Thesis submitted in fulfilment of the requirements for the degree Master of Technology Project Management in the Faculty of Business at the Cape Peninsula University of Technology 2014 / In past, the impact of communication on project quality did not receive considerable attention, perhaps since the inception of project management as the field of enquiry. This is in spite of the fact that the Project Management Body of Knowledge (PMBOK) has nine knowledge areas, and amongst these elements, communication is regarded as an integral part of these aspects of project quality. While (in principle) communication is regarded as a core element of project quality, in practice, the four core elements, which are used to determine the success of the project are time, cost, scope, and quality. This study aims to investigate the effects of communication on project quality with reference to the Facilities Management Project at a the Life Assurance Company located in Cape Town, Western Cape, South Africa. The services, which are offered by facility management companies differ across the spectrum of companies, but most of these services include build operations, maintenance, real estate, human and environmental factors , project management, space planning, basic management activities, finance, quality assessment, communication and general administrative support. The major question that the study seeks to address is to determine if stakeholder communication impacts on the quality of projects at all. The research used qualitative methodology research design to approach data collection and analysis, which was supported by survey questionnaires to analyse the effect of communication on Facility Management project quality. In this context, project quality is determined by the extent to which project outcomes meet the needs and expectations of project-end users. The researcher argues that these expectations must be communicated in order to improve the success of the project (i.e. project quality). With regard to the FMU project at the Life Assurance Company, the study revealed that stakeholder communication is crucial and hence it is a core essential element, which affects the quality of FMU projects. The study also revealed that in recent years, tenants have expressed their dissatisfaction about projects that are executed by the facility management division. The major problem for the tenant’s dissatisfaction appeared to stem from the lack of stakeholder communication during facility management projects. This dissatisfaction has led to tenants rating facility management projects quality as poor. In view of these challenges, the study thus concludes with an analysis of stakeholder communication at the life assurance company and its impact on the quality of facility management projects. The findings of the study suggest that communication amongst stakeholders is crucial and can affect the quality of projects. Even though tenants were the custodians of the facility management projects, they only received limited information during the project life cycle. In some instances, communication in the form of layout design, held desk and telephone, were identified as major communication channels that are used to facilitate communication. However, there was a lack of communication with respect to decision-making about the project across the project lifecycle and thus the study recommended that stakeholder communication should occur in all project phases.

In a fragmented and competitive industry, it is likely for the smaller roleplayer to be challenged in terms of competitiveness and market share. It is, therefore, important for the smaller organisation to etch its position in the market, by increasing its competitive advantage. In a milieu where there is a shift in distribution dynamics and the balance of power, and an increase in consumerism, the need to react is a pressing issue to be addressed by the smaller player. In the context of this study, the small and medium-low-impact intermediary in the South African short-term insurance industry is under pressure from, among others, direct distribution models and the increasing volume of the medium-high and high-impact intermediaries. It is determined in this study that the intermediary is challenged by all five market forces, as postulated by Porter in the model of “the five forces that shape industry competition”. The intermediary organisation must adopt positioning strategies, and differentiate its offering, in order to stay relevant in the industry. The short-term insurance intermediate industry is classified as a service industry; and therefore, it has unique factors to attend to. The positioning and differentiation strategies must be implemented without compromising the service quality levels. Furthermore, in the development of positioning strategies, it is essential to investigate the traditional marketing mix, while amplifying the mix with contemporary views of the subject. These form the basis of the positioning strategy; and from there, differentiation offerings can be shaped. A survey analysis of the product suppliers aims to identify the most important strategies for success. The study relies on the industry knowledge of the executives of these organisations, to steer the positioning strategies of the intermediary to fit in with their own positioning in the marketplace.

