This year marks the Insurance Institute of South Africa’s (IISA) 50th anniversary since its reformation in 1966.Halfway to becoming a centenarian, this a time to reflect and an occasion to commemorate as the IISA celebrates this milestone.
A brief background
IISA’s roots go back to 1898, when the first Insurance Institute in South Africa was established in Cape Town. Subsequent developments saw further institutes develop in all the main cities in South Africa, all affiliated to the Chartered Insurance Institute (CII) in London.
The institutes initially provided insurance technical learning material for distance learning and testing by examination.
In 1966 the local institutes voted to form a central South African body and the IISA was formed as an affiliate of the CII, with the local institutes in turn, becoming affiliates of the IISA.
In this capacity the IISA has been the custodian of professional standards in the insurance industry, and more recently, in November 2012, have been formally recognised by the South African Qualifications Authority (SAQA).
Central body of knowledge
The IISA is a professional membership institute for the South African insurance industry whose aim it is to promote skills development and professional conduct among members engaged in the insurance industry.
The IISA maintains a central body of knowledge and develops and sustains relationships with local and international insurance institutes and industry bodies. It serves the insurance industry as a whole, with the strongest support originating from the short-term market.
The purpose of the IISA is to offer a central organisation for the promotion of efficiency, progress, welfare, knowledge and general development and advancement among persons in the insurance industry. To promote and assist the study of insurance, exercise control and supervision over the professional standards of the members and to seek to improve the professional status of qualified practitioners.
The AIM is to stay connected, exchange knowledge and to engage on topics and challenges facing the industry.
IISA through the years
In celebration of the IISA’s success and its contribution to promoting skills development and advancement, FAnews interviewed David Harpur, CEO of the IISA, to tell us how the role of the IISA has changed since its inception, to give us the institute’s biggest highlights of the past few years and what the IISA’s future plans are.
Harpur mentioned that any industry that wants to see itself as a profession has to have a professional body that sets standards, works toward educational requirements for people in the industry and is supported by all other industry associations and bodies as the educational provider. “That is the role the IISA has adopted,” he said.
“The Institute has changed considerably since its inception in terms of membership numbers and sponsorship support. We have introduced CPD programmes. We have become a professional registered institute in terms of SAQA, and in November 2012, we became one of the first 40 professional bodies in South Africa. This has added to our status as the IISA being the only professional body for the short-term insurance industry in South Africa. So there have been a lot of milestones along the way,” said Harpur.
“We have developed a lot of courses through universities and colleges. We are currently working with Moonstone and others to launch more study opportunities for students across the country. We have evolved from a small institute that kicked off in Bloemfontein, into quite a substantial institute involving 15 staff members and many, many thousands of qualified insurance professionals,” continued Harpur.
Biggest highlights
In touching upon the biggest highlights over the years, Harpur said one of the biggest steps was when the insurance exams that students wrote were localised to South African requirements.
“We used to write the CII London exam, but it was decided many years back that the exams should be localised. The institute had to create its own course material for study, set its own exams, mark them, adjudicate them and set the right standards. It was a big development which has followed on through with the courses we offer through universities and colleges,” he said.
Another big step, according to Harpur, was the recognition of the IISA as the professional body for the short-term industry that happened in 2012. “It strengthened our activity and growth base.”
Marking one of the highlights on the IISA’s calendar is the insurance conference. The growth of the conference comes in as a third highlight where from small beginnings of 200 to 300 delegates, the conference in 2015 hosted a record attendance in excess of 1 200 attendees from an estimated 402 organisations and 29 countries.
“This is beneficial indeed. This has been a big milestone and it has become an industry event for people to learn and network. In 2016, we are expecting 1 500 delegates at the conference,” continued Harpur.
“The other big highlight has been the growth of our professional membership through qualification and the tremendous support we have had from the market and key players,” he continued.
Looking at the future
Looking at the previous year, this year the IISA is looking at having panel discussions at a greater level at the insurance conference, with some breakaway groups to cater to the various needs of members. Harpur said the conference will need to keep evolving to attract the right people, but there is no doubt that there is massive growth. In terms of how technology is changing the Institute, Harpur said, “We are looking at putting together internet based training opportunities for people to do their CPD. So people can sit with their laptops and listen to lectures, follow talks on specific subjects and earn CDP hours in that way. We have members throughout the country, in Africa and around the world so an internet based delivery will help in meeting the CPD requirements.”
In reflecting on and commemorating this special occasion, FAnews would like to congratulate the IISA on reaching this auspicious milestone and wishes the Institute many more years of success in its contribution to promoting skills development in the South African insurance industry.
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