We all know about the protection gap and financial sustainability and resilience goals for the developing world set by global bodies such as the World Bank and the United Nations.
We also know about the massive growth potential of many emerging economies and the role the insurance industry can play in enabling and accelerating its development.
This episode goes into the detail of how to approach this major opportunity and answers some common questions and upends many common misconceptions.
How much is insurance understood in developing nations? Is it seen simply as aid? Also how well are its strengths understood by donor nations? Should this kind of insurance be aiming for profit from day one, or should it be more patient?
How do we overcome modelling gaps and potentially crippling distribution costs in some of these nations?
Will the realities of harder international markets and Covid 19 put development goals on the back burner?
To answer these questions it was a great privilege to be joined by Dame Inga Beale and Lesley NdLovu of the African Risk Capacity Group (ARC).
Both have pioneered work in this field and give a strong and practical flavour to this podcast. I highly recommend a listen.
It might convince you that far from being just corporate social responsibility and the right thing to do, this is actually one of the brightest long-term opportunities in the global insurance market.
Today’s special episode has been organised by the Commonwealth Insurance Forum – the CIF and kindly sponsored by the ARC.
Set up in September 2019 the Forum was co-founded and is chaired by London market veteran Francis de Zulueta of Alpine Risk
Alpine Risk currently manages the CIF.
Co founded with Robert Lyle, co-founder of specialist London broker BPL, this not-for-profit organisation is seeking to ignite and accelerate insurance collaboration at all levels between the members of the 54-nation Commonwealth with the added support of the Commonwealth Enterprise and Investment Council.
The Commonwealth Insurance Forum has been formed as the UK is deepening and rapidly accelerating global trade links within the Commonwealth after leaving the European Union and will seek to build insurance co-operation, education and networking based on the common legal and cultural ties that bind the global Commonwealth of Nations together for the mutual benefit of all members.
LINKS
African Risk Capacity:
https://www.africanriskcapacity.org
The Forum can be contacted on Cif@alpineriskservices.com or directly via Francis de Zulueta on LinkedIn:
https://www.linkedin.com/in/alpine1/
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Ep 60 Fear breeds discipline, alignment and innovation: Talbir Bains CEO Volante Global
Ep 59 Jean-Jacques Henchoz CEO Hannover Re: Lean and keen
Ep 58 Talent and a willingness to take on risk: Julian James CEO International Insurance, Sompo International
Ep 57 Color outside the lines: Jim Stanard, Chairman Ariel Re
Ep 56 Like 2001, but completely different: Andrew Brooks CEO Ascot Group
Ep 55 Controlled aggression: Alex Maloney CEO of Lancashire Group
Ep 54 Taking a longer view: Eduardo Pérez de Lema CEO of Mapfre Re
Ep 53 No end game. The journey to Ithaka: David Howden CEO Howden Group Holdings
Ep 52 Vanessa Macdonald-Smith of Oneglobal broking: Putting people before numbers and enjoying the fun of the chase
Special Episode: Technical Debt and how to get out of it, with Bart Patrick of Duck Creek Technologies
Ep 51 David Walsh and Graeme Newman of CFC Underwriting: 20% organic growth forever
Ep 50 John Neal: Putting the Lloyd's halo back in place
Ep 49 Tim Turner: This is not a re-run of 85-86
Ep 48 D&O: The hardest market of all time with David Ritchie of Gallagher UK
Ep 47 Pat Ryan: Build a business people are proud to work for
Ep 46 The Best Market for a Decade: David Croom-Johnson MD Aegis London
Ep 45 Selling certainty, with Stefan Golling Chief Underwriter Munich Re
Ep 44 Juan Andrade of Everest Re: An Underwriter’s market
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