SSP Brochure:Layout 1 - INSETA

Table 1.4 Other activities of organisations in the sectorMain subsector Collective Life Pensioninvestments insurance fundingHealthcarebenefitsSource: Inseta, Survey of Employment, Scarce and Critical Skills in the Insurance Industry, May 2006Short terminsuranceFuneralinsuranceReinsurance Activitiesauxiliary toinsuranceNon-insurancerelated activitiesPercentage of organisations involved in other subsectorsCollective investmentsLife insurance 27.4 36.2 22.2 15.4 51.5 4.9 12.0Pension funding 28.0 5.7Healthcare benefits 30.5 66.2 24.3 66.2 30.5Short-term insurance 11.6 2.8 2.8 2.8 5.7 8.3Funeral insurance 4.8ReinsuranceActivities auxiliary toinsurance 8.8 8.0 11.8 12.6 31.0 2.7 2.6Non-insurance relatedactivities 33.3Figure 1-1 shows the activities of the brokerages or agencies in the sector. Less than half (43.5%) of the brokerages were dedicated toone kind of product. The remaining 56.5% sold products on behalf of organisations in a variety of subsectors. Most (70.7%) of theorganisations sold short-term insurance while 49.9% sold life insurance and 24.9% sold collective investment products.Figure 1-1 Products sold by brokerages or agencies in the sectorSource: Inseta, Survey of Employment, Scarce and Critical Skills, May 20061.2.3 Employers by sizeFigure 1-2 illustrates the distribution of organisations and employees according to organisation size. The sector comprises a large numberof very small organisations and a small number of very large ones. The survey revealed that as many as 96.0% of the organisations hadfewer than 50 employees. In fact, two-thirds (66.0%) were micro-organisations that employed five or fewer people while 83.4% employedten or fewer people. The large organisations ranged between 150 and 14 000 employees and employed 73.1% of the workforce. Thesmall organisations (1 to 49 employees) employed 19.1% of the people in the sector.INSETA Sector Skills Plan - page 3