• Sharebar
Taxation
Thursday, March 1, 2012
Key for job creation

In order to tackle South Africa’s key job creation and youth unemployment challenges, as outlined in the 2012 Budget Speech, more needs to be done by prominent insurance providers to assist with skills development in the country’s fast-growing short-term insurance sector, says Lion of Africa Insurance CEO, Adam Samie. “The insurance sector needs to review its approach to creating accessible in-house training programmes, not only to meet key transformation goals, but also to address the massive skills shortage that exists in the short-term insurance space.”


He says that many insurers currently bemoan the standard of education and graduates entering the workplace, but do very little to improve skills internally.
He says the Insurance Institute of South Africa should also play a more activist role in educating and informing insurance industry players about key transformation targets and available programmes. “Skills development goes hand in hand with transformation, which is crucial for the evolution of South Africa’s financial services sector.
“This is not about mere compliance, but about contributing to the development of the previously disadvantaged people in our society to ensure South Africa can ultimately achieve its economic goals on a sustainable basis to the benefit of all.” He adds that true empowerment, fostered by skills development, will also aid South Africa’s market share in Africa, particularly in the short-term insurance sector, which while small in global terms, is the largest segment by far on the continent.
 

Copyright © Insurance Times and Investments® Vol:25.3 1st March, 2012
466 views, page last viewed on September 10, 2019