Risk financing and insurance placement

It’s the finale… who will be crowned winner of The Insurance Apprentice 2021?

In episode eight, sponsored by Marsh, Head Judge Simon Colman, Business Head of Digital and Financial Lines at SHA Risk Specialists and guest judges Matthew Bezuidenhout, Head: Risk Finance and Captive Solutions at Marsh and Nox Dlamini, Managing Director at XonRisk present the brief of the task and what the contestants will need to do.

Brief outline

Mega Pharmaceutical Global (MPG) is a global specialty and branded pharmaceutical manufacturer with presence in both emerging and developed markets listed on the Johannesburg Stock Exchange. The company manufactures, markets, and distributes a wide range of healthcare products and is a leading supplier to both the private and public sectors of the market.

MPG is a level three B-BBEE contributor, improving the health of patients across the country through high quality and affordable medicines. With a track record of more than two decades in the pharmaceutical sector, the company provides critical medications across South Africa and has approximately 2000 employees across all critical care, storage and distribution sites.

For this task, MPG’s board (the judges) has hired a team (the contestants) of experts in risk financing and insurance placement.

The task

The contestants were required to investigate different options of risk retention strategies and present their chosen solution/s.

They were required to research, investigate and prepare an integrated risk retention solution that meets with MPG’s insurance programme. It’s important to note that the contestants did get the task a day or two before the actual presentation to give them ample time to prepare a proper presentation… it is after all the Marsh task, which is well know for not being an easy one.

Contestants were given a last five minutes to wrap up presentations, but before the five minutes was over, a curveball was thrown their way… the bottom-line was that the board only had time for three presentations, and not four, as originally planned. Contestant had to present a 30 second pitch of their presentation, convincing the board that they have the solution. After the four pitches, the contestant with the worst pitch had to leave… and it was the end of his/her road. Who was it and what was so dismal about the pitch? 

It was then over to the last three… which was ultimately the presentation of the season, because this was going to make one of them a winner… and the others almost winners.

Find out who the winner of The Insurance Apprentice 2021 is.

Watch it here

We would like to thank Marsh for sponsoring episode eight of The Insurance Apprentice 2021.

1. To watch the episode on YouTube, click HERE
2. To watch it on the website click HERE
3. To watch it on Facebook, click HERE

Can we just remind you of the prizes that are at stakes?

The WINNER wins:

• 1 year access to the Lloyd’s virtual mentorship platform; Introduction to Lloyd’s virtual seminar (value R2000); Sponsorship of a unit module of the winner’s choice at the Chartered Institute of Insurance (CII) in the UK (value R3000) or R3000 paid directly to CII if the course exceeds R3000; Sponsorship of a Gordon Institute of Business Science (GIBS) short course of the winner’s choice (value R50 000) or R50 000 paid directly to GIBS if the course exceeds R50 000; and cash prize of R20 000, sponsored by Lloyd’s of London;
• A bursary worth R75 000 at any public university, sponsored by Inseta;
• R10 000 CASH from Tracker;
• R30 000 CASH from Auto & General;
• A Garmin watch from Genasys;
• The winner attends the African Insurance Exchange (AIE) conference; and
• A one year coaching and mentoring package to the value of (R30 000) sponsored by Ultraverse Consulting.

The TOP 3 win:

• A hospitality prize package, sponsored by Bryte Insurance; and
• A 6-month coaching package to the value of (R18 000), sponsored by Ultraverse Consulting.

The TOP 10 win:

• AIG is sponsoring a professional photoshoot for the TOP 10;
• Each of the 10 contestants will receive a gift bag filled with goodies, from Santam.
• Simply Financial Services is sponsoring vouchers to the value of R1000 for Bathu; and 
• A coaching package to the value of (R8 000), sponsored by Ultraverse Consulting.

What’s not to like? So many giveaways for the winner, Top 3 and Top 10, plus a whopping R60 000 in CASH!  

Apply for TIA 2022

TIA 2022 is open… enter, enter, enter! If you are younger than 35 and have been working in the short term insurance industry for four or more years then this is your chance.

Take the step and apply… you have nothing to lose!