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/span>
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 non-life 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 non-life insurance industry, albeit in different guises, for over a 100 years.