IISA is recognised by the SA Qualifications Authority (SAQA) as the professional body for awarding professional designations in the short-term insurance industry.
While the foundation of the IISA can be traced to 1891 through local institute history in South Africa, the IISA was formally established as a national educational and professional body in 1966.In this capacity the IISA has been the custodian of professional standards in the insurance industry, and more recently, in November 2012, have been formally recognised by the South African Qualifications Authority (SAQA).
This recognition confirms the IISA as the only professional body that may award the professional designations of Licentiate, Associate and Fellow in the insurance industry, under the auspices of the National Qualifications Framework (NQF) Act of 2008.
The South African NQF is a comprehensive system approved by the Minister of Higher Education and Training for the classification, registration, publication and articulation of quality-assured national qualifications. The NQF was established under the SAQA Act (Act 58 of 1995) and continues under the NQF Act (Act 67 of 2008) which came into effect on 1 June 2009.
The objectives of the NQF are to:
- Create a single, integrated national framework for learning achievements
- Facilitate access to, and mobility and progression within, education, training and career paths
- Enhance the quality of education and training
- Accelerate the redress of past unfair discrimination in education, training and employment opportunities
- Contribute to the full personal development of each learner and the social and economic development of the nation at large.
The IISA meets all the criteria set out by SAQA for recognising professional bodies and for registering a professional designation on the NQF. Details of these criteria are as follows…
Criteria for recognising a professional body
A body applying to be recognised as a professional body by SAQA shall:
- Be a legally constituted entity with the necessary human and financial resources to undertake its functions, governed either by a statute, charter or a constitution and be compliant with and adhere to good corporate governance practices
- Protect the public interest in relation to services provided by its members and the associated risks
- Develop, award, monitor and revoke its professional designations in terms of its own rules, legislation and/or international conventions
- Submit a list of members in a form acceptable to SAQA
- Set criteria for, promote and monitor continuing professional development (CPD) for its members to meet the relevant professional designation requirements
- Publish a code of conduct and operate a mechanism for the reporting and investigating of members who are alleged to have contravened the code
- Not apply unfair exclusionary practices in terms of membership admission to the body or when recognising education or training providers
- Make career advice related information available to SAQA
Criteria for registering a professional designation on the NQF
In order for a professional designation to be registered on the NQF it must:
- Be submitted to SAQA by a recognised professional body in accordance with an application process determined by SAQA
- Be developed, conferred and subject to being revoked in terms of the rules, legislation and/or international conventions applicable to the recognised professional body
- Be monitored in terms of the rules, legislation and/or international conventions applicable to the recognised professional body
- Be part of a progression pathway which may include an occupational pathway
- Be linked to a validated database of the names of individuals conferred the professional designation
- Include, as an initial requirement, an underlying qualification(s), which may include an occupational qualification(s)
- In the case of an individual’s qualification having been obtained at an institution not registered in South Africa, the individual applying to a professional body for a professional designation must ensure that the qualification has been evaluated by SAQA and found to be comparable to the South African underlying qualification
- Include as general requirements, experiential learning, recognition of prior learning and/or practical experience
- Include as retention requirements continuing professional development (CPD) and adherence to a code of professional ethics/conduct
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