In this Business Talk with Michael Avery interview, Yuresh Maharaj discusses how the insurance industry is evolving with a new focus on education, financial literacy, and AI integration.<\/p>\n\n\n\n
Maharaj is the CEO of Standard Bank Insurance and Asset Management (IAM) and an accomplished financial executive with considerable experience across accounting, auditing, and insurance.<\/p>\n\n\n\n
He began his career working at Deloitte and Touche in 2005 as a trainee accountant and worked his way up to Audit Manager and then Partner over almost 11 years.<\/p>\n\n\n\n
Maharaj then moved to Liberty Group Africa, where he began as the Executive for Group Finance before later being promoted to Financial Director and then Group Chief Executive.<\/p>\n\n\n\n
In 2023, he took on his current role at Standard Bank IAM.<\/p>\n\n\n\n
Throughout his career, he has worked with many major clients in the insurance and banking sectors, including Hollard Insurance Group, Liberty Group, Lombard Insurance Group, and Regent Insurance Group.<\/p>\n\n\n\n
He has also won various achievements, such as the Chief Executive Excellence Award at the 2009 Annual Deloitte South African conference for outstanding client service, and the Special Recognition Award at the 2012 Deloitte Leadership Summit for the revenue growth achieved in the insurance service line.<\/p>\n\n\n\n
Maharaj holds a Bachelor of Commerce degree and a Post Graduate Diploma in Accounting from the University of Natal, and is a registered Chartered Accountant (South Africa).<\/p>\n\n\n\n
In this Business Talk interview, Maharaj explains why the insurance industry is evolving rapidly and comments on whether the insurance sector needs to reimagine its role to meet rising inequality, political tension, and extreme financial stress.<\/p>\n\n\n\n
He outlines the level of interest in South Africa for improving financial literacy and how, as the insurance and asset management cluster for the biggest bank in Africa, Standard Bank IAM supports its customers.<\/p>\n\n\n\n
Maharaj also notes how the insurance sector is evolving on the rest of the continent, and explains how Standard Bank IAM is considering using AI and automation to deliver increased value to clients.<\/p>\n\n\n\n
He concludes the interview by unpacking how Standard Bank IAB uses education to empower its clients across African markets.<\/p>\n\n\n\n
You can watch the interview with Yuresh Maharaj below.<\/p>\n\n\n\n