Transformation
Advancing access, equity, and empowerment through industry-wide transformation initiatives.
The South African Insurance Association (SAIA) is committed to providing strategic leadership and driving transformation within the non-life insurance industry.
Our transformation agenda aims to align the industry with national priorities, promoting diversity, equity, and inclusion across both the insurance sector and broader society.
Industry Impact and Key Initiatives
Guided by the Financial Sector Code (FSC), as adopted from the Financial Sector Transformation Council (FSTC), SAIA fulfils this mandate by:
Facilitating meaningful engagement with internal and external stakeholders,
Coordinating industry positions on relevant legislative frameworks,
Representing the industry on key forums and committees, and
Developing and implementing industry-specific transformation frameworks, where applicable.
In delivering this mandate, SAIA has adopted a transformation framework that places industry products and services at the core of its efforts.
The SAIA transformation agenda is driven under the following Priority Focus Areas.
1. Transformation Data Collation
This initiative aims to establish a consistent and reliable process for reporting transformation data. SAIA members are requested to submit relevant data to enable industry-wide analysis and reporting in the following areas:
- Preferential Procurement: Since 2017, SAIA has monitored industry performance in the inclusion of Black- and Black-women-owned service providers within claims-related procurement. This data also supports the identification of Enterprise and Supplier Development (ESD) opportunities.
- Employment Equity and Management Control: This project tracks industry progress in building an inclusive workforce. Designated employers are required to submit their Employment Equity (EE) reports, enabling SAIA to align industry performance with national EE targets as set out by the Department of Employment and Labour.
2. Financial Sector Code
The SAIA Board recognises full industry participation in the FSC as a critical priority.
Key activities include:
- Active involvement in the review and alignment of the FSC with industry goals,
- Encouragement of members to obtain and submit B-BBEE compliance certificates to the FSTC,
- Promotion of transformation through Preferential Procurement and ESD, and
- Support for Financial Inclusion through improved access to financial products and consumer education.
3. Industry Skills
Skills development is vital for the long-term sustainability and transformation of the non-life insurance sector. Given the challenges of an aging workforce, SAIA has identified talent development as a key strategic imperative.
Through partnerships with stakeholders such as INSETA, initiatives like the Retiree Repurpose Programme have been launched to develop, retain, and repurpose skills in response to the evolving needs of the industry.
Governing Structure
The transformation agenda is governed and overseen through SAIA’s internal governance structures, with strategic direction provided by the SAIA Board and operational coordination led by relevant working groups and committees.
Industry Initiatives
SAIA supports a range of transformation-aligned initiatives that extend beyond internal policy compliance. These include industry-focused frameworks to strengthen enterprise and supplier development, as well as consumer-facing efforts to improve financial literacy and access. The following programmes highlight SAIA’s commitment to practical, measurable transformation outcomes.
Preferential Procurement and Enterprise & Supplier Development (PP&ESD)
PP&ESD is one of the most impactful elements of the FSC, where the industry can make meaningful contributions to transformation.
Key initiatives include:
- Development of the Treating Suppliers Fairly framework (Annexure 1 of the SAIA Code of Conduct),
- Establishment of the Motor Body Repairers (MBR) Grading Standard, and
- Endorsement of external frameworks such as:
- The Competition Commission’s Guidelines on the Transformation of the SA Automotive Aftermarket, and
- The Practice Note on Supplier Panels for Banks and Insurers.
Financial Inclusion
SAIA is actively engaged in promoting financial inclusion through coordinated industry efforts and participation in relevant external platforms.
Key initiatives include:
- The Consumer Financial Education Programme, running since 2004, which continues to evolve to address emerging financial literacy needs.
- Engagement in national initiatives such as FinMark Trust’s FinScope survey and Money Smart Week South Africa, to extend financial awareness and accessibility.