The Role of SAIA in South Africa Insurance

While you may be familiar with the acronym SAIA, you may not know what it means or stands for. SAIA is short for the South African Insurance Association, which is an insurance body that is representative of 53 South African short-term insurance companies.

For over 27-years, the SAIA has been authorised to negotiate on behalf of its members under the guidance of a board of directors which is governed by a chairman and vice-chairman, both democratically elected by the board.

Currently Adam Samie of Lion of Africa Insurance Company holds the distinction of being chairman of the SAIA, while Steffen Gilbert of Santam Limited has been appointed vice-chairman.

SAIA's roots date back to the early last century when the Council of Fire Insurance Companies being formed, along with various other bodies along the way.

However, only in 1973 did all the respective insurance bodies 'join together' to form the South African Insurance Association as it known today.

The SAIA's core functions are to represent its members' short-term insurance interests proactively to the public as well as to all levels of the South African government, as well as to act as platform from which to encourage, facilitate and discuss common interests within the short-term insurance industry.

At a recent SAIA meeting, the board decided on a new strategy going forward that included prioritising insurance transformation and regulation, as well as improving the industry's public image and reputation and looking closely at consumer insurance issues.