History of the IISA

Formation of the Insurance Institute

The IISA traces its roots back to 1898 which was later renamed to the Insurance Institute of the Cape of Good Hope. It was agreed that the intentions of the institute are:

  • Form a library for the use of members;
  • Reading and discussion of original papers;
  • Encourage the younger members of the institute to a deeper study of insurance matters;
  • Watching of legislation affecting insurance in South Africa;
  • Raise the tone of the insurance profession in South Africa.

Following the evolution in the insurance education environment, it was agreed in 1966 to form a national central body to take over the educational responsibilities within the industry. This led to the formation of the Insurance Institute of South Africa. At formation the local institutes were members of the IISA. The IISA acted on behalf of the Charted Insurance Institute of London (CII) in the registration of examination students in Southern Africa.

Key highlights
1971
College of Insurance Feasibility Study
The IISA investigated all forms of further educational facilities including the feasibility of establishing a College of Insurance.
   
1974
College of Insurance Formed
A College of Insurance was formed as part of the IISA. The college operated exclusively in Johannesburg from 1974, it expanded to Cape Town in 1977. The courses offered within the college of insurance followed the CII curriculum with localisation of some of the courses such as the law related courses.
1990
CII restructures syllabus
CII restructured its syllabus, the proposed changes had far reaching financial implications on the IISA as the new material would have to be localised and translated into Afrikaans.
1991
IISA & CII broke ties
IISA broke ties with the CII study material and domesticated the South African Institute.
   
1994
Regulatory Changes
Regulatory changes introduced in 1994 precluded institutions like the IISA from offering tuition, this function was handed over to higher learning institutions.
The College could not continue operating in its current format and it had to be separated from the Institute as the Institute could not provide educational services as well as qualifications leading to recognition of Associateship and Fellowship.
2006
College Transfered to UNISA
The College was transferred to UNISA in 2006.
The regulatory environment directed the IISA to becoming a professional body responsible for awarding professional designations to deserving individuals who comply with the personal standards and academic qualifications and skills determined by the Institute.
2012
Professional body for the short term insurance industry
IISA became the only professional body for the short term insurance industry approved by the South African Qualifications Authority and was required to have a continuous professional development programme (CPD).
The IISA was no longer a provider of insurance education.
The future   
Today the IISA remains the premier knowledge and standards hub for short-term insurance industry professional. The IISA maintains close links with local and international organisations with a similar mandate to ensure that the membership and other affiliates keep abreast of the latest developments in the sector from around the world.

The purpose of the IISA has been reviewed to focus on building capacity within the insurance industry through insurance skills development & exposure into insurance as a profession, thereby mitigating skills shortage, improving opportunities for employment & social security thus making a sustainable contribution to the insurance industry and the economy.

The primary responsibilities of the institute to its members and the industry in general is to provide and maintain a central organisation for the promotion of efficiency, progress, knowledge, educational and skills development, welfare and the general good and development among persons engaged or employed in the insurance industry, whether Members or not and to set and communicate standards regarding professionalism and to achieve an image and reputation of excellence. Furthermore, the institute confers the status of Institute membership upon approved persons who comply with the personal standards and academic qualifications and skills determined by the Institute.

Become a professional member

JOIN IISA
Come Visit Us

Ground Floor, Block B,
Investment Place,
10th Road Off 2nd Road,
Hyde Park

Get Directions
Contact IISA

Phone: 0861 00 IISA (0861 00 4472)
International: +27(0)11 341 9480

Fax: 0861 00 IISA (0861 00 4472)
International: +27(0)11 325 0606

Email: communications@iisa.co.za
Office Hours

Monday - Friday: 8 AM - 4:30 PM

Saturday - Sunday: Closed

The Insurance Institute of South Africa

Sign up to receive our free newsletter