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Insurance Directors are developing their skills at the first IISA Insurance Director Development course

11 October 2019 IISA

The Insurance Institute of South Africa (IISA) in partnership with the Insurance Sector Education and Training Authority (INSETA) has launched its inaugural Insurance Director Development Programme.

This is in line with the Institute’s insurance development strategy for the year, says IISA CEO Thokozile Mahlangu. The programme, delivered by the Institute of Directors in Southern Africa (IoDSA) commenced on October 1, 2019 in Sandton.

“The industry is faced with a shortage of skills at executive management and director level, and as the professional body in the insurance industry, we are responsible for ensuring that the industry has avenues where these challenges can be addressed,” says Mahlangu.

The aim of the programme is to develop directorship skills for insurance practitioners who are at executive management level in order to create a pool of skilled directors within the industry.

The IISA’s purpose is to build capacity within the insurance industry through insurance skills development and exposure into the insurance profession and in so doing improve opportunities for employment and social security among other things, and ultimately contribute to the sustainability of the insurance industry and the economy of the country.

“We are also sticking to our mandate by contributing towards mitigating the risk of skills shortage at this level and ensuring relevant skills development in the sector,” she says.

The six-week course contributes towards Continuing Professional Development (CPD) and as such attendees will be allocated CPD hours accordingly. Candidates must have five to 10 years’ experience in the financial services sector and at least three to five of those years as an executive manager in order to qualify for the course.

The directors cover topics such as corporate governance; ethics, strategy, performance and integrated reporting; risk, compliance, technology and information assurance; effectiveness and adding value; IT governance; and reinsurance management.

“This is only one of the few courses we are rolling out together with INSETA for the development of the industry. Other courses will focus on developing insurance practitioners and executive management. We cannot wait to see the impact of the investment we have made on the industry and in the day-to-day work lives of the individuals who have given their time to develop professionally,” says Mahlangu.

Quick Polls

QUESTION

No developing economy has ever built a single-payer complementary NHI equivalent covering the entire population. NHI promises comprehensive care but it is also 100% free at the point-of-service. Is this practical?

ANSWER

It is doable but collaboration is key
South Africa is not in a position to build NHI
The only conclusion possible is that the private healthcare sector is not going to disappear or change
There is little chance that the NHI will be able to receive significant government funding
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