BIPSA was formed by professionals within the Insurance Industry who saw a need for transformation of the insurance industry and development of black professionals within the Insurance industry in the various sub-industry groups including short-term, long-term, employee benefits, risk management, health, pension administration, investment and specialized risk.
The association is and will remain non-racial, the main focus, however, being Black professionals due to the shortage of skills amongst the Black professionals within the industry and little or no development of Black Professionals.
The policyholder is the person in whose name the policy is registered. It may or may not be the same person as the one who stands to benefit from it. For example, one may take out a life policy and although you are the policyholder that policy will eventually be paid out to someone else. Most policies are payable to the policyholder but he or she has the right to make it payable to someone else.