Access Future Risk Solutions Today

by Carel van der Merwe
25 April 2019
Future Risk Solutions Today

RXNet (Pty) Ltd was established in response to the growing need for local delivery of professional services. Founded by experienced professionals from diverse backgrounds, we rely on the combined expertise of a wide network of innovators to provide independent insurance intermediaries with innovative solutions that help you better serve your clients and communities. 

Support aggregation

Operating in a vacuum can limit your ability to match your client's needs with their risk appetite. 

It is often said “there is nothing that can’t be insured..."

This perspective only holds true when there is a good understanding of the risk and, of course, the probability of loss. 

Having multiple markets to engage underlines a comprehensive perspective and feeds the competitive dynamic.

In the corporate segment and specialised risks arena, capacity is inevitably a key component of a solution. By aggregating support and increasing our overall support of the market, it brings more players to the table when considering alternative solutions.

Not every risk or portfolio is necessarily desirable, but in the spirit of spreading risk, the more 'good' risks within a portfolio – the more space there is to accommodate challenging risks.

Leading from this aggregating support creates an ability to manage a portfolio within tolerance levels, which in turn has a positive effect on our market’s perspective and their willingness to innovate. 

 

Product development

Innovation is driven through a combination of the industry’s understanding of risk and clients evolving into previously unexplored areas.  

Consider the key risks concerning global CEO’s today versus five years ago. While “old” risks don’t disappear, emerging risks like cyber liability and -crime are consequences of global digitisation trends. 

Without a collective understanding and sharing of experiences, it would be near impossible to keep up with the rate of risk-change.

 

Service delivery

Being an early adopter myself, buying products online comes easy, but the more impactful the product being purchased, the more personalised I like my experience to be.  

Risk transfer has unfairly gone through a phase of commoditisation, but the impact at the time of a loss on either a household or business could be significant in the event of a loss.  

To this end, having a network of professionals to engage with provides another level of comfort about decisions of risk. 

To this end, networking between like-minded individuals is the future augmentation clients will appreciate. Local (and personal) is therefore still lekker.

A flood of technological developments has impacted the view the industry has on solutions, suggesting that AI and digitisation will become key channels for the consumer.  

One can’t deny the fact that we are in an age of unparalleled 'big data', which even the best minds struggle to manage.  

To this end, there is certainly a growing need for more intelligent systems to assist with understanding trends and benchmarks, but inevitably for a human interface to interpret and engage on.