We are extremely proud of our Black Intermediary Development Initiative (SBIDI) that was launched in 2008. To date we have invested over R2.5million in this initiative and sees the programme becoming a long-term, sustainable contribution to the short-term insurance industry.
Developing and creating access for black intermediaries into the short-term insurance industry gives us the opportunity to influence the transformation of this sector positively, not only in terms of skills transfer, enterprise development, and job creation, but also in recognising an emerging market that is under-serviced in insurance terms.
Santam is looking beyond only training and qualifying black intermediaries - the SBIDI's ultimate aim is to create operational and viable black brokerages. We are constantly engaging with existing brokers and sharing the goals and objectives around the SBIDI programme.
The brokers who become part of the programme are immersed in it. All brokers participating in this programme mentor the interns on all aspects of the business, for example, day-to-day operations, sales and relationship building etc.
At the end of 2010, SBIDI produced 31 graduates (individuals with a degree, a diploma plus their FETC Short-term NQF Level 4 credits). We are proud to say that 70% have been employed into the financial industry. In 2009 we concluded with 42 interns completed the programme with 35% of the interns in Gauteng and 56% of interns in the Western Cape being employed either in Santam or at large brokerages.
We have taken SBIDI to new heights and aim to achieve even bigger milestones in 2011 and beyond.