About STRIDE

The STRIDE project was initiated in 2009 as a joint venture between SAIA (South African Insurance Association) and the FIA (Financial Intermediary Association).  Discussions were started around legislative requirements in the ILAA (Insurance Laws Amendment Act) that requires insurers to have access to their client and policy data.  A decision was soon made to use this opportunity to also address historical inefficiencies in the industry with regards to communication methods between insurers and their binder holders.  The intention of the project is to enable real-time, efficient and cost effective communication across the short term insurance industry.

 

STRIDE is a secure and easy way of delivering data between insurers and binder holders.  The legislator merely wants the insurer to be in control of what it is on risk..  The STRIDE way of transmitting data will become the preferred medium for transferring insurance data because of its wide acceptance as well as the direct involvement of a number of product providers.

 

As such, STRIDE is seen as a key project in the sustainability of the short term insurance industry; not only will it enable increased data quality and availability, resulting in more efficient risk analysis, but will also enable insurers to comply to current and future legislation.