Short-term insurer reports 100% pass rate and employment placement for 2024 learnership graduates

GENRIC Insurance Company Limited, a member of the Old Mutual Group, has demonstrated the effectiveness of its learnership and internship programs in addressing South Africa's paradoxical job market – where high unemployment coexists with critical skills shortages in industries like insurance.

In a notable achievement, GENRIC's 2024 learnership program saw all 20 participants successfully complete their qualifications with a 100% pass rate. Several learners have since been appointed into full-time positions within GENRIC, while others were supported through a partnership with the IISA to secure interviews across the insurance sector — a testament to the program’s success in developing job-ready professionals.

"The key objective of learnerships must be gainful employment and career progression," said Melanie du Plessis, Head of Human Capital at GENRIC. "It serves absolutely no purpose, and in fact only fuels misery and despondency, when young people become perpetual learners on one or other tick-box learnership programme, but do not then progress into gainful employment."

GENRIC's investment into learnerships and internships addresses a critical national challenge, with youth unemployment approaching 50% according to recent Stats SA statistics¹, while graduates with a tertiary qualification face an unemployment rate that has doubled to 10.6% since 2013.²

Learnerships - Building a Skilled Workforce with industry focused learnerships

An unemployed learnership program in partnership with The Graduate Institute of Financial Sciences (GIFS) is GENRIC’s cornerstone initiative aimed at equipping young individuals with the necessary skills and knowledge to excel in the insurance industry and get an NQF-recognised qualification.

Upon completion of the learnership, candidates attain a Short-term Insurance qualification, providing them with a strong foundation to pursue a career in insurance. GENRIC also supports learners in writing their Regulatory Examination to meet the Fit & Proper requirements mandated by insurance industry regulators. This not only empowers learners but also ensures that they meet the necessary criteria for various roles within the insurance sector, whether that is within GENRIC, or the broader insurance market.

Melanie points out: “Absorbing learners into permanent roles after completing their learnership is always the ultimate goal. In our 2024 intake, we achieved a 100% pass rate — a first for us and a milestone we're incredibly proud of. Some of the learners have since been absorbed into full-time roles within GENRIC, while others were supported through our partnership with the IISA to access interview opportunities across the insurance sector. This success is the result of the strong mentorship investment we make in every learner — providing them with resources, coaching, management oversight, and essential support to prepare them for employment beyond the learnership,” explains Melanie.

GENRIC’s 2025 learnership intake of 20 learners recruited in October 2024 have already commenced with their practical work experience component of the learnership programme and have been paired with experienced professionals within the business who guide, inspire, and equip them with the skills they need to thrive.

Internships for graduates to build on the job experience

Success stories like those of Prince Tsotetsi and Kgomotso Nkoana exemplify the success of GENRIC’s internship program.

“Our collaboration with Ekurhuleni West College has proven instrumental in building a pipeline of new talent by ensuring that graduates get the real-world, on-the-job practical experience that employers so highly value. These internships typically last for 18 months and at GENRIC we ensure that they get to actively participate in various aspects of the insurance value chain – from product development to underwriting to claims management to finance and operations to customer service and more,” explains Melanie.

GENRIC’s internship program is tailored to meet the specific requirements of each learner's respective diplomas, ensuring they receive relevant and practical experience aligned with their respective logbooks.

Prince Tsotetsi joined GENRIC in June 2022 as an intern with a diploma in Financial Management. In 2023, GENRIC offered him a study bursary to pursue his Short-Term Insurance NQF Level 5 qualification, and in the same year, Prince was offered a permanent position in the finance department. His responsibilities have steadily increased, and beyond his current role, Prince has already started to give back by acting as a mentor and role model for GENRIC’s new interns.

Kgomotso Nkoana's journey with GENRIC began in April 2017 when she joined the company as an intern with a National Diploma (N6) in Business Management from Ekurhuleni West College. By October 2018, she was offered a permanent position and in July 2019, Kgomotso was promoted to an Underwriting Administrator. It was during this period that she truly began to understand the complexities and nuances of the insurance industry. By November 2021 she was promoted to Team Leader. Continuous learning has been a cornerstone of Kgomotso's professional growth - in 2019, she completed a Leadership Program through GENRIC and GIFS, she completed the Regulatory Examination 5 (RE5) on her first attempt through Moonstone in 2021 and earned a Level 4 Short Term Insurance qualification from GIFS, all supported by a GENRIC bursary. Currently, Kgomotso is pursuing a Bachelor of Business Management (BBM) through GIFS, with the support of a GENRIC bursary.

"We’re not just investing in learnerships and internships – we’re investing in people, and notably, young South Africans. This is one of the most rewarding and strategically important things we have done for our business, our economy, society, and especially, the young people who find meaningful and rewarding careers in risk and insurance," concludes Melanie.