New education framework reinvents education in SA’s insurance space

In an agile response to an education system that is incongruous with the current realities and incompatible with the demands of 4IR-transformed workplaces, the Graduate Institute of Financial Sciences (GIFS) in partnership with the Insurance Institute of South Africa (IISA) has introduced a ground-breaking new framework designed at reinventing education in South Africa’s insurance space.

The Insurance Framework of Occupations has been unveiled at the annual insurance conference,   the African Insurance Exchange 2021 (AIE2021) Conference on 2 August 2021. Internationally benchmarked and globally recognised, the Framework is linked to the IISA professional designations, and offers future-fit education pathways and recognition of Prior Learning (RPL), charting a solid career path from the level of a Novice (NQF 5) to a Master (NQF 8).

“At GIFS, we are not just rethinking education; we are completely reinventing it with the Insurance Framework of Occupations,” says Dr Kershen Pillay, Chief Executive Officer of the Graduate Institute of Financial Sciences (GIFS). “The strong application element of the Framework allows for occupationally robust individuals to immediately add significant value to organisations as soon as they qualify. Essentially, what you have are fully skilled, occupationally versed professionals who are plugged into a streamlined talent development pipeline. From an overarching industry perspective, this ensures a constant flow of workplace-skilled insurance individuals to offset the number of industry connoisseurs who are exiting the sector.”

“As a firm advocate for practical learning application and tangible learning, I believe the Insurance Framework of Occupations will provide significant value to many insurance practitioners,” says Thokozile Mahlangu, Chief Executive Officer of the Insurance Institute of South Africa (IISA). “The Framework being aligned to the IISA designations is something that is much needed in our sector. It provides an alternate, robust pathway for insurance practitioners to access designations as opposed to a traditional way of obtaining a qualification.”

In terms of practical application, the Framework is designed to be concise, simple, and fully personalised, paving the way for multiple entry and exit points. “If, for instance, you have years of solid experienced, we will conduct a pre-assessment, the results of which will determine whether you can be fast-tracked through the Framework channel to an NQF Level 6,” explains Dr Pillay. “However, if you are relatively new to the insurance space, the Framework will start you on an NQF 5 footing and guide you through the education funnel until you qualify at an NQF Level 8 as an industry Fellow.”

The Insurance Framework of Occupations will launch on 1 March 2022 in time for the new academic intake cycle. Further details will be unveiled in due course.

02 August 2021