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Outlook amidst the chaos

Nazmeera Moola, Head of SA Investments at Ninety One
Updated in line with new developments by Discovery Invest Technical Marketing on 24 March 2020 


THE CURRENT SITUATION

After several weeks of complacency, financial markets tipped into full-blown panic on 24 February as COVID-19 continued to spread. As a result of the virus, markets are scrambling to price in the impact on the global economy of both a supply shock and a demand shock. The supply shock is driven by the closure of a large portion of Chinese manufacturing capacity for several weeks in late January.

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Under the Life cover, Capital Disability and Severe Illness benefits all valid claims as a result of COVID-19 are fully covered under our policies whether the disease is contracted locally or abroad.

The Income Continuation Benefit, which provides cover for loss of income due to illness, injury and disability, provides the following protection:

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As of Friday, 27 March 2020, the country has been under a 21-day nationwide lockdown. Citizens are encouraged to not leave their homes, unless under strictly controlled circumstances. We encourage all of our clients to adhere to the rules set out by our President and we understand that many clients are concerned that this will affect their ability to meet their insurance premium commitments as well as their Vitality Drive rewards.

In the past week, we have introduced a number of product enhancements in response to COVID-19 and the resulting national lockdown. These product enhancements ensure that your clients are protected as well as rewarded during the lockdown, even if they do not drive or drive a lot less during this time.

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A large-scale awareness campaign is underway to provide members, employers and financial advisers with the latest information and guidance on how to prevent and contain potential infection. The COVID-19 information hub is located on the Discovery website and dedicated to providing the latest news, updates and information available.

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Dear Covid-19 Companions

Choosing to remain centred in the eye of the storm

Today the world looks just as foreign and unfamiliar as yesterday. It’s hard to get used to. While it feels like a long incarceration, we have a choice to make on how we view our position.

We can still hear the measured, recognisable voice of Nelson Mandela encouraging us “May your choices reflect your hopes, not your fears.”

In this spirit we encourage our team and all our fellow Covid-19 companions - along with our healthcare and other service providers - to consider that you are what you eat, and what we behold, we become. Today we can choose to consume and share uplifting messages of hope, or feed upon (and sow) warnings and alarm.

About us

A STRATEGIC PARTNER WHO UNDERSTANDS YOUR BUSINESS

The changeable nature of the insurance industry and the marketplace as a whole presents a number of challenges to insurers, as they launch new products with limited or prohibitively expensive technical and administrative internal resources. We are managed by insurance industry veterans who provide you with the tools and resources to scale up quickly and capture opportunities in the marketplace without hiring in-house staff, while ensuring that the customer experience continues to meet your high quality standards.

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CiG Wealth