South African Insurance Association

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From the desk of the CEO- June 2017

If the National Development Plan’s (NDP) promotion of economic growth and greater financial inclusivity is to be realised, then the ideology of economic transformation must be implemented.

In support of our government’s long-term vision to transform our economy and eradicate the triple challenges of poverty, inequality and unemployment, the SAIA held its inaugural Indaba on 10 May 2017 to discuss with our stakeholders how to support the NDP objectives.

Themed ‘Supporting the NDP through the Short-Term Insurance Industry’, we believe that through our discussions we made considerable inroads in highlighting the need and importance of a collaborative approach to economic transformation. However, to make a significant impact on inclusive economic transformation this type of concerted effort is needed from all South Africans, including business, labour and civil society. It is essential that we all work together to deliver on these objectives.

We thank our panel speakers, SAIA members and other stakeholders who took the time to participate in this event. The feedback was largely positive and we believe that the 2018 equivalent will be even more successful.

Looking ahead, the SAIA Board has identified six Transformation Priority Areas to address and change the current landscape in keeping with the enabling milestones of the NDP, to be addressed by SAIA Board workstreams. These include procurement and enterprise development for black SMEs, positioning the legitimacy of the short-term industry, involvement in local infrastructure, skills development and employment, senior management transformation, ownership and financial inclusion.

On a sad note, SAIA lost a friend and colleague, Leila Moonda, who passed away on 18 May 2017. Leila was the General Manager for Governance and Transformation at the SAIA, and she will be remembered for the value she added to the SAIA team and industry.