Insurance sub or related boards - Coggle Diagram
Insurance sub or related boards
Financial Intermediaries Association
of Southern Africa (FIA) represents more than 15 000 licensed financial services advisers throughout Southern Africa. The origins of the FIA date back more than 50 years, with the organisation having recently evolved into a single, united national body representing the bulk of active licensed intermediaries in South Africa’s financial services industry.
The FIA’s primary purpose is to represent, protect, promote and further the common interests of its members.
All members of the FIA are authorised financial services providers or representatives of such providers. In terms of the FAIS Act our members must adhere to all the requirements prescribed by the Act and its Regulations.
INSTITUTE OF RETIREMENT FUNDS (IRF)
This is a body set up to represent the retirement fund industry, largely made up of privately registered funds, state funds, insured funds run through the life insurers and brokers involved in the retirement fund field. The Institute has a small secretariat and fulfils a role in the dissemination of information regarding the industry as well as in lobbying on behalf of the industry.
Membership is via the fund rather than individuals, although the Institute does offer individual members a Diploma in Retirement Fund Management should they pass a series of examinations set and administered by Unisa.
The IRF concentrates on fund trustees and the administrators, insurers and benefit consultants
BLACK BROKERS ASSOCIATIONS
:Black Insurance Professional of SA (BIPSA) was officially launched in November 2004, and have been formally incorporated as a Section 21 Company. Their mission is to accelerate transformation and development for black insurance professionals, and their values are:
BIPSA has the following strategic pillars:
that form the objectives as a catalyst for transformation in the insurance industry.
This body is made up of qualified legal people operating in the field of retirement funds.
The Institute of Pension Consultants and Administrators, an association formed by independent consultants and administrators in the Republic of South Africa which is directly concerned, through its own specialised full-time staff, in giving advice on schemes or funds or administering such schemes or funds, for the provision of Group Employee Benefit programmes merged into the PLA in 2007.