23 Feb 2015

First Mutual Reinsurance (FMRE) Property and Casualty Botswana last week conducted a workshop for the insurance officials in Botswana on the re-insurance skills.

Speaking at the beginning of the workshop, the FMRE Botswana managing director, Mr Ian Tavonesa said the move was aimed at building capacity amongst the insurance companies in the country, as the concept of re-insurance may be relatively new in the country, though the practice itself was not necessarily new in Botswana.

Mr Tavonesa said they wanted to be one of the biggest re-insurance companies in Botswana as well as in the continent, and that they also want to provide a superior service to their clients and shareholders.

The two day stakeholder training forum’s focus was on agricultural insurance and effective claims management.

Its objective was to further capacitate the re-insurance market and it was also part of an ongoing process of providing technical and practical expertise to insurers.

Mr Tavonesa said capacity building was a commitment FMRE had made to the local market, and their stakeholders and to Non-Bank Financial Institutions Regulatory Authority (NBFIRA).

He stated that at FMRE, they emphasise practical training as they believe it enhances and develops the range of one’s skills set.

He said the training on agriculture insurance was an initiative by FMRE to align their strategic objectives to that of government’s call for diversifying the economy and reducing the country’s dependency on mining. 

The MD said as a leader in the Southern and East Africa re-insurance landscapes, FMRE had embarked on expanding their agriculture-insurance expertise beyond their operational footprint in Southern Africa.

He said their main was to listen and address the market needs and recognises that the industry sometimes lacks comprehensive knowledge on how to package suitable covers and distribution channels that were cost effective.

He also noted that FMRE recognised a need in the market for better assistance in managing claims which was a critical component in insurance.

In 2013, the FMRE Property and Casualty conducted a workshop for the media personnel on re-insurance also as a move to building capacity.

“And it is through endeavors such as these training forums that we hope to establish FMRE Property and Casualty as a formidable contributor to the re-insurance industry in the country that is committed to efficient service delivery and developing quality skills,” said Mr Tavonesa. 

FMRE Property and Casualty was established in 2003 as First Mutual Reinsurance and it is a dominant player in the Zimbabwean insurance industry and underwriters significant business from the African continent.  ENDS