Santam to train 500 black brokers by 2012

Xolile Bhengu

Xolile Bhengu

Santam is planning to train 500 black stockbrokers by 2012 to influence transformation in the sector.

The short-term insurer said the initiative would focus on three broker groups, including start-up brokers, novice brokers, and advanced brokers.

The head of broker services for Santam, Quinten Matthews, said the company would provide development facilities, training and guidance for the new brokers.

Matthews said coaching and mentoring of brokers would be provided to ensure that they developed at their own pace.

The company will seek the support of the government and industry, including existing brokers, in order to ensure the programme's success.

"Our intention is to ensure that they become fully fledged, independent brokers who are capable of participating effectively in the short-term insurance industry.

"To ensure the sustainability of this initiative, the project will have a long-term focus. It will beimplemented overthe next five years, with a pilot phase commencing this month, and oncompletion of the pilot in June, a comprehensive rollout plan will be determined," Matthew said.

Santam said it was hopeful that the project would gather sufficient momentum to encourage more black brokers into the industry.