In a bid to address the pressing issue of unemployment and skill development in South Africa, the Insurance Institute of South Africa (IISA) launched the Youth Accelerator Programme on November 15, 2023. This innovative initiative is designed to empower unemployed learners with both theoretical knowledge and practical experience in technical insurance skills, ultimately enhancing their employability prospects.

The selection process for participants in the programme follows a meticulous and structured approach. Those chosen will undergo a comprehensive training program that includes theoretical insights and hands-on experience. To facilitate this, participating learners will be placed within various companies, a move that has garnered a positive response from several corporate partners willing to host these learners for a duration of twelve months.

As a noteworthy gesture, Sasria has extended an invitation to host a few learners, with the timeframe tailored to accommodate Sasria's practical constraints. This collaborative effort is a testament to the commitment of various stakeholders to contribute towards addressing the unemployment challenge in South Africa.

The Accelerator Programme aims to address the five critical competency requirements mandated by the Financial Sector Conduct Authority (FSCA). Additionally, it incorporates digital literacy competencies, reflecting the industry's evolving landscape.

Upon successful completion of the programme, graduates will attain the FAIS Qualification: National Certificate in Short Term Insurance Level 5. Furthermore, they will be honoured with the prestigious Licentiate of the Insurance Institute of South Africa Designation, marking a significant milestone in their professional journey.

The training curriculum encompasses Product Specific Training, Class of Business Training, and RE5 Training, providing participants with a well-rounded education that aligns with industry standards and regulatory requirements.

In recognition of the transformative impact of digital technologies on the insurance sector, the programme also offers graduates the opportunity to obtain the Certificate in Digital Insurance. This globally recognized certification is the world's first 100% online qualification in Digital Insurance and is offered in collaboration with TDI Academy.

We want to extend our thanks to our sponsors—Absa Group, Sasria SOC Limited, GENRIC Insurance Company Ltd, and our strategic partner, the Graduate Institute of Financial Sciences—for their invaluable support, which has played a crucial role in bringing this initiative to fruition.

Overall, the IISA 2023/24 Accelerator Programme presents an invaluable opportunity for graduates to gain exposure to the dynamic and evolving insurance industry. Beyond individual career advancement, this initiative serves as a commendable effort to combat unemployment in the country, contributing to the broader socio-economic development of South Africa. Through strategic partnerships and a holistic approach to skill development, the programme not only equips learners for success in the insurance sector but also plays a pivotal role in fostering a more robust and resilient workforce for the future.

Exciting News! The 2nd Cohort of our Youth Accelerator Programme is set to launch in April 2024. Join hands with IISA in bridging the gap and professionalizing the industry. Become a sponsor or host - Send an email to Tumisang Moduke, IISA Chief Revenue Officer, at tumisang@iisa.co.za . Let's empower the future together.