Transformation & BBBEE


Transformation and BBBEE

Our approach to transformation is holistic and continues to be embedded in and integrated into how the business operates. Our transformation approach runs across our stakeholder value chain. It considers the diversification of workforce diversification, intermediary and supplier network development, providing opportunities for non-traditional markets to access our products, as well as the investment in the communities in which our employees live and where we do business. Transformation initiatives reinforce our brand promise of Insurance good and proper.

We understand the value of diversity and an inclusive approach to drive superior and sustainable business results. Our progress in transforming our business and contributing to transformation in the industry and the economy created significant value for our stakeholders.

For the South African businesses, BBBEE remains a priority. A new, focused transformation strategy was adopted in 2016 to ensure delivery on the following objectives:

  • Driving high-impact transformation initiatives for business and societal value
  • Creating a diverse and inclusive culture
  • Driving transformation through innovation
  • Leading transformation compliance

We developed specific initiatives and actions for each objective, with the executive team taking responsibility for the implementation, monitoring and evaluation of the transformation agenda across the group. 

Salient transformation features for 2016 include:

  • Diversifying our supplier network by investing a further R30 million into the ASISA Edge Growth fund (a total of R40 million to date) to create access to loan funding for new and small BBBEE suppliers in the sector
  • 11 of the 19 participating suppliers in the Sanlam/Santam Enterprise Development Programme in partnership with ASISA are Santam-specific suppliers
  • Improvements in the mechanisms used to grow our footprint into the South African entry-level market include the establishment of “Lemon” (lateral emerging market opportunity network) to provide the different business units with a formal platform to share, explore and identify strategies and actions to create access to and for this market. These include, for example, Santam Agri, Santam Direct and Vulindlela Underwriting Managers (VUM), and provide a central reporting facility for targets set on consumer financial education initiatives, activation and impact
  • We achieved a level 2 BBBEE status based on the new FSC requirements, and have been able to retain our ownership score after the unwinding of the BBBEE scheme in 2015
  • A new diversity strategy was launched in April 2016 to ensure that the Santam culture supports sustainable transformation

To ensure future availability of black intermediaries for the industry, and as a critical element of our business model and transformation priorities, the Santam Black Broker Development programme, which focuses predominantly on developing skilled black people as intermediaries, has delivered 166 black learners in 2015 and 2016. The learners have graduated from the programme with a full insurance qualification and are now contributing to the South African economy.

The programme has been expanded to smaller cities like Pietermaritzburg and Bloemfontein to provide broader access. The goal is to expand the programme to youth in rural towns. Efforts to increase the placement of Black Broker Development graduates in permanent employment are progressing, following the establishment of a central structure in Santam to encourage and promote cross-selling opportunities and generate business leads across various distribution channels.

As part of our effort to build a pipeline of new entrants into the insurance industry, a concerted effort is made to place as many of the Black Broker Development graduates with either intermediaries or with Santam.

Our learnership programmes for 2016 included:

  • The Santam general insurance learnership programme
  • The Santam motor assessor learnership programme
  • The Santam Black Broker Development programme
  • The empowerment incubator (Uyanda STI Careers)

Transformation defined

We define transformation as a dynamic process through which we create a sustainable culture of diversity and inclusion, with a focus on our workforce, our workplace and our marketplace. This is activated through our product and service offering to diverse markets, the creation of diverse distribution channels, employee profiles, ideas, race, gender, experience and other perspectives. In so doing, we ensure economic inclusion and create value for our key stakeholders across the markets in which we operate, locally and internationally. Our transformation journey will continue to focus primarily on the South African market. 

Key stakeholders impacted

The stakeholders impacted and affected by our transformation strategy are diverse and representative of the entire value chain. For the purpose of this strategy, the key stakeholders are:

  • Employees
  • Suppliers
  • Clients
  • Intermediaries
  • Associated companies
  • Business partners
  • Subsidiaries
  • Relevant government departments (dti, Small Business Development Department and National Treasury)

Our transformation mission

To leverage the value of diversity and inclusion to drive superior and sustainable business results, competitive advantage and value for stakeholders.

We aim to achieve this by focusing on:

  • Our workforce: We build a capable, high-performing and diverse workforce that is reflective of the marketplace in which we operate (skills, generation, race, gender, ideas).
  • Our workplace: We create a culture that values our differences and drives innovation to achieve growth, reduce our risks and create efficiencies.
  • Our marketplace: We work with our stakeholders (clients, employees, intermediaries, suppliers, business partners, shareholders and communities) to create value and to enable business success in our diverse marketplace.

Our BBBEE scorecard

We subscribe to the Financial Services Charter. Find our latest BBBEE certificate and scorecard.



Transformation is integral to the Santam business strategy and is driven through an integrated transformation strategy that focuses on Santam’s workplace, workforce and market place. The following policies and strategies are implemented to ensure workforce diversity, equal opportunities and to prevent discrimination in the workplace:

  • Employment Equity policy, EE Plan and objectives to ensure workforce diversity and prevent all forms of unfair discrimination
  • Racial harassment and unfair discrimination policy to prevent discrimination
  • Diversity strategy to build and sustain a culture that values and appreciates diversity

Implementation of these strategies permeates all people processes, practices, decision making and management accountability.

Transformation is one of the Santam strategic priorities and is driven through the strategy which is aligned with the business BBBEE codes, Financial Sector Charter and EE. An implementation is driven through a plan, with specific/clear objectives and targets, accountability and measures. Progress towards achievement is monitored, evaluated and reported on to employees, business units, executive committee, board and relevant regulatory organisations. The BBBEE objectives are included in management KPIs.