Risk Summit 2015

Claims statistics 2014

Stephen van Niekerk

R130 BILLION

LARGESTDEATH 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 illnessR382 890 011

Death R1 970 108 967

Income disabilityR84 970 541

Total paidR 2.73bn

95.1%

3,9% 1%

Claims paidDid not meet policy defini-tionRepudiated

Repudiated claims

82%

18%

Non-disclosureSuicide

Reasons for repudiated claims

NO OMBUDSMAN RULINGS AGAINST MYRIAD IN 2014

Major causes of death

35% 12

%9% 5%20

% 9%

Cardiovascular system

Cancer Respiratorysystem

Unnatural Central nervous system

Endocrine and

metabolic

Trauma

Drowning

Aviation

Other accidents

Murder

Suicide

Motor vehicle accident

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

1%

1%

2%

12%

15%

20%

49%

Causes of unnatural deaths

CRITICALILLNESSCLAIMS

Major causes of critical illness claims

37% 14

%6% 3%

20% 4%

Cancer Cardiovascular system

Central nervous system

Musculo-skeletal

Visual Gastro-intestinal

Skin

3%

LUMP SUMDISABILITY CLAIMS

Major causes of disability claims

21% 12

%8% 6%15

% 6%

Musculo-skeletal

Cancer Nervous system Psychiatric/ Mental

Accidental Cardio-vascular Surgery

5%

INCOMEDISABILITY CLAIMS

Causes of income disability claims

25% 9% 8% 6%

11% 8%

Musculo-skeletal

Surgery Fractures & Hospitalisation

Cancer Accidental RespiratoryPsychiatric/Mental 

5%

SOME INTERESTINGOBSERVATIONS

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-intestinal

Skin

3%

Lower than industry repudiations

0.4%

Momentum1.0%Industry

1.1%

0.5%

2012 2013

TERMINAL ILLNESS CLAIMS STAND

OUT AGAINR82 MILLION

Relevance of income disability

25% 9% 8% 6%

11% 8%

Musculo-skeletal

Surgery Fractures & Hospitalisation

Cancer Accidental Respiratory Psychiatric/Mental 

5%

Death claims by age

< 30

31-40

41-50

51-60

>60

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

1%

3%

11%

22%

63%

Critical illness claims by age

< 30

31-40

41-50

51-60

>60

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

3%

21%

26%

29%

21%

Disability claims by age

< 30

31-40

41-50

51-60

>60

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

2%

21%

36%

31%

10%

Income disability claims by age

< 30

31-40

41-50

51-60

>60

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

3%

32%

38%

20%

7%

ARE YOU COVERED UNDER THE MOST RECENT AND

UPDATED BENEFIT?

TOTAL COST OF LIVING PRODUCT PHILOSOPHY

R200 MILLION

COST OF “LIVING PRODUCT” CLAIMS 2014

R25MILLION

MOMENTUM INTERACTIVE

DISCOUNTS R1

BILLION Discounts

RETIREMENT BOOSTER ALLOCATIONS – R450 MILLION

THANK YOU