What’s Next — Oneplan CEO Michael Otten unpacks the newest trends in the insurance industry
In this What’s Next with Aki Anastasiou interview, Michael Otten discusses Oneplan’s position in the South African insurance market and the key trends in the industry worth keeping an eye on.
Otten is the CEO of Oneplan and is a veteran in the insurance industry, having served in this role for over 15 years.
Along with working as the CEO of Oneplan Insurance for a decade and a half, Otten also serves as the Managing Director for Oneplan Health Insurance.
He has held this role since 2009, and was also instrumental in developing Onecard, a revolutionary service that offers unique and innovative solutions tailored for emerging markets.
Otten first entered the industry in 2005 as a Director at Hunta Properties, a role he has also retained to this day.
He is a strong advocate for bringing effective solutions to Oneplan customers and has played a key role in Oneplan’s success in South Africa.
Otten holds a Bachelor of Commerce, specialising in Finance, from the Rand Afrikaans University (RAU).
The interview
In this What’s Next interview, Otten discusses how the insurance industry has changed since he became Oneplan’s CEO in 2010.
Otten explains how Oneplan has refined its offerings accordingly to differentiate itself from the competition.
He shares which Oneplan products have seen the biggest growth in recent times, before explaining the difference between Medical Aid, Health Insurance, and Gap Cover — noting why a South African might pick each.
Otten also touches on how most South Africans see insurance as a grudge purchase and the measures Oneplan is taking to alter this perception.
He concludes the interview by outlining the big trends and innovations he’s watching in the insurance industry.
Watch the interview with Michael Otten below.
Oneplan is sold by Oneplan Brokers (Pty) Ltd and administered by Oneplan Underwriting Managers (Pty) Ltd, authorised financial services providers FSP43627 and FSP43628. Oneplan is not a benefit option regulated by the Medical Schemes Act, but a short-term insurance product underwritten by Bryte Insurance Company Limited a licensed insurer and an authorised FSP(17703).
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