M.Comm. / In order to reduce financial losses due to the increasing number of AIDS related deaths, insurance companies have to review their current HIV testing requirements. Due to a lack of relevant information, Momentum Life had to conduct a formal study in order to make a proper marketing decision regarding HIV testing requirements. It was therefore imperative to determine the possible scope of changes as well as the impact of the proposed adjustments on both clients and brokers. The purpose of this study was therefore to: determine how brokers feel about the AIDS risk insurance companies have to face; determine how brokers will react to different precautionary methods taken by insurance companies in general and specifically Momentum Life; obtain feedback from brokers with regard to their perception of clients' attitudes towards HIV testing; determine how clients themselves feel about HIV testing as well as retesting; and determine clients' attitudes towards the whole procedure of HIV testing. The empirical research consisted of two phases. Phase 1 was conducted by means of a focus group discussion with four Momentum Life partners and personal and telephone interviews with eight insurance brokers in the Gauteng area. Phase 2 was conducted by means of telephone interviews with 60 Momentum Life clients. A literature study revealed that attitudes consist primarily of three components, namely the affective, cognitive and behavioural components. In order to change clients' attitudes towards HIV testing, life insurance companies need to focus on the cognitive component which consists of knowledge and perceptions that are acquired by direct experiences and information obtained from different sources. However, not all attitudes are susceptible to change. It is therefore important to determine what amount of effort should be spent on trying to change clients' attitudes and how negative attitudes can be handled. The three groups had different opinions about HIV testing based on their own frame of reference. However, within the group there were consensus on most of the issues addressed during the interviews and discussion. In analysing the focus group discussion with the partners it was clear that they approved of HIV testing and retesting, and they believed it has .no negative effect on the marketing activities of brokers or the attitudes of clients towards Momentum Life. However, they believed that Momentum Life could improve its customer service by making the whole procedure of HIV testing more customer friendly. The brokers, on the other hand, were far more negative about HIV testing and believed that it complicates life insurance unnecessarily. Retesting was regarded as unacceptable and they were not prepared to become involved in the administration of retesting. However, the brokers agreed with the partners that they have a responsibility to make the procedure of HIV testing more convenient for the client. Early in the research it was clear that gender, age, language and the fact whether clients have already undergone HIV testing, had no significant effect on clients' attitudes towards HIV testing. HIV testing was regarded as a part of life insurance. However, customer service and convenience still seemed very important to the clients.

A research report submitted to the Faculty of Commerce, Law and Management, University of the Witwatersrand, in partial fulfilment of the requirements for the degree of Master of Management in the field of Strategic Marketing Johannesburg, 2017 / Purpose: This study investigates the effectiveness of brand experience as a differentiator in the South African short-term insurance industry. Design/Methodology/Data Collection: This paper reviewed available literature in the fields of brand experience, brand differentiation, brand distinctiveness as well as the South African short-term insurance industry. A quantitative approach was used in order to prove the effectiveness of brand experience as a differentiator. The data was collected through a snowball sample using the Qualtrics online platform with a total of 101 responses received. Structural equation modelling was used to analyse the relationship between the variables identified in the study. Key findings:  Brand distinctiveness and brand personality have a positive effect on brand experience.  A decrease in brand differentiation however has a high likelihood of resulting in an increase in brand experience. The same applies the other way round.  A combination of brand personality, education, employment status and consequences of brand experience affect brand distinctiveness positively. Implications: A highly competitive market as well as changing customer demands have resulted in marketers being challenged to develop strategies that will enable brands to connect both rationally and emotionally with their customers. Brand experience is crucial in achieving this. Research Limitations: The study only focussed on short-term insurance policy holders based in Johannesburg and excluded the rest of the country. Further research could consider looking at the rest of the country / MT2017

