MEMBERSHIP

Joining IISA can yield many great benefits for insurance professionals and companies.

Insurance professionals who are seeking to advance their careers and to gain a good standing within the industry, should definitely consider being accredited by a reputable industry professional body, such as the Insurance Institute of South Africa (IISA).

This is according to IISA CEO Thokozile Mahlangu, who notes that the institute is a professional body, recognised by the South African Qualifications Authority (SAQA), that certifies insurance professionals and provides relevant platforms and programmes that contribute to the mitigation of the skills dearth in the insurance industry and the financial services sector.

“IISA is the only professional body in South Africa in the life and non-life insurance industry. We provide accreditation for insurance professionals after they have completed their insurance qualifications or through the recognition of wealth of experience in insurance.” she says.

“Professional designations give one good standing within the insurance industry. It shows that you have qualifications and experience, and that you have met the professional standards that are approved by IISA.” Mahlangu adds that one of the benefits of obtaining specific insurance designations is that an insurance professional can demonstrate a high level of expertise and accomplishment in the profession, it sets one’s apart from the rest and indicates commitment to continuous professional development.

“There are variety of different types of insurance certifications and each one comes with a different set requirement for obtaining the accreditation.

Regardless of which insurance certification you choose to pursue, you will ultimately have to show mastery of that particular subject matter.”

Insurance professionals, she points out, would do well to remember that in the current competitive insurance landscape, career advancement requires evident effort, so being associated with a reputable industry, that exists for the upskilling and professionalisation of the sector, will go a long way towards opening doors for those seeking to climb the corporate ladder.

“Increasingly, employers are looking for self-starters, individuals who can self-manage and self-develop. They are looking for people who can take advantage of the resources at their disposal within their spaces of work and their industries. There has never been a better time for the ambitious and determined insurance professional to associate with a professional body such as the IISA,” says Mahlangu.

“There is no doubt that employers value professionals with membership to professional associations, as this proves you are serious about your professional development. It shows that you do not see your career as just a job but have long term investment aspirations.”

She adds that the benefits of belonging to IISA are numerous. Over and above the association with a reputable professional body, it also opens doors to networking and training opportunities with likeminded individuals, among others.

Mahlangu says the current unemployment crisis in the country should additionally serve as motivation for insurance professionals to set themselves apart and leverage whatever means are at their disposal to gain a competitive edge over their peers.

The IISA offers the following types of designation/ certification:

• Licentiateship: A Licentiate is a practicing professional who is capable of identifying clients’ needs through a comprehensive risk analysis process and, with a general view, is capable of understanding and applying the principles of the practice of insurance or analyse and review the applied principles of insurance or provide advice or guidance on insurance solutions. To qualify, an applicant must have practised within the insurance industry or financial services or related sector for at least one year and be employed within the insurance industry or related sector.

• Associateship: An Associate is a practicing professional who is capable of identifying clients’ needs through a comprehensive risk analysis process, within a specialist insurance environment and is capable of developing, conducting an analysis of the practice of insurance or provide guidance or an opinion on the practice of insurance or provide advice on insurance related solutions. To qualify, an applicant must have at least three years’ experience within the insurance industry, financial services, or related sector.

• Fellowship: A Fellow is a practicing professional who can demonstrate people’s skills or leadership skills in a particular

To qualify, an applicant must have Five years’ experience in insurance, financial services and or related sector and must have practiced as an Associate for at least one year.

IISA also offers a general membership category, as well as a student category, aimed at individuals who are studying towards an insurance qualification or a qualification that could be recognised for professional designations or a qualification as approved by the Financial Sector Conduct Authority (FSCA) for Financial Advisory and Intermediary Services (FAIS) Act purposes.

In addition to offering membership to insurance professionals, Mahlangu explains that IISA also offers corporate partnerships that provide organisations with affiliation to a professional body that delivers quality programmes that address the shortage of relevant skills in the industry and elevates the credibility and prestige of the insurance profession.

“Corporate partnership gives your organisation access to key professional development platforms. Being a corporate partner not only helps your staff stay ahead of professional development requirements, but also provides the necessary support to stay ahead of regulations and continuing professional development needs,” she says.

“Joining a professional association such as IISA comes with incredible benefits. It makes your professional life that much easier and smooth sailing, enabling you to get help as a member through networking and research. You’ll also get exclusive access to a number of invaluable

For individuals and companies interested in joining IISA, click here.