Ensuring the sustainability of a business model

Ensuring the sustainability of a business model

Following the second elimination, in which Reese Aron was dismissed from The Insurance Apprentice 2019 and Palesa Mochane came forward as the apprentice holding the immunity card, emotions run high as the last six get closer to the finish line.

Episode four, task four, sponsored by Sasria SOC Limited, shines a spotlight on the apprentices as they are challenged with the task of coming up with innovative ideas to ensure the sustainability of the Sasria business model. Make sure you read the full article on www.FAnews.co.za on what their innovative ideas should have entailed.

The judges for this task were Judge Simon Colman, Executive Head: Digital Distribution at SHA Specialist Underwriters - aka Judge Dread, joined by Kedi Maponyane, Managing Director at African Independent Brokers and guest Judge Fareedah Benjamin, Executive Manager: Insurance Operations at Sasria.

Thank you Sasria SOC Limited for sponsoring the fourth episode of The Insurance Apprentice 2019.

Task four #sustainability

Established in 1979, Sasria's business model has been designed to keep premiums affordable and accessible. Given the current business model, the apprentices were asked what they would do differently to ensure the sustainability of the business going forward.

They were tasked to consider the financial viability, premium growth, business retention, marketing, distribution, reinsurance and investment options and had to keep Sasria's relevance to the insurance industry and its value to the shareholder in mind.

What innovative ideas were Sasria SOC Limited really looking for? Read the full article to find out on www.FAnews.co.za under the CPD tab.

Earn CPD hours

Earn Continuing Professional Development (CPD) hours for every episode you watch. Each episode plus an article about the episode will carry 1 CPD hour. Simply:

1. Visit www.fanews.co.za;
2. Click on the CPD tab;
3. Register by filling in your personal details;
4. Confirm your log-in details via email once you have registered;
5. Log-in using your email and password;
6. Click on The Insurance Apprentice tab and go to the episode you wish to complete; read the article and
7. Answer the multiple-choice questions related to each episode listed and click submit.

The #Superfan competition
For every episode of The Insurance Apprentice, we have a question. Answer the SuperFan question, up to episode seven, to stand a chance to win R20 000, sponsored by Constantia Insurance. Simply visit www.theinsuranceapprentice.com and answer the question in the chat box bottom right of the screen.

Superfan question

In which year was Sasria SOC Ltd established?

• 1976
• 2000
• 1979

Winner and runner up prizes

The winner of The Insurance Apprentice wins a trip to Lloyds of London, a R75 000 bursary from Inseta, a cash prize of R20 000 from GIFS, dinner in London to the value of R5 000 sponsored by Hogan Lovells, an Apple watch sponsored by Genasys Technologies and also R15 000 from Hollard. Thank you AIE conference organisers for sponsoring the winner of The Insurance Apprentice to go to the African Insurance Exchange at Sun City in July.

The runner up wins R10 000, sponsored by Tracker and a bursary from GIFS worth R27 500. Third place will also receive a bursary from GIFS worth R27 500.

Each of the eight apprentices will also receive a book 'Everything you need to know about non-life insurance in South Africa', written and sponsored by Gareth Stokes and Liz Still and motivational/business books sponsored by Insure Group.