Prorisk Pooling Scheme Administrators (Pty) Ltd - Durbanville

A Company that specialises in providing Risk Cover to the Retirement Fund and Long Term Insurance Industry, who have established risk pools with 5 underwriters, providing efficient and focused administration support to Brokers and clients alike.

Over the years, the Employee Benefits Industry has focused on Retirement Fund Administration and Investments.
ProRisk has identified a deficiency in respect of effective forward management and financial control with the management of funds’ risk benefits.

Most intermediaries perform regular re-broking exercises on the costs of risk related benefits, to ensure that the rates being charged for the cover are in line with market trends. Where cover is placed with the Underwriters into their General Risk Pools, increases in risk benefit costs  

Show more

become inevitable, arising mainly from the increasing incidence of HIV/AIDS and the resultant acceleration in overall claims experience.

ProRisk having identified this deficiency, our aim is to minimise these risks by selecting good risk profile clients and placing them into risk pools which have their own rating basis, underwritten by reputable Underwriters like Capital Alliance, Metropolitan Hollard etc, whom are backed by their own Reinsurance Treaties with Companies like Swiss Re etc.
The Underwriters supporting these Risk Pools have negotiated separate specific re-insurance treaties, further limiting the risk linked to their general insurance pool. Underwriters unfortunately do not have the same freedom of selection with their own client base so they sometimes have to accept "poor" risks as far as demographics, industry and client is concerned.