Africa Travel Week
#SouthAfricaisTravelReady

ATW Podcast

Together we stand; divided we fall

SATIB reached out to competitor brokers in the tourism and hospitality space, to stand together and lobby Insurers, united as a collective, and continue motivating for a special fund to be set up for the benefit of all stakeholders in the tourism and hospitality industry.

Through true grit, focus and collaboration, not seen for many years, we have come together as a tourism industry under the banner of #SouthAfricaisTravelReady”, cooperating for one vision of a September 2020 reopening in a bid to save over a million jobs.

This is thanks to the big-picture thinking of an industry which has chosen to collaborate, instead of compete. We are proud to be part of an industry which understands that ‘alone we can do so little’ and ‘together we can do so much’.

While we have been standing shoulder-to-shoulder as we battle this COVID crisis, our SATIB team has shared the frustration, anger and sadness that you have felt in the past months. We have been fighting on your behalf for business relief; it has been a difficult fight and we’ve often felt disappointed and just as frustrated, as you have, at how things have been playing out.

You have inspired us, by standing together, to challenge what more we could be doing to help you. And so, we have taken the decision to reach out to our competitor brokers in the tourism and hospitality space, to stand together and lobby Insurers, united as a collective, and continue motivating for a special fund to be set up for the benefit of all stakeholders in the tourism and hospitality industry.

The Financial Intermediaries Association (FIA), will be lobbying the Financial Sector Conduct Authority (FSCA) which regulates the Insurance industry. Given the current situation, the FSCA themselves are currently looking at the relevant policy wordings.

Alongside this action, the FIA, who represent approximately 2 000 financial services providers, have created a sub-committee of experts, including SATIB executive, who will be challenging Insurers on certain points, not least around the framework of Treating Customers Fairly to which the Insurance industry is upheld.

Separate to this, we continue to lobby on your behalf directly with all Insurers in the tourism and hospitality space – not just for business relief now, but also to understand what will need to change when some level of normality returns and it will, eventually. These discussions are at an advanced stage.

As a tourism and hospitality industry, we want to shape what that looks like and that means together we have an opportunity to reimagine what risk transfer should look like in our space in a time of COVID-19 and beyond, so that never again we will have to endure what we’ve endured as an industry. To that end we are engaged with industry Think Tanks including stakeholders within all channels.

It seems rather poignant that all this is happening on the anniversary of our 2010 World Cup. Ten years ago, we welcomed the world with a waka waka and vuvuzela choruses filling the air. Today we go out with the messaging that once again, we’re ready to welcome the world.

Ke nako  #SouthAfricaisTravelReady 

SATIB

With 30 years at the forefront of insurance in the tourism, hospitality and leisure industry in South Africa, SATIB is committed to the future of the industry. Not only do clients have a level trust and comfort in SATIB’s track record, but an assurance that SATIB is working hard to implement the best solutions for their clients and is focused on ensuring our industry emerges in the best shape possible.