Study project (MAcc)--Stellenbosch University, 2001. / ENGLISH ABSTRACT: The most basic principle of agency theory is that an individual will always serve his own interest best. According to Eisenhardt (1989) agency theory describes individuals as rational, risk averse en motivated by egotism. Agency theory also deals with the conflict that exists between different parties in an organization due to people's egoism. This self-interest can lead to goal incongruence if a person is placed in an environment where he has to serve somebody else's interest. Ownership and management vested in the same party until about 130 years ago. These roles were however separated with the development of the modem organization. The principal or owner is now represented by the shareholder and management serves as the agent. The principal thus appoints the agent to serve and manage his interest in the organization optimally. The principal's goal is the maximising of his shareholders' wealth. The agent's goal to carry out his task with the minimum effort and or to obtain maximum benefit for himself. It is thus clear that the goals of the principal and agent might often differ and this will give rise to goal Incongruence. This goal incongruence may give rise to some managerial actions which will be detrimental to optimal value of the company. The agency conflict, which is caused by man's self interest, manifests in the modem organization in a number of ways. These are referred to agency problems in this assignment. Agency problems are found both on a micro- and macroeconomical level. Agency cost is the sum of the difference between the real and optimal value of the company, the monitoring costs of the principal and the bonding costs of the agent. This cost is to the disadvantage of the principal and might even be to the disadvantage of the agent. It is thus essential that agency conflict and agency costs are reduced to a minimum. A number of measures are taken to address the agency problems and to reduce their negative effect on the organization. None of these measures will be efficient enough ifused in isolation. An optimal combination of solutions will depend on the company's specific circumstances. An empirical study was conducted to determine to what extent the agency problems manifest during the demutualisation of a big insurance business. The measures taken to address these problems were also investigated as well as the extent to which these were successful. / AFRIKAANSE OPSOMMING: Die basiese aanname van agentskapsteorie is dat die individu sy selfbelang altyd eerste sal stel. Volgens Eisenhardt (1989) beskryf agentskapsteorie individue as rasioneel, risikoongeneigd en gemotiveer deur selfbelang. Agentskapsteorie handel verder oor die konflik wat tussen die verskillende belanghebbende partye binne 'n organisasie as gevolg van persone se selfbelang ontstaan. Hierdie selfbelang van die mens kan lei tot doelwitinkongruensie, indien die persoon in 'n omgewing geplaas word waar daar van hom verwag word om 'n ander se belange te dien. Eienaarskap en bestuur was tot ongeveer 130 jaar gelede gevestig in dieselfde party. Met die totstandkoming van die moderne onderneming, is hierdie rolle egter geskei. Die prinsipaal of eienaar word nou verteenwoordig deur die aandeelhouer en die bestuur dien as die agent. Die prinsipaal stel dus die agent aan om na sy belang in die onderneming om te sien en dit optimaal te bestuur. Die prinsipaal se doel is die maksimering van sy aandeelhouerswelvaart. Die agent poog om sy taak met minimale inspanning te voltooi en of uitsonderlike voordeel vir homself te behaal. Dit is duidelik dat die prinsipaal en agent se doelwitte meermale sal verskil en doelwitinkongruensie ontstaan dus. Hierdie doelwitinkongruensie word vergestalt in sekere aksies wat bestuur soms neem en wat daartoe lei dat die optimale waarde van die firma nie bereik word nie. Die agentskapskonflik wat as gevolg van die partye se selfbelang ontstaan manifesteer in die moderne onderneming op 'n verskeidenheid van wyses, wat in hierdie werkstuk as agenskapsprobleme gedefinieer word. Agentskapsprobleme kom op 'n mikro- sowel as op 'n makro-ekonomiese vlak voor. Die verskil tussen die werklike en optimale waarde van die organisasie, plus die prinsipaal se moniteringskoste en die agent se gebondenheidskoste, verteenwoordig agentskapskoste. Hierdie koste strek tot die nadeel van die eienaars en meermale ook tot die nadeel van die bestuur. Dit is dus noodsaaklik dat agentskapskonflik en die gepaardgaande agentskapskoste tot 'n minimum beperk word. Daar word van 'n verskeidenheid van maatreëls gebruik gemaak ten einde die agenskapsprobleme aan te spreek en hul negatiewe impak op die onderneming te versag. Nie een van hierdie oplossings kan in isolasie gebruik gemaak word nie en afhangend van die onderneming se spesifieke omstandighede, sal daar hoogstens 'n optimale kombinasie van oplossings ontwikkel kan word. Daar is vervolgens in hierdie werkstuk 'n empiriese ondersoek uitgevoer ten einde te bepaal in hoe 'n mate die agenskapsprobleme tydens die demutualisering van 'n groot versekeringsonderneming manifesteer. Die neem van regstellende stappe om hierdie probleem aan te spreek is ondersoek, sowel as die mate waartoe hierdie maatreëls suksesvol was al dan nie.

