Ground-breaking youth empowerment initiative within the Financial Services Sector

JOHANNESBURG: A ground-breaking economic rejuvenation initiative to identify and nurture fresh talent within South Africa’s insurance industry is underway. The IIG Academic Programme, a learnership bootcamp that bridges the gap between education and industry experience, is the brainchild of the Insurance Institute of Gauteng (IIG) and the Graduate Institute of Financial Sciences (GIFS). The initiative aims to empower young professionals from disenfranchised backgrounds with knowledge, skills, and competencies to carve out successful careers in SA’s insurance industry.

While the programme has accepted 44 of the brightest  young minds between 18 and 28-years for a 12-month Short-Term Insurance (NQF 5) qualification designed by GIFS, only 20 learners will be selected for an intensive, specialised mentorship and industry experience-driven programme. The Top 20 will be given the opportunity to tap into the wisdom and experience of 10 seasoned industry specialists who will serve as mentors for the year.

“COVID-19 has forced organisations to recalibrate, and with more people working from home, the need for mentor-led, career-focused partnerships is growing,” explains GIFS CEO, Dr Kershen Pillay. “There is also a compelling need to strategically cultivate and support talent within sectors to ensure key knowledge is passed on. The IIG Academic Programme shores up efforts to stimulate socio-economic growth at a grassroots level while simultaneously encouraging meaningful, positive change within the Financial Services Sector. It truly is life-changing for the learners.”

Echoing this sentiment, Darryl Grater, President of the Insurance Institute of Gauteng (IIG), emphasises that the industry’s need for education is evident now more than ever. “With an older average age in the industry and a concern that knowledge transfer is not being optimised, institutes like the IIG play a pivotal role in the enablement of insurance talent. We can achieve this by facilitating various education and enablement platforms with a strong transformation-focused standard. The IIG Academic Programme is such an example.”

Last year, the pilot IIG Academic Programme armed 13 young professionals from disadvantaged backgrounds with employable skills through cost-free education and guided mentorship. When the programme ended, all learners were offered employment at leading organisations within the Financial Services Sector.

23-year old Thulile Vuma, who secured an internship at Marsh, global leaders in insurance broking and risk management, says the 2019 programme changed her life. “Not only has the programme given me financial stability, but it’s also given me the opportunity to discover my true self. The mentors helped boost my self-esteem and confidence and I am forever grateful for the opportunity.”

22-year old fellow graduate, Patience Pedzane Timane, agrees. “Before the programme, I never thought I would have a career in the insurance industry. The programme taught us how to successfully conduct ourselves in the working environment. I now believe that with hard work and determination, I can do anything I put my mind to,” says the Thembisa resident who is now employed as Clerical Assistant at Marsh.

Tshegofatso Penelope Leshiba, 23, is also grateful for the 2019 experience. “IIG has given me the opportunity to study which I would never have been able to do. I didn’t have to worry about tuition fees or how I would get to class because everything was taken care of. I loved the workplace practicals that introduced us to many big companies including Discovery, Momentum, Santam and African Bank. Today, because of this experience, I hold an HR Administrator position at MiWay Limited Insurance, one of the top companies in the Financial Services Sector.”

This year, because of COVID-19 restrictions, the programme is rolling out virtually, with interactive online knowledge-exchange and mentorship sessions, and workplace practicals where participants will get a first-hand digitally-immersive experience of what it is like to work at some of SA’s top  companies within the Financial Services space.

Due to the crippling effects of COVID 19, and encouraged by the words of our late great statemen Nelson Mandela, “Education is the most powerful weapon you can use to change the world”, GIFS and the IIG have undertaken to educate an additional 256 young South Africans in the Financial Services industry. This is in addition to the current 44 learners who are participating in the IIG Academic Programme, bringing the total number to  300 young SA youth being empowered by the IIG and GIFS with skills and competencies needed to flourish in the insurance industry.

The IIG Academic Programme is a year-long development initiative that will wrap up in August 2021. Further information is available at www.iig.co.za or www.gifs.africa

26 October 2020