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Risk Benefits Solutions achieves level one BBBEE accreditation

17 October 2022 Andrew Friedmann, Head of Sales and Marketing at Risk Benefits Solutions

RBS is proud to recently become a level one BBBEE contributor and leading black-owned national brokerage. As a short-term insurance broker, we have access to a range of insurers and provide our clients with the most competitive cover and knowledge available.

This BBBEE accreditation gives our clients the assurance that they are dealing with a company that is leading the change to transformation of the financial sector in South Africa.

We believe that transformation in the financial services sector is essential, and our ongoing focus is on developing skills, job creation creating opportunities through our academy to grow people in the insurance sector. It is our belief, that we need to lead the change to make a fundamental shift and a difference in South Africa.

Just as important is the benefit to our clients and the commercial market as a whole. South African businesses now have a locally owned brokerage providing them with the broad-based BEE procurement recognition level they require. This means that money spent on insurance can help a company increase their own BEE score and dealing with a level 1 business translates to 135% procurement recognition.

The BBBEE scorecard

Level 1 - 100 points and above - 135% procurement
Level 2 - 85 to 99.99 points - 125% procurement
Level 3 - 75 to 84.99 points - 110% procurement
Level 4 - 65 to 74.99 points - 100% procurement. This level is considered to be BEE fully compliant.
Level 5 - 55 to 64.99 - 80% procurement
Level 6 - 45 to 54.99 - 60% procurement
Level 7 - 40 to 44.99 - 50% procurement
Level 8 - 30 to 39.99 - 10%

But at RBS, we don't want the focus to be simply on our BBBEE score but, rather, on the interplay between our level of Black ownership, BBBEE score, and commercial attractiveness. It’s this powerful combination that sets us apart from our competitors. That's why RBS is committed to providing our clients with the highest levels of service and support. We have a professional team of commercial and corporate experts who can provide an entrepreneurial approach to risk management. This, together with our national footprint, makes us the ideal partner for businesses seeking to manage their risk.

We would like to thank our employees, clients, and service providers for their unwavering support – together, we can make a real difference in South Africa. Talk to us today if you're looking for a short-term insurance solution. You can be certain that you're dealing with a company committed to transforming and making a difference.

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