South Africa’s latest labour statistics reveal a harsh reality: formal employment is shrinking, and long-term unemployment is on the rise. Over 76% of the country’s 8.2 million unemployed people have been jobless for a year or more, a sharp increase over the past decade. Traditional hiring practices are no longer enough.
Despite the return-to-office trend gaining traction globally, many companies are still embracing remote and hybrid work to attract talent. Working from home affects how people use their homes and vehicles, highlighting the need for tailored insurance to protect these assets.
Third-party insurance is essential but often misunderstood. While it covers damages you cause to others, many motorists don’t know their rights when claiming against someone else’s policy.
Life moves fast. Between work, family, and everyday responsibilities, it’s easy to feel overwhelmed. That’s why long weekends offer the perfect opportunity to pause, recharge, and explore — and for many South Africans, that means hitting the open road.
Over sharing travel plans online in real-time can significantly also increase the risk of break-ins and theft.
Miway has launched Micashback, a cashback feature that returns 10% of premiums to customers after just two consecutive claim-free years.
After 17 years, we’ve refreshed our look and it’s more than just a makeover. At Miway, we’re entering an exciting new phase, and our bold new brand identity reflects exactly where we’re headed: a future that’s digital, people-focused, and driven by innovation.
As climate change accelerates, South African businesses face increasing risks from extreme weather events such as floods, droughts, and wildfires. These disasters can cause financial losses, disrupt supply chains, and halt operations. The World Economic Forum warns that businesses failing to address climate risks could lose up to 7% of their earnings by 2035.
In recent years, short-term insurance premiums in South Africa have grown significantly. In 2022, gross written premiums reached R140.1 billion, reflecting a 9.7% increase from the previous year. This upward trend continued, with an average premium increase of 2.2% from the third to the fourth quarter of 2023.
Welcome to a space where big thinkers, problem-solvers, and future actuarial stars unite! The Miway Actuarial Hackathon is back—bigger, bolder, and more exciting than ever.