Formally known as the Insurance Institute of the Cape of Good Hope, the insurance institute of the Western Cape (IIWC) was established in 1898.   It is the oldest insurance institute in South Africa and possibly Africa with a significantly deep-rooted history within our community.

 

It was initially established by dynamic professionals within the Western Cape short term community, who were passionate about our industry and wanted to create a platform for like -minded peers to connect, share and grow.

 

The insurance industry was able to navigate the challenges and continue to provide support to customers and businesses – even using this a stepping stone to propel itself to greater heights.  The industry has played a crucial role in helping to sustain the economy during this time, and our members should be recognized as heroes for their hard work and dedication in ensuring that customers and their businesses are protected.

 

While anticipating new opportunities that the insurance industry brings as it grows, it is vital to appreciate the past and current world events that has developed our strengths.  

Reflecting back, pinnacle occurrences such as record-shattering global temperatures caused by global-warming ranging from historic wildfires to extreme drought to record flooding, the evolution of Artificial Intelligence (AI) and the continuation of global democratic recession; could have been seen to be elements which pose a threat to our thriving insurance community.    Instead, our resilient community has seen the opportunities within the dire events.    AI has been welcomed as a tool to better reach, engage and understand our customers, investments in renewable energy insurance products have increased as it has become not only a practical remedy but a welcomed tool for expense-reduction in the long term.

 

This has proven the IIWC philosophy that while we are strong alone, together we are unstoppable.

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IIWC Achievements for the past year:

 

• The brand and media team grew the organization's online presence, implemented online payments for events, the acquisition of resources for the purposes of tracking media exposure by means of analytics and distributed information to members. 

 

• The team has also initiated a means of advertising industry-related vacancies in order to communicate employment opportunities.

 

• The membership stream has continued to grow year on year with a lot of younger members joining and seeing the value we promise to deliver.

 

• Together with Cover Magazine, the IIWC has brought the AfricaCovered initiative into being.   The initiative has the purpose of travelling to various African countries to research insurance behaviour of critical stakeholders with the objective of discovering ways to leverage from partnerships in strengthening the industry.

 

• The charities team supported organizations fighting against poverty and gender-based violence, pledging over 70,000 meals with Food forward and raising in excess of R 180,000 in charitable donations.

 

• The education team held 8 webinars and 3 in-person sessions, providing 23 total CPD points for 2023.

 

• The RISE mentorship program was incredibly successful and will continue to support mentees in their careers.

 

• The under 35s team had more in-person events and grew their membership and CPD points.

 

 

The organization is grateful for the support of its members, sponsors, and council in maintaining to its core values of the Synergistic Effect – Strong Alone but together we are unstoppable.