The Insurance Sector Education and Training Authority (INSETA) is set to host its Annual General Meeting (AGM) on Friday at the Sandton Convention Centre. The event will mark the fourth year of its 2019/20 to 2024/25 strategic plan, highlighting its achievements and unveiling future goals.
INSETA has positioned itself as a critical driver of skills development in South Africa's insurance sector. The authority has supported 61 961 beneficiaries to date and aims to reach 80 000 by the end of the financial year.
“INSETA has fundamentally repositioned itself as a catalyst and contributor to transformation through skills development within the financial and insurance sector,” said CEO Gugu Mkhize.
Despite challenges posed by the Covid-19 pandemic, which saw performance dip to 72% in 2020/21, INSETA said in a statement it had bounced back, achieving 97% of its targets for 2023/24.
INSETA has also implemented impactful programmes such as the Skills for Rural Impact initiative, support for 1 911 Small, Micro, and Medium Enterprises (SMMEs), and the Choose Your Fate film, which has reached over 10 000 learners to promote careers in insurance.
At the AGM, INSETA will present its annual performance and financial reports, alongside the Auditor-General’s findings.
Looking ahead, the strategic plan will focus on six key priorities for the next five years, including investments in technical insurance industry skills, an enhanced focus on digital skills development, and the implementation of co-funding models to achieve ambitious targets.
BUSINESS REPORT