Insist Risk Managers [Pty] Ltd, hereafter referred to as “the Company, was tasked by a group of medical professionals to develop a product for their members to assist them in cases of alleged malpractice and other related complaints and to offer an indemnity cover as well. Through thorough research over a period of two and a half years, we came up with a solution. Our two tier product was introduced to the public sector as well as the private sector, and was received with open arms. The endorsement of Government as well as signed contracts with the SAMDP shows that we are on the right track.
Our CEO, Hendrik Heystek has developed a legal insurance product as far back as 1989, and has since been developing products for a vast array of players in the risk industry. He has years of experience in managing of businesses (and rescuing failing businesses) and building brands in the risk industry.
One of the most contentious issues in our modern day society is healthcare. In our developing democracy it is of the utmost importance to provide quality affordable healthcare to underpin social development and economic growth. Government is overstressed and the initiative needs to come from business to assist government and other para-statals as well as international NGOs to strengthen and build structures to ensure that this aspect of our development is taken care off.
As we very well learnt from our Western counterparts, litigious professionals are on the prowl and have now shifted focus onto the medical profession in South Africa. With malpractice lawsuits skyrocketing up to an astounding 900% over the past seven years and insurers running for cover, this has become a burning issue for our professionals as well as other roll players in the industry. IRM, with a proven track record in developing insurance and related products, with experience in legal cover products dating as far back as 1989 and focused risk management skills, was tasked by a group of medical professionals to take an in-depth look into this issue and to come up with a solution. This was done by:
This was all put together and measured against a number of models. Without indulging in the myriad of risk models and actuarial formulae, we clearly identified the essence of the solution by isolating the ominous looming currents:
This is clearly a vicious cycle and without due care, this will spiral out of control!
The solution is clear.
This model is a perfect fit and leans itself to be easily adapted to include other sectors such as estate agents and retailers (consumer protection act) etc.
If it exists improve it. If it doesn’t, design it!