We take a strategic view of transformation; fully committing to the intention of empowerment and implementing it to the benefit of our business, customers, shareholders and the larger community.
We have chosen to partner with The Maharishi Institute (MI) in an innovative transaction that delivers shared value for ourselves, MI and the youth of South Africa from disadvantaged communities, while also supporting our country’s education and employment imperatives.
As a business committed to playing its part in the transformation of South Africa’s insurance sector, we innovated – in partnership with MI – to structure a partnership that enables us to build a new distribution network and expand its claims processing and policy administration capabilities.
The MI partnership secures a strategic advantage for Bryte in the market by facilitating our strategy to expand our claims processing and policy administration capabilities. This partnership will enable Bryte to access trained graduates who can be used as future employees and agents.
The Maharishi Institute (MI) is a learning institution that provides education access, skills development path, personal development tools, and a supportive environment to young South Africans from disadvantaged communities. The partnership is aimed at extending access to tertiary education and facilitating transformation within South Africa’s insurance industry by growing the next generation of insurance professionals.
This relationship will achieve the advancement of Bryte’s business objectives, through investment in a new distribution channel, the expansion of its capability in claims processing and policy administration and will also deliver significant societal impact in the form of tertiary education and workplace skills training.
We invest in long term partnerships with our brokers, our employees, our suppliers and customers. This relationship with MI is the next step in Bryte’s partnering approach. It has been structured to secure a shared value collaboration that delivers on our mutual commitment to securing positive impacts for all involved.
As part of our proactive approach to risk – driven by insights and foresight – we are committed to identifying and developing professionals with an agile, entrepreneurial mindset that ensures the next generation of successful, transformed insurance professionals. We believe MI is the right tertiary institution to help deliver on this goal and have committed to provide insurance training to more than 1,000 students over a 10-year period.
We are thrilled to be partnering with MI, a tertiary institution that is innovating around societal challenges, to identify and overcome many of the educational obstructions defeating South Africa’s youth.
Our partnership will assist MI in reducing state dependency, creating an insurance specific post-graduate qualification and securing access to a high-quality, inexpensive international qualifications for young people who have been excluded from traditional tertiary opportunities.
Bryte has partnered with the Maharishi Institute (MI) which is led by Dr Taddy Blecher has been in existence since 2000. The Institute has produced well over 18,500 graduates and have a target to educate approximately 100,000 by 2025.
What does this mean for us as customers?
This partnership does not impact the policies or agreements you have in place with Bryte. It is however, aimed at facilitating a more inclusive and transformed society, one that will benefit every South African and our economy.
If it makes no difference to my business/portfolio, why tell me about it?
While the partnership does not impact the policies and agreements you have with Bryte, we are excited about the opportunities it presents for our business, the insurance industry and overall socio-economic advancement. We believe that it is the responsibility of every business to play its role in facilitating transformation and are strong believers of education’s potential to elevate both our economy and society. The entry of more young professionals with fresh ideas influenced by their diverse backgrounds can only deliver a multitude of benefits, not just for the insurance industry but also your business and ours. We are thus proud to be a proponent of this empowerment journey.