This study investigates the extent to which South African short-term insurance companies manage climate change risk, as evidenced in their annual and sustainability reporting. The study context takes into account the fact that the world’s climate has been changing at a more accelerated rate since the early 1970s, causing disasters that have negatively affected world economies in the last ten years. Insurers, due to their huge financial resource base, long history of spurring innovation around risk and encouraging loss-reducing behaviour as well as high levels of vulnerability, have been identified as one industry that could lead societies in finding solutions to climate change risk. A key element of such a corporate resolve involves taking a leadership position which makes business sense for insurers. As such, this research analyses how innovative solutions to change-related problems could result in reduced exposure to climate change in line with corporate triple bottom line objectives. Based on a purposive sampling of short-term insurance companies operating in the South African market during the 2007 financial year, the study uses the companies’ annual and sustainability reports in order to critically assess evidence of climate change-related performance. The assessment is undertaken against the best practice indicators of climate change risk management, as defined by Ceres – a global researcher on climate change management in the business context. The data analysis is largely qualitative, consisting of a narrative presentation of the results and a conceptual application of the results to the triple bottom line which forms the theoretical framework of this study. The study finds that the South African short-term insurers were generally not living up to the climate change management ideals, in comparison to their multinational counterparts. For the South African short-term insurers, corporate strategic product innovation and planning was insignificant. Also negligible was board involvement, as well as CEO involvement, though in at least one case of the 4 local short-term insurance, there was evidence of extensive CEO involvement in climate change risk management. On the whole, these findings represent a lapse in corporate governance inasmuch as climate change risk management is concerned. Local short-term insurers generally performed well in the area of public disclosure, with their scores ranging from insignificant to extensive. In contrast, multinational short-term insurers’ performance with regard to climate change risk intervention ranged from insignificant tointegrated, across the five governance areas of board oversight, management execution, public disclosure, emissions accounting and strategic planning. As such, the study broadly recommends that short-term insurers in South Africa should make climate change part of their overall risk management strategies in order for them to remain competitive in an environment of increased climate change-related risk. More specifically, the research project recommends that the local insurers should proactively lead climate change mitigation measures through, for instance, investing in clean energy projects and incentivising their clients’ participation in the carbon market to prepare themselves for possible regulatory restrictions after the Copenhagen climate change conference planned for December 2009. This study also challenges insurers to help communities and as well as other businesses in their value chain to reduce their negative impacts on the world’s climate and to be more resilient against disasters which may arise from the high levels of greenhouse gases already in the atmosphere. Further, it recommends that insurers should create internal board and executive level climate change-related structures, as these will facilitate the integration of the proposed initiatives into their overall sustainability strategies. Above all, the study recommends that insurers should enhance the reporting of their climate change-related risk, opportunities and initiatives to improve their integrity.

Thesis (PhD (Accounting))--University of Stellenbosch, 2005. / ENGLISH ABSTRACT: The South African long-term insurance industry is currently believed to be at an important crossroads in its existence. The industry is haunted by concerns about high cost structures, a lack of transparency in disclosure to policyholders, unfulfilled expectations of policyholders and the proliferation of available investment vehicles in the market. These concerns are exerting pressure on the existing products and practices of South African long-term insurers. The audits of these insurers are of a complex and high-risk nature as a result of the complexity of their operations and, in particular, the highly complex actuarial valuation process in respect of policy liabilities. The prevailing auditing standards in South Africa require auditors to include policy liabilities in the