1. ANNUAL REPORT – PARLIAMENT BRIEFING 14 OCTOBER 2010 Sandra Dunn - CEO

2. Contents of Presentation
Opening Remarks by INSETA Chairman
INSETA Purpose and Values
INSETA delegation
Report of the Auditor General 2009/2010
Budget Analysis 2009/2010
Financial and Operational viability
Efficiency and Effectiveness
Highlights 2009/2010
The way forward

3. PURPOSE AND VALUES
INSETA Purpose is to grow the pool and quality of scarce and critical skills in the insurance sector, enhancing the sector and supporting the country’s transformation.

4. Reliable and Consistent
INSETA VALUES
Partner to enable others
Form strategic partnerships
Be an employer of Choice
Consult and collaborate with stakeholders
Deliver Quality
Results for real impact
-Value for investment
Lead with Vision
Develop contemporary solutions to lead the industry
Listen, Learn, Influence, Shape
Touch Lives
Make a difference
Leave an enduring legacy
Inspire Trust
Transparent
Reliable and Consistent
Accountable

5. INSETA DELEGATION Rama Govenden – Chairman (Business)
Margie Naidoo – Deputy Chairperson (Labour)
Jay Mngoma – Council (Business)
Berna Botha – Finance Manager
Tumi Peele – Learning Division Manager
Sandra Dunn – CEO

6. REPORT OF THE AUDITOR GENERAL 2009/2010
2009/2010 -“Unqualified Audit”
WITH
Emphasis of Matter finding:
Irregular expenditure finding (tender process not followed in the appointment of Regional Advisors) has highlighted the importance of ensuring that INSETA management abides by the Supply Chain Management Policy.
INSETA remains committed to the principles of transparency, equal treatment, competitiveness, fairness, ethics and accountability.

7. REPORT OF THE AUDITOR GENERAL 2009/2010
FINDINGS
Predetermined Objectives
- Reported indicators not reliable as inadequate supporting information provided
Non adherence to legislation
No effective internal audit function

8. BUDGET ANALYSIS 2009/2010
Levy income resilient despite global conditions
8% increase in levies received
Through close management of spending INSETA ended the year with an admin surplus of R 3,4 million.
R107 million was allocated to Discretionary Projects in year 10
Mandatory grant payout – 91%

9. FINANCIAL AND OPERATIONAL VIABILITY
Committed and involved Council with a Strong Focus on Governance
Fully Resourced Organisation that will deliver to both National and Sector Strategies.
The Financial Projections for the next three years are positive and sustainable. (Levy income resilient despite global conditions)
Proven Track Record in delivering on Core Mandate

10. EFFICIENCY AND EFFECTIVENESS
Operational delivery within 10% administration budget
Successfully implemented the NSDS with NSDS I and II targets substantively met or exceeded
Unqualified audit reports
Strong Focus on Governance
Projects support NSDS and sector skills needs
Industry stakeholders support the strategies that the INSETA is pursuing to enhance skills development in the sector
An agile and responsive Seta that is supported by the Insurance Sector

11. HIGHLIGHTS FROM ANNUAL REPORT 2009/10
INSETA initiated the first pilot articulation project between Further Education and Training Colleges (FETs) and universities (HETs) in association with the University of Western Cape. The purpose of the project is to enable employees who complete a Diploma in Wealth Creation to advance to a second year BCom diploma – this type of offering a first for our sector
INSETA partnered with the South African Actuaries Development Programme in a bid to address challenges faced by the acute shortage of black actuarial skills in South Africa
Introduction of a pilot disability programme aimed at raising the profile of workers who are making remarkable differences in the insurance sector as well as organisations supporting the advancement of people with disabilities
INSETA is meeting most of its targets in terms of delivery against the National Skills Development Strategy
From year 6 to 10
learners have successfully achieved learnerships, internships, bursary programmes and skills programmes 11

12. CHALLENGES Sustainability of New Venture Creations
Adult Basic Education and Training (ABET)
Employment of unemployed youth

13. INSETA FOCUS GOING FORWARD
Accelerating and enabling regulation compliance
Management and leadership development
Specialist skills (actuarial and underwriting)
- shortage of black actuarial skills continued focus
Partnership and joint ventures where appropriate
Capacity Building of providers with specific focus on Further Education and Training Colleges to enable the Wealth Management Project expansion (FET/HET articulation)
Continuation of current projects that support NSDS and sector skills strategies
Greater emphasis on operational efficiency and effectiveness
Delivery in all nine provinces and in rural and remote areas

14. THE WAY FORWARD Proposed SETA Landscape:
Announcement by the Minister is awaited
Focus on 5 Strategic Pillars – Youth Development, Small and Micro Enterprise Development, Research & Benchmarking, Scarce & Critical Skills and Social Development
Programmes & project proposals submitted to Council for approval will ensure that the needs of the sector and the NSDS III imperatives are met
For the next three years INSETA will have four broad deliverables:
Delivering on our core mandate
Making INSETA a great place to work
Enabling transformation in the sector
Becoming the sector’s partner of choice for training, development & research

15. THANK YOU