SSP Brochure:Layout 1 - INSETA

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2 THE DEMAND FOR SKILLS IN THE SECTOR2.1 IntroductionThis chapter deals with the demand for skills in the insurance sector. First of all, the discussion of current employment provides informationon the types of skills utilised and the occupational categories in which people are employed in the sector.The chapter also deals with employment trends including changes in total employment, changes in the occupational structure of the sectorand changes in the skills required in the sector.The last part of the chapter focuses on future employment. In order to obtain a sense of the number of new employees that will be requiredover the planning period, a simple demand projection model was developed. Projections of future demand take into consideration growthin employment as well as replacement demand caused by retirement, mortality and people leaving the sector.2.2 Current employmentEmployment in the formal levy-paying component of the sector at the end of 2005 was estimated at 102 400. If the sector grew by 1.9%per year, employment in 2007 would be approximately 106 000. The occupational distribution of the sector is illustrated in Figure 2-1. Theoccupational category clerical and administrative workers is by far the largest with 40.6% of all employees falling in the category. Thiscategory is followed in size by professionals (26.9%), managers (13.2%) and sales workers 11.1%. 42Figure 2-1 Employment distribution according to occupational categorySource: Inseta, Survey of Employment, Scarce and Critical Skills, May 20062.21 ManagersTable 2-1 indicates the main managerial categories in the sector. The relatively high percentage (10.2%) of managing directors and ownerscan be ascribed to the large number of small firms in the sector. The insurance sector provides employment to various specialist managersincluding general insurance managers, sales and marketing managers and financial managers.Table 2.1 Occupational distribution of managers in the sectorOCCUPATIONSPercentage of all managersManagers: unspecified 14.8Managing directors and owners 10.2Specialist managers: sales and marketing 9.4Specialist managers: insurance general 8.4Specialist managers: finance 6.7Regional, district, area and provincial managers 5.3Specialist managers: human resources 4.142 The occupational distribution presented here differs markedly from that given in the 2005 version of the SSP mainly because the new occupational classification system (theorganising framework for organisations – OFO) was used which places employees in different main categories compared to the standard occupational classification (SOC)used in the previous SSP.INSETA Sector Skills Plan - page 15
OCCUPATIONSPercentage of all managersSpecialist managers: corporate services and administration 4.0Specialist managers: claims 3.9Specialist managers: technical and operations 3.6Specialist managers: customer service and care 3.4Specialist managers: case 3.4Branch managers 2.9Specialist managers: brokers 2.7Specialist managers: information technology 2.6Specialist managers: contracts and projects 2.1Specialist managers: portfolio 1.7Specialist managers: risk and underwriting 1.6Total 90.8Source: Inseta, Survey of Employment, Scarce and Critical Skills, May 20062.2.2 ProfessionalsThe main professions found in the Survey of employment, Scarce and Critical Skills are listed in Table 2-2. The largest professional categorieswere insurance brokers and financial and investment advisors. Although a distinction may exist between these two categories in terms ofthe FAIS legislation, employers were not consistent in their use of the two occupational descriptors and in the distinctions that they madebetween the two. Consequently, the two occupational categories should actually be viewed together. Other professionals who wereemployed in fairly large numbers were claims assessors, accountants, business analysts and consultants, and underwriters.Table 2.2 Occupational distribution of professionals in the sectorOCCUPATIONSPercentage of all professionalsInsurance brokers 22.9Financial and investment advisors 19.2Claims assessors 11.0Accountants 7.8Business analysts and consultants 5.6Underwriters 3.7Client relations specialists and consultants 2.7Marketing specialists 2.5Attorneys, lawyers and legal advisors 1.7Financial investment managers and fund administrators 1.7Software and applications programmers 1.6Systems analysts 1.5Actuaries 1.3Training and development professionals 1.2Internal auditors 1.1Nurse practitioners 1.1Financial economists and analysts 1.1Human resources advisors 1.0Computer network and systems engineers 0.9Quality assurance advisers and specialists 0.8Total 90.4Source: Inseta, Survey of Employment, Scarce and Critical Skills, May 20062.2.3 Clerical and administrative workersClerical and administrative and sales and service workers form the bulk of the workforce in the insurance industry. The largest proportion(27.9%) of clerical and administrative workers can be classified as general clerks and administrators. Other occupations found in the sectorinclude client service administrators, insurance administrators, insurance clerks, general secretaries and claims clerks.2.2.4 Sales workersSales workers in the insurance sector consist mainly of insurance sales consultants, sales representatives, sales assistants and telemarketers.INSETA Sector Skills Plan - page 16
Page 5 and 6: Table 4.4 Scarce skills: clerical a
Page 7: EXECUTIVE SUMMARYBackground and met
Page 10 and 11: How the INSETA addressed Scarce and
Page 12 and 13: 1 PROFILE OF THE SECTORThe insuranc
Page 14 and 15: Table 1.4 Other activities of organ
Page 16 and 17: A major problem in estimating the n
Page 18 and 19: • The fact that the industry has
Page 20 and 21: Figure 1-6 Trends in net premium in
Page 22 and 23: Figure 1-9 Trends in collective inv
Page 24 and 25: additional staff. The technology al
Page 28 and 29: 2.3 Employment trends2.3.1 Changes
Page 30 and 31: Competition from other financial se
Page 32 and 33: 3 THE SUPPLY OF SKILLS TO THE SECTO
Page 34 and 35: Table 3.2 Population group distribu
Page 36 and 37: Figure 3-4 Senior Certificate passe
Page 38 and 39: Table 3.7 Qualifications awarded by
Page 40 and 41: 3.3.3 Further education and trainin
Page 42 and 43: Table 3.13 People to be trained in
Page 44 and 45: • The racial profile of graduates
Page 46 and 47: OccupationPosts difficult to fillSp
Page 48 and 49: Table 4.5 Scarce skills: sales occu
Page 50 and 51: The scarce skills identified in the
Page 52 and 53: Small business opportunity Subsecto
Page 54 and 55: 5.7 ConclusionsThis last chapter ou
Page 56 and 57: ANNEXURE APROFESSIONAL BODIES INTER
Page 58 and 59: Core component of BEE Indicators Ta
Page 60 and 61: Senior managementBlackMaleTOTAL MAN
Page 62 and 63: ANNEXURE ESCARCE SKILLS IN THE INSU
Page 64 and 65: OCCUPATION level ss Specialisation/
Page 66 and 67: OCCUPATION level ss Specialisation/
Page 68 and 69: ANNEXURE FCRITICAL SKILLS NEEDED IN
Page 70 and 71: OCCUPATION level ss52 Personal Assi
Page 72 and 73: ANNEXURE GINSETA BUSINESS PLANINSET
Page 74: The DoL requires all Councils to un

SSP Brochure:Layout 1 - INSETA

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