The role of INSETA
The Insurance Sector Education and Training Authority, known as INSETA, continues to play a central role in developing skills and supporting transformation in South Africa’s insurance sector. The 2024/25 Annual Report shows an organisation that is stable, forward-looking, and committed to making a real difference in the lives of learners, workers, and businesses. INSETA has spent more than twenty years supporting the growth of the insurance industry by offering programmes that improve education, workplace readiness, and career opportunities. The organisation is described as a bridge between training and the labour market because it connects skills development directly to the needs of employers in the sector.
Economic importance
The report highlights that INSETA operates in a sector that forms a large part of the South African economy. Insurance is part of the broader finance, real estate, and business services group, which contributes over 23% to national GDP. Because the sector is so important, INSETA’s work is essential for ensuring that South Africa has the skilled professionals required to support growth, innovation, and transformation.
Transformation as a core priority
A key theme in the report is transformation. The insurance industry has historically reflected the inequalities of the country, especially in terms of race and gender. INSETA has been tackling these challenges through targeted programmes that open doors for young people, women, and previously disadvantaged communities. These efforts help to build a more inclusive and representative workforce in the sector. The organisation uses detailed research, labour market intelligence, and the Sector Skills Plan to identify scarce and critical skills and then designs learning initiatives to meet these needs. This evidence-based approach ensures that its interventions create real change and prepare people for future occupations.
Organisational performance
The 2024/25 report shows that INSETA performed strongly across almost all its programmes. Out of 62 performance indicators, 59 were achieved, giving the organisation an overall performance rate of 95%. This is an important milestone, as it reflects effective planning, quality delivery, and strong oversight. Most of the learning and skills planning programmes achieved 100% of their targets. These include improving the skills of the workforce, supporting access to occupational programmes, enhancing career development, and strengthening rural development. Only the administration category fell slightly below target, but the majority of indicators remained fully achieved.
Internal improvements and the Excellence Model
INSETA’s internal environment also improved during the year under review. The organisation continued to implement its Excellence Model, which is built around four main pillars: Mandate, People, Systems, and Impact. These pillars guide the organisation’s overall direction and help maintain a culture of high standards and accountability. The Excellence Model is not only a framework on paper but is actively used to strengthen leadership, improve teamwork, and create reliable systems that support service delivery. The launch of the Excellence Model was described as a historic milestone for the organisation.
Skills development and TVET/CET programmes
One of the successes highlighted in the report is the strong performance in skills development programmes. INSETA works closely with colleges, employers, and learners to expand access to education. For example, the number of TVET lecturers and CET lecturers who received training met or exceeded the annual targets. These programmes help improve the quality of teaching in the post-school education system and ensure that learners entering the insurance sector are taught by well-trained lecturers with up-to-date knowledge.
Leadership development initiatives with Gordan Institute of Business Science (GIBS)
The organisation also made progress in leadership development. A major achievement was the launch of the International Executive Development Programmes with intuitions of higher learning. These programmes are focused on addressing transformational and redress. A Women in insurance programme is one of the executive development programmes which was curated to accelerate the support for women leaders in the insurance industry. More than a thousand women have been supported by INSETA within the last five years.
INSETA also launched another leadership programme with Henley Business School, enrolling one hundred and twenty leaders in 2024. This initiative aims to build strong, visionary leadership within the sector, equipping professionals with global insights and innovative thinking to transform the industry. The organisation believes that effective leadership is essential to shaping a more inclusive and competitive sector.
Innovation, entrepreneurship, and new partnerships
Another focus area in the report is partnerships that promote inclusive innovation. One example is the partnership with the Technology Innovation Agency, which funded twenty entrepreneurs through a grassroots innovation programme. One beneficiary used the support to build a financial solutions company called Fair Score, which now helps young people and families access fair and transparent financial tools. This shows how INSETA’s work can contribute to entrepreneurship and economic empowerment beyond just formal employment.
Rural development and community inclusion
Rural development also received attention. A strong example is the partnership with Old Mutual iWYZE, which launched a learnership programme for unemployed youth in Mpumalanga, even though the company had no footprint in the province. Funded through an INSETA discretionary grant, the programme trained ten young women in contact centre operations and workplace readiness. This initiative supports transformation, job creation, and the retention of skills in rural areas that need them most. All participants were African women from previously disadvantaged backgrounds, showing INSETA’s commitment to inclusive development.
Supporting people with disabilities
Our disability strategy continues to yield positive results as we implemented a programme for instance INSETA trained fifty learners in a Wealth Management programme, including a significant number of learners living with disabilities in the previous financial year. This inclusive training model reflects INSETA’s commitment to creating equal opportunities for all groups and supporting learners who may face additional challenges.
Governance, accountability, and oversight
Governance remains one of the strongest areas within INSETA. The Accounting Authority reported that the organisation maintained high standards of transparency, compliance, and ethical conduct. A risk-based approach was used in planning, and internal audits were conducted across financial statements, performance information, HR, IT, quality assurance, and other areas. These audits ensure accountability and help the organisation identify and fix issues quickly. The Board plans to strengthen digital readiness, expand partnerships, and promote qualifications that respond to the changing world of work.
Financial stability and organisational strength
On the financial front, INSETA remains stable and resilient, with strong revenue inflows and adequate reserves. The Accounting Authority notes that the organisation has the necessary financial strength to continue delivering its mandate and supporting transformation in the sector.
INSETA as a catalyst for national development
Overall, the 2024/25 Annual Report shows an organisation that is achieving its goals, strengthening internal systems, and delivering high-impact programmes that change lives. Through leadership development, youth empowerment, inclusive partnerships, and rural outreach, INSETA continues to support South Africa’s economic growth while promoting fairness, skills development, and transformation.
This fact sheet captures the key highlights of the report and shows how INSETA continues to serve as a catalyst for national development.
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