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THe IIZ Digest

Volume 24

April

Mark the Dates:

  • Friday 15 June 2018 | Golf Tournament | Chapman Golf Club
  • Friday 20 July 2018 | Annual Graduation | Meikles Hotel
  • Sun 19 – Wed 22 August 2018 | Winter School
  • Sun 11- Wed 14 November 2018 | Annual Conference
  • Friday 7 December 2018  | Annual Dinner & Awards Ceremony

INSIDE THIS ISSUE:

5 Cyber insurance trends to watch for in 2018
Motivational Article
Upcoming Events

From IIZ

WELCOME BACK—HELLO 2018!!! Greetings and a warm welcome to our very first issue of the Newsletter for 2018. We couldn’t be more excited to have made it to this point as you. This year promises to be a year of significant and transformative change. Every new beginning comes from some other beginning’s end, and the beginning of the calendar year is at its heart a fantasy of newness and clean slates. It is a chance to do things differently, paying more attention to detail and purpose. With today’s customer questioning old habits, brands and products, seeking new meaningful innovation on products as never before, the era of transformation is upon us and let us be geared for it.

The purpose of this newsletter is to keep you informed, educated and most of all motivated. We are honored to have you read our articles. Also as previously indicated, feel free to comment on the articles and sharing your thoughts . This year is filled with a lot of activities for both our benefit and we thank you for your continued support.

Lastly, we close by bidding farewell to 2017 poor performers and wishing you a great and successful 2018! Our feature articles for this month will focus on:-

  1. “5 cyber insurance trends to watch for in 2018”
  2. “Do what you love to do and give it your very best.”

IMPORTANT NOTICE:

Do not miss out on the COP IN Retirement Fund Trusteeship Exam preparatory course to be held on the 17th of April 2018. Registration is now open. Tell a friend to tell someone and register today.

Editor | Ruvimbo Vambe

.
PLEASE TAKE NOTE REGISTRATION FOR APRIL EXAMINATIONS HAS SINCE CLOSED. REGISTRATION FOR OCTOBER EXAMINATIONS IS NOW OPEN…REGISTER TODAY!!!

“Providers want to work
with partners, such as
reinsurers, that have a
proven reputation for
communicating quickly.”

“Reinsurers respect a
company that maintains detailed and reliable information, making them easier to work with.”

“What doesn’t kill you
make you stronger, you
give something stress,
allow it to rest and then
when it comes back, it
will come back stronger
than it was before.”

Better Communication Is Key For The Reinsurer-Insurer Relationship!

By: Craig Robinson, Sapien —An inability to communicate effectively can obviously harm relationships. Renowned author and psychology professor, Dr. John Gottman, cites “stonewalling” as a major predictor of divorce among married couples. Being unresponsive can also harm businesses, including insurers. Providers want to work with partners, such as reinsurers, that have a proven reputation for communicating quickly, honestly and effectively. And reinsurers desire the same from carriers. It’s essential in today’s connected, social media age to be able to provide accurate information immediately.

New reinsurance market representation, with substantial investments from the alternative capital, magnifies the fact that insurers want and even need to work with reinsurance companies that are responsive, agile and customer-centric. But insurers also know that they must be able to communicate in a reciprocal fashion with the reinsurer to make the relationship work.

Now that we’ve identified an important problem, how can we solve it? Investing in a modern, ceded reinsurance system will dramatically improve communication on both sides of the insurer-reinsurer relationship, as well as with customers. The system will automatically attach
policy and claims to reinsurance contracts, creating all the session, bills and regulatory reporting necessary. Reinsurers appreciate faster response times to their requests for more information when claims are billed, just as timely payments for premiums help establish insurers’ credibility.

The billing component of the system will automatically and seamlessly support multiple currencies and legal entities to ensure that operations can support all sources of financial data processed by your business. Your system will have the ability to fully and automatically analyze your risk exposures and KPIs across books of business, even as claims are processed and exposures change. This information can be shared with your reinsurers during contract negotiations. Your reputation for better record keeping and information sharing should help you improve the rates you negotiate. More renewed contracts will result because reinsurers know you are easy to work with, competent and responsive.

