By: Munich Re
Munich Re launches LIMA programme ‘to cultivate’ future insurance leaders
Leading reinsurer Munich Re of Africa (MRoA) launched an innovative leadership development programme at a formal dinner held to coincide with the 46th African Insurance Organisation Conference and Annual General Assembly, taking place at Emperor’s Palace, Johannesburg from 8-12 June 2019.
“We are happy to announce a major investment in skills development on the African continent through the launch of our LIMA programme, which aims to train future-proof insurance practitioners to ensure that the insurance and reinsurance industry remains relevant into the future,” said Belhassen Tonat, Head of Short-term Insurance at MRoA. The LIMA acronym is derived from Africa’s Nguni languages, where ‘LIMA’ translates as ‘to cultivate’ and stands for Leadership Inspiring Mutual Advancement.
“Munich Re has a responsibility to create value for our clients, make profit for our shareholders and contribute to the development and wellbeing of our employees as well as playing a role in the sustainability of our industry” said Tonat, who was presenting at the LIMA programme unveiling on the evening of 10 June. He said that individuals working in the industry faced many challenges including the threat of automation, the application of artificial intelligence in underwriting and new technology in the area of client interfaces, to name a few.
The LIMA programme was born out of MRoA’s desire to develop skills, advance leadership and encourage thought leadership that is relevant in a fourth industrial revolution (4IR) world. It will empower participants to build their careers against the backdrop of two major trends playing out in the industry today. “The future of our industry is closely linked to innovation and technology and digitalisation,” said Tonat. He added that firms needed to be innovative to bring the right product to the right market – and remain vigilant about how technology and digitalisation would redefine every aspect of insurance business.
Nico Conradie, CEO of MRoA said that the LIMA programme was one of many Munich Re training and education initiatives aimed at growing and developing talent in the industry. “The programme is a valuable tool to address development issues and will help Munich Re and our clients to grow and up-skill our respective businesses,” he said. He encouraged industry stakeholders to identify shortcomings, share experiences and find ways to improve their respective businesses, together.
LIMA will cultivate thought leadership in Africa by taking participants through a combination of classroom-based courses and ongoing post-classroom dialogue sessions. The programme focuses on holistic personal development covering both technical and soft skills and is futuristically geared towards digitalisation, data analytics and other new and emerging technologies.
“We see LIMA as an investment in the future – programme participants will benefit from the knowledge we have gained in each of the many country markets we operate in,” concluded Tonat. “Munich Re is a global player that has roots in Africa and South Africa spanning over 50 years – we look forward to expanding the boundaries of insurance and readying ourselves, our employees and our clients to meet the challenges in the 4IR world head-on.”