SAIA Media Release
SAIA successfully launches the third series of its Consumer Education Radio Programme
25 February 2020
Johannesburg – The South African Insurance Association (SAIA) has successfully launched the third series of its Consumer Education Radio Programme which commenced on Tuesday, 18 February 2020.
The programme, which forms a part of the SAIA Consumer Education initiative, aims to equip consumers with awareness of the financial sector, especially the non-life insurance industry products and services while also building consumer financial and risk resilience through addressing the importance of risk and policy management.
Themba Palagangwe, SAIA General Manager: Transformation and Governance Risks says, “SAIA is increasingly shifting its Consumer Education strategy to focus more on creating awareness around the importance of asset protection through the deployment of resilient risk mitigating strategies. Therefore, the intention of the radio programmes is to promote consumers’ understanding of their risk exposure, knowledge about availability of insurance products as risk transferring mechanism and building consumer confidence when engaging with the industry and/or financial sector.”
An increase in climate change occurrences such as wildfires, droughts, storms and floods and lately, the frequent interruptions of electricity supply in the form of load-shedding, presents a potential increase in the consumer’s financial risk exposure, thereby necessitating the need for the consumer to know, understand and exercise risk mitigating practices that would help to safeguard their assets; be it vehicles, home building and/or home contents.”
Therefore, the radio programmes are designed in such a way that it provides the listeners the opportunity to engage with the non-life insurance industry experts on general insurance product knowledge and creating awareness about the industry processes, such as the importance of obtaining the appropriate products for the risks to be covered and adhering to the prescribed processes when engaging with the industry, particularly during claims stage.
The programme will broadcast on three commercial radio stations until 23 July 2020, airing a total of 36 interviews. The interviews will air bi-weekly and last for approximately 30 minutes. Financial sector experts will engage with listeners on content developed on specific financial education related topics and allow listeners to call in with questions.
The broadcast schedule is as follows:
Zanele Gigaba, Transformation Manager at SAIA concluded by saying, “We need to empower consumers to look after their properties to preserve the value and reduce the risk for a loss that could impact them negatively financially. Insurance is not an answer to everything, but it forms part of a wider risk mitigation strategy. Once a consumer has purchased a policy, how do they ensure that it is maintained in such a way that at the time of a claim, the benefits of the policy are realised? It is through knowledge, most of which will be shared through these radio programmes.”
For more information, please contact Kwanele Sibanda, SAIA Corporate Affairs Manager at Kwanele@saia.co.za
SAIA Corporate Affairs
Office: 011 726 5381
About the SAIA
The South African Insurance Association (SAIA) is the representative body of the non-life insurance industry. It represents the industry to all relevant stakeholders to ensure a sustainable and dynamic industry. SAIA has 58 members, comprising all categories of non-life insurers, including reinsurers. Its members abide by the SAIA Code of Conduct, which ensures adherence to best-practice industry standards and self-regulation.
Its vision is to promote and represent the interests of the non-life insurance industry, while leading and enhancing the efforts of the industry to become recognised and trusted as an important contributor to the South African economy and society.