ambit of their audit opinions. Recent investigations into failed long-term insurers and their audits, including those of local Fedsure Life, British Equitable Life Assurance Society and Australian HIH Insurance, demonstrate the high risk involved in the audits of long-term insurers. Against this background, the objective of this research was to develop a best practice framework for the formulation of overall audit strategies for policy liabilities arising under insurance contracts and the related earnings of listed South African long-term insurers. To justify the focus of the research on the abovementioned components of the financial statements of listed South African long-term insurers, a questionnaire was developed and sent to auditors of all long-term insurers listed on the JSE Securities Exchange South Africa for completion. Responses were processed to calculate a Relative Inherent Risk Index specifically developed for use in this research, ranking various industry-specific account balances and classes of transactions on the basis of their potential exposure to inherent risk. The results of this process provided significant support for the hypotheses that policy liabilities and the related earnings are potentially exposed to the highest levels of inherent risk. The remainder of the research consequently focused on these components. A further very comprehensive questionnaire was developed to collect data with respect to respondents’ views of potential best practices for the audit of various aspects relating to policy liabilities arising under insurance contracts and the related earnings of listed South African long-term insurers, on the basis of their extensive experience in the industry. This questionnaire was sent to experienced auditors responsible for the audits of the five largest listed long-term insurers in South Africa for completion. Responses were received from four of the five potential respondents, resulting in an 80% response rate, enabling meaningful analysis and interpretation of the data. Responses were analysed, interpreted and documented in the form of a detailed best practice framework for the formulation of overall audit strategies for policy liabilities arising under insurance contracts and the related earnings. The lack of a fifth response was compensated for by a review of the research findings by experienced auditors of Deloitte and the provision of their opinions thereon. Deloitte was selected for this purpose as the fact that this auditing firm is the only one of the so-called “Big Four” auditing firms that does not act as auditor of one of the selected target long-term insurers, resulted in the initial exclusion of the firm’s views from the research. The framework was updated to reflect these opinions and now incorporates input from all of the so-called “Big Four” auditing firms. The framework provides a comprehensive discussion of all possible types of audit procedures that may be relevant to the audit of all aspects of policy liabilities arising under insurance contracts and the related earnings of listed South African long-term insurers. As no such framework existed prior to this research, the development thereof made a significant contribution to existing knowledge. This contribution is the result of, inter alia, the method followed in designing the framework, resulting in it representing a synthesis of, inter alia, the following: • existing international and limited local guidance for auditors and, in particular, auditors of long-term insurers, customised for the South African environment; • best practices currently in use on the audits of listed South African long-term insurers; and • views of experienced practitioners on the abovementioned types of best practices that might not be employed at the moment, but that should, in their views, be employed in future. The valuable contribution of this research to existing knowledge is clear from the fact that numerous publications in popular professional as well as accredited academic journals, plus a paper delivered at a conference have resulted from it (refer to the source list and Appendix A). Furthermore, the South African Institute of Chartered Accountants has approved a project to update existing South African guidance for auditors of long-term insurers on the basis of the findings of this research.

