SAIA encourages industry participation at AIE Conference 2024

The Insurance Institute of South Africa (IISA) and the South African Insurance Association (SAIA) will host the African Insurance Exchange Conference 2024 at Sun City Resort between 21 and 24 July 2024. The African Insurance Exchange will also commemorate its grand jubilee, celebrating 50 years of excellence, innovation, and collaboration in the insurance industry.

The African Insurance Exchange Conference 2024 promises an enriching experience, offering invaluable insights, cutting-edge advancements, and unparalleled networking opportunities with industry leaders across the continent. This is a must-attend event for anyone looking to stay at the forefront of the rapidly evolving insurance landscape.

Former Executive Director of UN Women and Deputy President of South Africa, Dr Phumzile Mlambo-Ngcuka, will deliver the keynote address, highlighting the need for transformational leadership that inspires positive changes and tackling such issues as empowering and encouraging people to accomplish that change through collaborative engagements.

Pamela Ramagaga, SAIA General Manager: Insurance Risks, said, "Celebrating 50 years, this conference underscores half a century of progress, innovation, and collaboration within the African insurance sector. The conference theme, focusing on three concepts: Foundations, Foster, and Fearless, addresses the fact that in today's rapidly changing world, the insurance industry is evolving at an unprecedented rate, and we need to be at the vanguard of this change."

The conference will explore the concept of 'Foundation' by investigating the industry's historical roots, their role in ensuring stability and protection, and the ongoing significance of these foundations in a rapidly changing world. The theme reflects the insurance industry's long history of adapting to the present and preparing for the future. Foundation represents the core principles and values of the insurance industry, symbolising fundamental elements such as trust, reliability, and security. The conference will emphasise the evolution of insurance based on such foundations, how the industry can use it to withstand crises, and its benefits to the economy.

The 'Foster' concept emphasises the insurance industry as a crucial player in fostering innovation, talent, and development. This aspect suggests that insurance can cultivate new ideas, support emerging technologies, and cultivate a diverse and inclusive workforce. Furthermore, the discussion will revolve around ways to foster collaboration with tech startups in the industry, sustainable practices, and a culture of continuous learning and adaptation.

The third pillar, 'Fearless', emphasises embracing change, taking risks, and confronting emerging challenges and opportunities in the insurance industry. It focuses on how the industry can become more flexible and adaptable in an era of digital transformation, climate change, and shifting customer expectations. The goal is to explore the industry's rich history, its potential for growth and development, and its ability to face challenges and opportunities bravely. The theme's objective is to promote courageous innovation and showcase companies that have successfully adapted to disruption and explored new frontiers in insurance. Through meaningful discussions and presentations at the conference, insurance professionals will be inspired to chart a path rooted in tradition and ready for a dynamic future.

The conference topics will address several challenges the insurance industry faces in today's rapidly evolving world. This evolution, however, provides valuable lessons for the future. The evolution of insurance itself is one of the key factors shaping business insurance. There is increasing interest in understanding how rule-driven artificial intelligence (AI) can be integrated into our daily lives.

Integrating Environmental, Social, and Governance (ESG) factors into business operations and corporate strategies to create value is another significant topic. Insurance needs to be reimagined to better meet the requirements of modern society.

The changing operating environment is forcing insurers to adapt more. For example, with continuous innovation and advancements, the healthcare industry is poised for a brighter future than ever before. And exploring alternative energy solutions to achieve sustainability is becoming more critical.

The importance of operational resilience in a changing environment cannot be overstated for businesses, and understanding the rising protection gap highlights the challenges insurers confront. Enterprises are focusing on optimising technology to complement their human capital.

Finally, the dynamic between competition and cooperation is an intriguing paradox that our businesses navigate. Plus, in our increasingly digital world, there is a concern about the possibility of cyber-attacks leading to a pandemic.

Various events will occur throughout the conference, such as a Golf Day, a Welcome Cocktail, and an Annual Gala Dinner. These events aim to celebrate the industry's growth and success, foster camaraderie, and create a festive atmosphere. In addition, delegates will receive Continuing Professional Development (CPD) hours to improve their professional credentials.

In summary, the 50th African Insurance Exchange Conference 2024 is an important event commemorating the African insurance industry's past, present, and future and offering significant networking opportunities, education, and innovation demonstrations.

The registration link for AIE 2024 is http://www.africaninsuranceexchange.com/

Any queries can be directed to Vumokuhle Ntanzi registrations@africaninsuranceexchange.com;

For more information, visit https://www.iisa.co.za/aie-conference/aie2024.