Titel hier

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Titel hier
presented by
John Doe
Date here
SOUTH AFRICAN INSURANCE ASSOCIATION
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Financial education Competitive or collaborative
presented by
Viviene Pearson
17 November 2008
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Contents

• More about SAIAs FSC Consumer Education
  Initiative as background
• Benefits of collaborative effort - general
• Disadvantages of collaborative effort effort
  general
• Benefits of collaborative effort SAIA
  experience
• SAIA new proposed strategy

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SAIA FSC Consumer Education Initiative

• Strong commitment plus FSC
• Access and consumer education
• Partnership model SAIA members, FSB, LOA
• Holistic approach
• SAIA Funds spent so far
• 2004 initiative R4 million
• 2005 initiative R7.4 million
• 2006 initiative R7.3 million ( reserve 7.9m)
• 2007 initiative R8.5 million
• 2008 initiative R5.5 million

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SAIA FSC Consumer Education Initiative

• Projects
• Community workshops
• - Inzala
• Awareness campaigns
• - Comutanet
• - Provantage
• Teacher Development
• - Bright Media
• EMS Resource
• FSB, E-Lab

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SAIA FSC Consumer Education Initiative (2007/8)

• Financial literacy community workshops Inzala
• Partner LOA
• Programme Managing your Money
• Material accredited with MERSETA
• Unit Standard NLRD 9268 Manage Basic Personal
  Finance supplied to each learner
• Reside in Provinces where they run workshops
  language, culture etc
• Printing and distributing training material
• Recruitment of learners from labour and community
  constituency networks by regional project
  co-ordinators
• Facilitation of workshops
• 9 Languages (Zulu, Xhosa, Sotho, Tsonga, Venda,
  Tswana, Pedi, English, Afrikaans)
• 9 provinces
• 23,088 people attended workshops in 2008
• 49,047 attendees since project began in 2006
• Completed end July 2008
• Independent Grant Thornton

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SAIA FSC Consumer Education Initiative (2007/8)

• Awareness 1 ComutaNet
• Partner FSB
• Medium of message transfer
• Rank TV (16 TV screens 12 X 12m 3 months)
• Star Radio (24 major taxi ranks 3 months)
• Star Taxi Music (5000 cds in taxis for 6 months
  58 mins)
• Commuter FM (train stations 3 months)
• Roving Stage (5 stages to various ranks over 36
  days. Competitions, role plays)
• Kiosks (30 kiosks over 6 weeks, 2 promoters 3 X 1
  hour vibe times)
• Themes
• Measurement
• Reaching approximately 17,7 million commuters
• via Comutanet per day LSMs 1 10, mainly 3 - 6
• Independent audit Grant Thornton

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SAIA FSC Consumer Education Initiative (2007/8)

• Awareness 2 Provantage
• Message transfer through shoppa shows and mall
  theatre
• Rolled out in 20 emerging malls situated near
  taxi ranks, train and bus stations
• Programme ran over 20 weeks from September 2007
  April 2008
• Mall stands moved from mall to mall for 6 days
  per week per mall.
• 4 trained staff members per mall stand from
  10h00 to 18h00 - communicated in English and the
  mother tongue with audiences
• Message includes the same themes as the Comutanet
  project, i.e. money management, debt management,
  rights and responsibilities, short-term
  insurance, Mzansi insurance
• Fun theatrical shows, dances etc
• Prize draws etc in order to create interest as
  well as database
• Programme mainly reached LSMs 4 7, with a
  smaller component of
• LSMs 1 - 3
• Measurement

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SAIA FSC Consumer Education Initiative (2007/8)

• Teacher Development Bright Media
• Partner FSB
• Project implemented from November 2007 August
  2008
• An estimated 70 520 will be reached annually
  directly through the teachers that attended
  training, and a total nr of 400 000 students p/a
  through the resources distributed
• Research and development of material in line with
  National Curriculum for Mathematics Literacy
  Grade 10 and 11
• Printing and distribution of resources
• 10 000 multimedia resource files were developed,
  printed, an distributed
• to teachers
• Teachers received the resource file, cd with pdf
  files of the
• resource materials, posters, worksheets,
  assignment sheets,
• answer sheets etc.

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SAIA FSC Consumer Education Initiative (2007/8)

• Additional project EMS Resource (FSB, E-lab)
• Partner FSB
• DoE and FSB identified need in terms of skills
  development of Economic Management Services (EMS)
  in General Education Training (GET) band, i.e.
  grades R 9.
• EMS also new subject
• Development of resource by DoE attempt to assist
  in addressing situation
• Original project experienced difficulty, new
  project approved through normal processes and
  includes using FSB booklets plus digitisation of
  these on CD-ROM.
• Money in action
• FSB project, SAIA partnered part of it, i.e.
  development, printing and distribution of
  resources for grades R - 9 for schools in
  quintiles 1and 2, mainly Black schools.
• The FSB and Financial Services Consumer Education
  Foundation
• are committed to fund the resources for the rest
  of the
• schools in the other quintiles, as well as
  workshops for teachers

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Benefits of collaborative effort - general

• SAIA workshop
• Identified the following benefits
• Able to fund large scale projects for maximum
  impact countrywide, inclusive, many more
  people, quality control
• Holistic approach complementary projects,
  co-ordination, no duplication of effort,
  consistency of message
• Industry approach target areas of concern,
  specific commercial interest does not interfere,
  credibility of message, credibility image and
  reputation of industry, industry speaks with one
  voice
• Make it possible for all companies to make impact
  also smaller companies with little money and
  resources
• Improved monitoring and lesson learning
• Attracts partnerships further maximising impact

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Disadvantages of collaborative effort general

• SAIA Workshop
• Disadvantages identified included
• Link between consumer education and commercial
  imperative not clear does not become integrated
  in business processes, difficult to show on the
  bottom line, consumer education does not
  penetrate company culture
• No brand association footprint in the market,
  limited marketing
• Discourages innovation
• Not able to target geographically
• No direct learning experience for individual
  companies

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Benefits of collaborative effort SAIA experience

• Able to fund large scale projects for maximum
  impact countrywide, inclusive, many more
  people, quality control
• Numbers company alone?
• Holistic approach complementary projects,
  co-ordination, no duplication of effort,
  consistency of message
• Project mix, messages, etc
• Industry approach target areas of concern,
  specific commercial interest does not interfere,
  credibility of message, credibility image and
  reputation of industry, industry speaks with one
  voice
• Short-term insurance
• No brand interfering, no marketing, audience
  trusts message

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Benefits of collaborative effort SAIA experience

• Make it possible for all companies to make impact
  also smaller companies with little money and
  resources
• One companys funds vs pooled funds
• Cost of consumer education
• Improved monitoring and lesson learning
• Have more resources to implement these in pooled
  benefit
• Need to share with participants
• Attracts partnerships further maximising impact
• Cost intensive effort of projects
• SAIA example FSB contribution
• Human resources
• Expertise
• Financial contribution
• SAIA example LOA (ASISA) contribution (Inzala
  2008/9 project)

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Conclusion - SAIA new proposed strategy

• Conclusion
• SAIA Consumer Education Committee new proposed
  strategy
• Identified two main streams of consumer education
  needed
• Generic financial literacy
• Product specific point of sale
• Recognised role of collaborative effort
• Industry generic financial literacy
• Recognised need for footprint in market
• Companies product specific point of sale

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Titel hier
presented by
John Doe
Date here
Thank you!