The South African Insurance Association (SAIA) is the representative body of the short-term insurance industry. It represents the industry to all relevant stakeholders, to ensure a sustainable and dynamic short-term insurance industry.
The SAIA represents most of the short-term insurance companies in South Africa and is authorised to negotiate on their behalf. The Association has 59 members, with a Chairman and vice-Chairman elected from its Board. Members of the SAIA abide by the SAIA Code of Conduct and participate in the office of the Ombudsman for Short-term Insurance (OSTI). The SAIA also participates and is represented in various organisations within and outside the insurance industry.
In its quest to fight insurance crime, and especially also insurance fraud, the SAIA was instrumental in establishing the South African Insurance Crime Bureau (SAICB) at the end of 2008. The SAICB is an independent organisation with its own members and close links to the SAIA.
The SAIA also supports the South African Police Services (SAPS) in combating crime, through participation in various Business Against Crime South Africa (BACSA) initiatives. The SAIA donates a significant amount of money to BACSA on an annual basis to further specifically identified relevant initiatives.
The SAIA contributes to projects aimed at increasing road safety in South Africa and supports the Johannesburg Metro Police Department (JMPD) by implementing initiatives to improve road safety in partnership with BACSA.
The SAIA's key priority areas are:
- Transformation and Governance Risks
- Insurance Risks
- Stakeholder Relations and Communication
The core functions of the SAIA are:
- The representation of its members' interests to the public in a proactive manner
- The representation of its members' interests to government at all levels, as well as to other relevant bodies
- The representation of its members' interest to the media
- The provision of a forum for discussion of common interests in the short-term insurance industry
- The facilitation of information flow among its members
- Interaction with all associations operating within the insurance industry, both locally and abroad
- Interaction with all relevant organisations and entities especially in the key priority areas
- The setting of appropriate technical standards for the industry
History of SAIA:
The SAIA's roots go back to the early part of this century, with the Council of Fire Insurance Companies being formed in 1907. The SAIA was formed in 1973. This trade association celebrated its centenary in 2007 for serving the South African short-term insurance industry, albeit in different guises, for over a 100 years.