South African Insurance Association

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Transformation Update

Access Standards

The SAIA Board has approved the Access Standards and submitted them to the Financial Sector Charter Council for approval. The Council has suggested that if the National Treasury (NT) and the Community Constituency of the Financial Sector Council approve the Standards, this would be accepted by the other constituencies. SAIA is currently in discussion with both NT and the Financial Services Board on the Standards. 

Financial Sector Code

Comments on the draft Amended Financial Sector Code (FSC) have been received. The amended FSC was sent to the Minister of Finance on 22 August 2016 for submission to the Department of Trade and Industry (DTI) for gazetting. It is expected that the FSC will be gazetted in September for immediate implementation.

Consumer Education:

Next of Next Week TV Series 
Filming of the six Next of Next Week (NONW) episodes have been completed, with all episodes being subtitled in English. At the end of each episode is a short-segment highlighting the insurance lessons that were covered. These insurance inserts will be provided as a separate stand-alone video that can be used for additional screening purposes.

Industrial Theatre
Twenty-eight live shows have been completed with a audience reach of approximately 43,000. There was a good audience turn-out in most provinces and crowd participation was encouraged through questions on short- term insurance and free prizes.

For more information contact Leila Moond on