Thesis (MBA (Business Management))--Stellenbosch University, 2008. / ENGLISH ABSTRACT: The current effects of globalisation are requiring of leaders to deal with many changes in the workplace, including a globally changing, diverse workforce. The question that this research report aims to address is what does it require of a leader to be successful in the business environment today and what characteristics or behaviours would such a leader display? It is argued that although the context of leadership has and will continue to change, the fundamentals of leadership have essentially remained the same (Kouzes and Pousner, 2002:xviii). A comprehensive study of literature in the field of leadership will reveal the views of various writers on this subject, namely what constitutes effective leadership. Five leadership theories, which in the researcher's opinion give a balanced overview of the various theories, are discussed in more detail and later on used to evaluate the leadership characteristics and style of one of the very successful leaders in South Africa, the current CEO of Sanlam, Dr. Johan van Zyl. The combination of these five theories focuses on leadership characteristics, leadership behaviours, different leadership styles and the relational aspect of leadership, that is the interaction between the leader and his followers. These five theories include the situational leadership theory, servant leadership, transformational leadership, the theory of level five leadership and emotional intelligence. A broad overview of Sanlam's history focusing on the company's transformation in recent years and its contribution to broad based empowerment are also discussed, providing the background and context to discuss the leadership provided by Johan van Zyl in recent years. The fourth chapter of this report provides an analysis of primary data collected through questionnaires sent to senior executives of Sanlam as well as through an interview with Van Zyl. The final chapter contains conclusions from the research results, namely the leadership characteristics and style of Van Zyl and his leadership approach as compared to the various theories studied. The researcher is of the opinion that valuable lessons are to be extracted from examining Van Zyl's leadership characteristics and style and that these could be applied to modern business practice. The research results showed that Van Zyl has characteristics of most of the leadership theories investigated in this study including characteristics of the situational leader, transformational leader, level five leader and that of an emotionally intelligent leader and that this is standing him in good stead for the transformation and strategic repositioning of Sanlam. / AFRIKAANSE OPSOMMING: Die huidige gevolge van 'n globaliserende wereld vereis van leiers om voortdurende veranderinge in die werksplek te bestuur, insluitende 'n globaal veranderende, diverse werkspan. Die vraag wat hierdie navorsingsprojek pobeer beantwoord is wat vereis dit van 'n leier om suksesvol te wees in die besigheidswereld vandag en watter leierseienskappe en gedrag sal so n leier betoon? Dit word beweer dat alhoewel die konteks van leierskap verander het en voortdurend sal verander, het die fundamentele begrip van leierskap dieselfde gebly. 'n Omvattende literatuurstudie in die veld van leierskap sal die standpunte van verskillende skrywers in die vakgebied daarstel om vas te stel wat, volgens die teorie, effektiewe leierskap behels. Vyf leierskap teoriee, wat in die navorser se opinie 'n geredelike oorsig gee van die verskeie leierskapsteoriee, word in groter diepte beskryf en later gebruik as die grondslag waarop 'n baie suksesvolle leier in Suid-Afrika, huidige uitvoerende beampte van Sanlam, Dr. Johan van Zyl se leierskap eienskappe en styl ge-evalueer word. Die kombinasie van die vyf teoriee fokus op leierseienskappe, gedrag, leierskapstyle, en die verhoudingsaspek van leierskap, byvoorbeeld die interaksie tussen die leier en navolgers. Die vyf teoriee sluit die situasionele leierskapteorie, dienende leierskap ('servant leadership'), transformasionele leierskap, vlak vyf leierskap en die teorie van emosionele intelligensie in. 'n Bree oorsig van Sanlam se geskiedenis wat fokus op die maatskappy se transformasie die afgelope paar jaar en bydrae tot breed gebaseerde swart ekonomiese bemagtiging ('broad based black economic empowerment') word ook bespreek en dien as die agtergrond en konteks om Dr. Johan van Zyl se leierskap te evalueer. In Hoofstuk Vier word 'n analise van primere data gedoen. Die data is ingesamel deur vraelyste wat voltooi is deur senior bestuurders van Sanlam asook deur 'n onderhoud met Van Zyl. Die finale hoofstuk beval afleidings i.v.m die leierskapseienskappe en -styl van Van Zyl en sy leierskapsbenadering soos vergelyk met die teoretiese benadering bestudeer. Die navorser is van die opinie dat belangrike lesse geleer kan word vanaf die studie van Van Zyl se leierskaps eienskappe en -styl en dat dit toegepas sal kan word as moderne besigheids beginsels vir leiers. Die bevindinge van die studie het getoon dat Van Zyl eienskappe van die meeste van die leierskapsteoriee wat bestudeer is in die studie betoon. Dit sluit eienskappe in van n situasionele leier, 'n transformasionele leier, n vlak vyf leier en 'n emosionele intelligente leier. Hierdie bevindinge word onderskraag deur die literatuur oor leierskap en die navorser is van die opinie dat hierdie eienskappe hom in n goeie posisie plaas vir die transformasie en strategiese herposisionering van Sanlam.

