SAIA

South African Insurance Association

+27 11 726 5381

SAIA Bulletin July 2015

TRANSFORMATION AND GOVERNANCE RISKS

1.1 Retail Distribution Review (“RDR”)

The Financial Services Board (“FSB”) has invited key stakeholders to participate in working groups to do further work on developing final legislative and regulatory changes following its consideration of the Retail Distribution Review (“RDR”) comments.

The FSB has received approximately sixty five (65) formal submissions and has indicated that within its framework, the RDR forms part of the market conduct strategy framework. As a result, industry associations have been invited to nominate representatives to be part of the six RDR Work Groups that will deal with the different aspects of the RDR comments and consider further developments.

The Work Groups are as follows:

  • Long term risk;
  • hort term insurance;
  • Low income market;
  • Sales execution and other Intermediary services;
  • Investments; and
  • Adviser categorisation.

The SAIA requested nominations from its members for the relevant short-term insurance work groups. The work groups commenced on 22 July 2015, being Adviser categorisation, to be followed by Sales execution and other Intermediary services on 31 July 2015 and Short-term insurance on 6 August 2015.

The SAIA and other industry associations have been requested to present on the relevant proposals in each work group in relation to the comments submitted to the FSB in the SAIA’s submission.

The SAIA will send a representative to participate in the work groups and will communicate with the SAIA RDR Work Group and the SAIA Legal and Compliance Committee members electronically regarding developments.

For more information contact Easvarie Naidoo (easvarie@saia.co.za)

1.2 SAIA Consumer Education

Season Two of the popular Next of Next Week edutainment comedy series kicks off on 6 August 2015 on eTV. The series will be broadcast every Thursday at 5:25pm with repeats on Saturdays. The 13 episode comedy series has also been extended from three minutes to five due to its popularity with viewers. Next of Next Week (a colloquial term used in the townships to refer to procrastination) is centred around two characters, Innocent and Kanana who use comedic elements to educate audiences on the value of short-term insurance and basic principles of financial management such as budgeting and saving.

1.3 Financial Sector Code

The Financial Sector Charter Council has not yet finalised the alignment process of the Financial Sector Code to the Dti Codes of Good Practice on Broad-Based Black Economic Empowerment. The issue around ownership is still being negotiated with the Association of Black Securities and Investment Professionals (ABSIP). The FSC Council hopes to have the draft FSC out for public comment at the end of October 2015.

For more information contact Leila Moonda (Leila@saia.co.za)

2 STAKEHOLDER RELATIONS AND COMMUNICATION

2.1 New SAIA Board Members

The SAIA is pleased to announce the election of four new members to the SAIA Board following the Association’s Annual General Meeting (AGM) on 23 July 2015. The new board members are Gary Jack, Managing Executive: ACE Insurance Limited; Johan van Greuning, Managing Director: Standard Insurance Limited; John Ngulube, CEO: Munich Reinsurance Company of Africa Limited and Brad Hogan, CEO Oakhurst Insurance Company Limited. We congratulate all elected directors and appreciate their willingness to serve on the SAIA Board until the next AGM.

2.2 The SAIA congratulates new IISA President

The SAIA congratulates Delphine Maϊdou on her appointment as the president of the Insurance Institute of South Africa (IISA). The appointment was announced at the 42nd insurance conference held at Sun City at the end of July. Maϊdou who is the Chief Executive Officer for Allianz Global Corporate and Specialty (ACGS) is the 44th president of the institute and the first black woman president in the organisation’s history. We wish Delphine all the success in her tenure as the IISA president.

For more information contact Lelo Ntshalintshali (Lelo@saia.co.za)

3 SAIA VACANCIES

The South African Insurance Association (SAIA) invites applicants to join their team in one of the following available positions:

3.1 Programme Manager: Legal Projects

Job Purpose

To provide leadership, input and support to the SAIA, its members, the Financial Services Board and National Treasury regarding the legislative landscape of the short-term insurance industry through the use of professional knowledge and skills.
Education and experience:

  • LLB Degree / BCom Law (critical)
  • Short-term insurance industry experience, with at least five years working experience in a management role, in particular in a legal and/ or compliance role (critical)
  • Drafting skills(critical)
  • Report writing skills (critical)
  • Excellent command of the English Language (written and verbal)
  • Presentation skills
  • Time Management
  • Project Management
  • Computer Literacy (Word, Excel, Outlook, PowerPoint)

3.2 Personal Assistant: Stakeholder Relations and Communication

Job Purpose

To provide support to the General Manager Stakeholder Relations and Communication by delivering on duties and responsibilities professionally, keeping to timeframes and adhering to the SAIA standard operating procedures.
Education and experience:

  • Minimum qualification: Grade 12 + Secretarial Diploma or Certificate
  • Excellent command of the English Language (written and verbal)
  • 5 Years Personal Assistant Experience
  • Computer Literacy: Knowledge of MS Word, MS Outlook, Excel
  • Minute taking (accurate typing and framework management)
  • Strong admin skills
  • Excellent planning, time management and goal orientated

Applications must reach SAIA by no later than 16:00 07 August 2015.

Send your cv with a cover page for the attention of Nicol Champaud hr@saia.co.za or fax 086 647 2275.

IMPORTANT NOTICE

For more information about this bulletin and its content contact;

Lelo Ntshalintshali, SAIA General Manager: Stakeholder Relations and Communication.

  • E-mail: lelo@saia.co.za
  • Tel: (011) 726 5381
  • Fax: 086 647 2275

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