ANNUAL REPORT –
PARLIAMENT BRIEFING 14 OCTOBER 2010
Sandra Dunn - CEO
Contents of Presentation
1. Opening Remarks by INSETA Chairman
2. INSETA Purpose and Values
3. INSETA delegation
4. Report of the Auditor General 2009/2010
5. Budget Analysis 2009/2010
6. Financial and Operational viability
7. Efficiency and Effectiveness
8. Highlights 2009/2010
9. The way forward
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.
INSETA VALUES
Partner to enable others
Lead with Vision
Form strategic partnerships
Be an employer of Choice
Consult and collaborate with
Develop contemporary solutions to lead
the industry
Listen, Learn, Influence, Shape
stakeholders
Deliver Quality
Touch Lives
Results for real impact
-Value for investment
Make a difference
Leave an enduring legacy
Inspire Trust
Transparent
Reliable and Consistent
Accountable
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
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.
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
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%
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
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
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
54 121 learners have successfully achieved learnerships, internships, bursary programmes and skills
programmes
11
CHALLENGES
- Sustainability of New Venture Creations
- Adult Basic Education and Training (ABET)
- Employment of unemployed youth
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
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
THANK YOU