractures &

Hospitalisation

Cancer Accidental Respiratory Psychiatric/

Mental

5%

Death claims by age

1%

3%

11%

22%

63%

0% 10% 20% 30% 40% 50% 60% 70%

< 30

31-40

41-50

51-60

>60

Critical illness claims by age

3%

21%

26%

29%

21%

0% 5% 10% 15% 20% 25% 30% 35%

< 30

31-40

41-50

51-60

>60

Disability claims by age

2%

21%

36%

31%

10%

0% 5% 10% 15% 20% 25% 30% 35% 40%

< 30

31-40

41-50

51-60

>60

Income disability claims by age

3%

32%

38%

20%

7%

0% 5% 10% 15% 20% 25% 30% 35% 40%

< 30

31-40

41-50

51-60

>60

ARE YOU COVEREDUNDER THE MOST

RECENT AND

UPDATED

BENEFIT?

TOTAL COST OF LIVING PRODUCT PHILOSOPHY

R200MILLION

COST OF “LIVING

PRODUCT” CLAIMS 2014

R25MILLION

MOMENTUM INTERACTIVE DISCOUNTS

R1BILLION

RETIREMENT BOOSTER ALLOCATIONS –

R450MILLION

THANK YOU