South Africa: Strong Growth in Funeral Products Bucks Insurance Industry Trend

A new Analytix BI report - Geo-Demographic Profile of Insurance Product Users - explored the consumer segment of South Africa's insurance product users and revealed strong growth in the number of Funeral Insurance holders.

Based on the report, there had only been a marginal increase in the number of insurance product users during the past five years. The total proportion of Insurance Product users had marginally improved to 30%, with just under 10 million South African adults that personally had a policy in 2011. Funeral Insurance products had experienced the greatest increase in the number of users, from 5.9 million (19%) in 2007 to 7.8 million (23%) in 2010.

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