Opinion: The dilemma of insuring EVs

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The discussion around EV insurance often centres on costs, risks and repair logistics, but the real challenge lies in underwriting accuracy, says Thabo Manamela, Head of Quality and Knowledge Management at South African insurer Santam. While EVs are seen as lower-risk compared to fuel cars, insurers still lack sufficient claims to price them differently.

• Mr Manamela has served at Santam for over 16 years, currently leading claims compliance, governance, and technical training. He has held key management roles in knowledge and policy development.

• The rise of EVs presents an emerging risk factor for insurers, particularly in assessing parts availability and specialised repair needs. As the technology remains new to the local market, the focus is on ensuring that EV risks are properly reflected in underwriting and pricing models, says Mr Manamela.

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