Carriers who take advantage of the opportunity to invest in a robust, ceded reinsurance system will become agiler in their operations, reduce long-term operating costs, and gain the benefits of quickly and accurately responding to reinsurers and market needs, improving client communications. Reinsurers respect a company that maintains detailed and reliable information, making them easier to work with.

“Finding Motivation Through Fear!”

Have you ever wondered how doing things that make you uncomfortable and might not even work is a source of motivation? There is a concept called hormesis in biology, a phenomenon by which something that could significantly impair or even kill you in high doses can make you stronger in low doses. What doesn’t kill you make you stronger, you give something to stress, allow it to rest and then when it comes back, it will come back stronger than it was before.

When you throw yourself into the deep end of something new, you often face a steep learning curve. That forces you to grow, adapt, change and develop your skill set. It’s almost irrelevant if the particular project ends up succeeding. The very act of taking on something new helps you become better at your work overall. You can not stay in the deep end forever because that is a recipe for disaster. So in life, we always dive into the unknown and that is what’s called an adventure.

Yes, true adventures are not for everyone, they are scary and intimidating. But making a habit of seeking adventures, in spite of how scary they are, maybe the secret to staying motivated about the things you do. Learn to step out of your comfort zone and do the unthinkable or imaginable. Set into the unknown, face hardships, rest and then come back strong.

When you throw yourself into the deep end of something new, you face a steep learning curve. That process helps you to grow, adapt to new things and grow a new skill set. It’s almost irrelevant if the particular project ends up succeeding. The very act of taking on something new helps you become better at your work overall.

And that, if nothing else, confers a key economic benefit onto anyone who experiences it. Even if we set aside all the tangible benefits that come from stepping outside our comfort zone, it is intuitively obvious that being more excited about your work is a surefire way to improve your performance – and turn your various ventures into adventures.

IIZ ANNUAL FUNDRAISING GOLF TOURNAMENT – FRIDAY 15 JUNE 2018

“If you think its hard to meet new people, try picking up the wrong golf ball.” IIZ brings you yet another exciting fundraising golf tournament at the Chapman Golf Club on the 15th of June 2018. It’s another Par-Tee-Time for a round of Golf. Lot’s of exciting prizes to be won. Register today for Exhibition, Sponsorship and Participation. Call us today for more information!!!

IIZ GRADUATION CEREMONY | FRIDAY 20 JULY 2018 | MEIKLES HOTEL

This is that time of the year where we celebrate and congratulate the class of the previous year for a job well done. They fought their battles and overcame obstacles. They had a goal, gave it their soul. They worked hard, went the extra yard. They gave it their all, and stood tall. Congratulations class of 2017!!! Graduation will be held for all levels of qualification, from COP, Diploma and Associateship. See you there!!! Call us today for more information!!!

WINTER SCHOOL | 19 – 22 AUGUST | TROUTBECK NYANGA

Join us at this year’s Winter School as IIZ partners with the Insurance Industry aiming to avail a platform for training and development of future leaders in the insurance industry. Leaders who will make things happen; who will maintain the image of the Insurance Industry and build it to lofty heights from the foundations the current leaders are laying. The theme of the 2018 Winter School is “Driving Growth—Disrupting the Mind-set Completely.” Call us today for more information!!!

IIZ ANNUAL CONFERENCE | 11 – 14 NOVEMBER | ELEPHANT HILLS RESORT

IIZ brings you a high powered delegate of quality speakers at this year Annual Conference to be held in Victoria Falls. Don’t miss out on this annual event which is held to continue the fine tradition as an excellent educational, networking and social conference. Be part of the 200+ delegates expected at this year’s event. Come and be part of an exciting experience, share your expertise and learn from the best! Call us today for more information!!!

IIZ ANNUAL DINNER | FRIDAY 7 DECEMBER 2018 | MEIKLES HOTEL

We close down the year with this august event where people from all sectors of the industry gather to celebrate the milestones achieved in the year. Come and dine with us as we celebrate a successful and fruitful year. This year we are having an exciting theme…watch the space!!!

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