Assignment (MComm)--University of Stellenbosch, 2002. / ENGLISH ABSTRACT: Sponsorship marketing, as part of the integrated marketing communication programme, is a relatively new field of application. There is still a lack of research in many areas of this field, especially in respect of the measurement of the effectiveness of this communication instrument. Although its roots could be traced back to ancient Greece, substantial growth and development in the field of sponsorship marketing have taken place over the past three decades. More recently the concentration of sponsored events has moved away from sports and has been divided between a number of other areas, notably art and entertainment and also charity events. With the increase in sponsorships, an increase in literary research has also been detected. The analysis of the sponsorship strategy of a German insurance company - Cosmos Direkt - has shown that in practice many companies are still not fully exploiting the potential of their sponsorships. This became even more obvious when it was compared to the approach to sponsorships of some of South Africa's largest insurance companies. The comparison indicated that some of the insurance companies had achieved satisfaction with their sponsorship, while others were still battling to establish the right formula for success. The inconsistency of the success of sponsorships could often be ascribed to a large number of companies being uncertain about sponsorships and reluctant to fully integrate these into their marketing strategies. Sponsorships could only be effective when they are supported by other marketing communication tools, rather than being viewed as a completely separate activity. Sponsorships should be used in synergy with the other communication instruments, so that the company may project a uniform message to its customers and the public. / AFRIKAANSE OPSOMMING: Borgskappe, as deel van 'n geïntegreerde bemarkingskommunikasie, is 'n redelike nuwe veld van aanwending. Navorsing in baie gebiede van hierdie veld is nog uitstaande, veral waar die meting van hierdie kommunikasie-instrument van belang is. Oor die afgelope drie dekades het wesenlike groei en ontwikkelinge op die gebied van borgskappe plaasgevind, alhoewel die oorsprong teruggevolg kan word tot na die antieke Grieke. Meer onlangs het die fokus van geborgde gebeurtenisse wegbeweeg van sport af en is nou meer versprei oor 'n aantal ander gebiede, byvoorbeeld kuns en vermaak, asook liefdadigheidsorganisasies. Met die toename van borgskappe het daar ook 'n toename in literêre navorsing plaasgevind. Die analise van die borgskapstrategie deur 'n Duitse versekeringsmaatskappy - Cosmos Direkt - het aangetoon dat baie maatskappye in die praktyk nog nie die volle potensiaal van hul borgskappe benut nie. Hierdie bevinding is bevestig nadat dit met die benadering tot borgskappe van verskeie Suid-Afrikaanse versekeringsmaatskappye vergelyk is. Die vergelyking het aangetoon dat sommige versekeringsmaatskappye tevredenheid met hulle borgskappe bereik het, terwyl ander nog steeds op soek was na die regte formule vir sukses. Die teenstrydigheid ten opsigte van die sukses van borgskappe is dikwels die gevolg van maatskappye w~t onseker is oor hulle borgskappe en huiwerig is om dit ten volle met hulle bemarkingstrategieë te integreer. Borgskappe kan egter net effektief wees wanneer hulle ondersteun word deur ander bemarkingskommunikasie-instrumente, en nie as iets heeltemal afsonderliks beskou word nie. Borgskappe behoort in sinergie met die ander bemarkingskommunikasie-instrumente gebruik te word sodat 'n maatskappy 'n eenvormige boodskap aan sy klante en die publiek sal stuur.

This study shows that managers of short-term insurers may improve their financial results if they can identify and manage the factors that are critical to their financial results. The development and application of the concept of critical success factors are therefore used as a basis for this study. The study reviews the functions performed by short-term insurers, focusing on the effect these functions have on their cash flows. Selection and pricing of risk are discussed in detail. The underwriting cycle in South Africa, and several possible causes of the cycle are investigated. Reinsurance, claims handling and rilanagement expenses are important components of the cash flows of short-term insurers and are therefore examined in detail. The optimum risk level at various combinations of underwriting and investment income is empirically tested, using the financial results of several insurers. The study investigates different approaches to the measurement of financial success of insurers, and the return on shareholders' funds is found to provide the fairest and most reliable method. Empirical comparisons are made on the financial results of the insurers that participated in the study to distinguish between those that are financially successful and those that are not. To discover what the industry consider to be their critical financial success factors, a postal survey was done of key decision makers in the South African short-term insurance industry. Respondents identified several success factors, but did not include some success factors discovered during the review of the literature. Respondents apparently experienced difficulty in separating strategic issues from operational ones. The survey revealed that the pricing of risk is problematic for short-term insurers. The importance of the investment function is also underestimated by the industry. The study concludes that the combined systematic risk of the investment and underwriting portfolios is a critical success factor, along with the capital base of the insurer, the ability of the insurer to use the leverage provided by using policyholders' funds as free reserves and the size and direction of an insurer's cash flows. / Business Management / D. Com (Business Management)