Bryte Insurance (Bryte), the proactive business risk specialist, has announced its partnership with The Maharishi Institute (MI) which provides education access, skills development path, personal development tools, and a supportive environment to young South Africans from disadvantaged communities. The partnership will facilitate Bryte’s objective to expand its claims processing and policy administration capabilities as well as develop a new distribution network. This partnership will enable Bryte to access trained graduates who can be used as future employees and agents.
Within the South African context, the critical shortage of young professionals in the insurance industry is a growing concern. Bryte’s partnership with MI will therefore focus on accelerating awareness of the lucrative career prospects available within the industry as well as the financial services sector, driving significant progress in the industry’s goal for transformation by growing the next generation of insurance professionals.
Speaking on the partnership, Bryte CEO, Edwyn O’Neill, commented, “Bryte is committed to playing an active role in achieving a more transformed society – one in which every South African is able to participate and benefit. We have a long-established legacy of driving youth development and access to quality education and we are delighted to be able to combine this focus with developing professionals with agile, entrepreneurial mindsets who will take the industry – and the economy – forward.”
“We are therefore proud to partner with Maharishi – an organisation that is an excellent example of what is possible in the country’s quest for quality education. The Maharishi Institute has been immensely successful in innovating to address societal challenges and helping deserving candidates overcome a key barrier to an empowered future.”
The economic growth impact of producing more graduates is immense; statistics suggest that individuals with tertiary qualifications could potentially benefit from a 67% rise in income. In addition to extending tertiary access to more students, as part of this partnership, hundreds of Maharishi students will receive a further opportunity to benefit from insurance training through Bryte, where they will benefit from workplace experience.
“Facilitating the workplace entry of more young professionals with fresh thinking can deliver a multitude of benefits for the South African economy,” said Dr Taddy Blecher, CEO at The Maharishi Invincibility Institute. “MI has produced more than 18,500 graduates since 2000 and we firmly believe that through the support of partners like Bryte, we will be able to accomplish our ambitious target of 100,000 graduates by 2025.”