From over 50 contestants, we are now down to six. In the previous episodes we have seen tensions rise, ruthless eliminations, victorious celebrations and lots of mics muted - all in the search for this year’s ambassador of the South African short-term insurance industry.
At this stage of the game, the competition is extremely tough, as we will only be taking four contestants into this season’s finale. May the best of the best prevail!
This episode, brought to you by Marsh, will challenge the contestants’ insurance knowledge and understanding.
Renewable energy
A thorough understanding of the global risk environment and dominant themes is necessary for firms operating in today’s competitive marketplace. One of the themes is climate change and sustainability.
The Global Risks Report 2022 (GRR), published annually by the World Economic Forum (WEF), mentions that “With every passing decade ever since the world witnessed the industrial revolution and used natural resources of energy (fossil fuels) for its growing energy requirements, the world has today come to the brink of over exploitation. There is every danger of leaving little for our future generations.”
It is estimated that annual investments of USD 120 billion are required to close the energy gap by 2040 in Africa, with renewable energy investments of USD 2.7 billion in Africa, in 2022.
Private Equity firms can meet their own sustainability goals by continuing to invest in renewable energy.
The risk and insurance adviser
With judge Simon Colman, and guest judges Shivan Hutton, Managing Director, Head of Marsh Specialty, Africa and Nox Dlamini, Managing Director at XonRisk in tow, the contestants are divided into groups.
They are asked to consider themselves as the “risk and insurance adviser” to a Private Equity (PE) firm, that is reviewing a potential acquisition of a renewable energy company into their portfolio.
Their task is to report back to the PE firm with a review of the Environmental, Social, and Governance (ESG) scoring highlighting positives and negatives, comment on the quality of the cost versus benefit of the existing insurances and provide a “red flag” status summary, which highlights any glaring issues that need to be addressed, should the PE firm decide to go ahead with the acquisition.
Did they meet the requirements?
Watch it here
We would like to thank Marsh for sponsoring episode eight of The Insurance Apprentice 2022.
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Let us know who you think is most likely to be crowned The Insurance Apprentice 2022. Be sure to comment, like and share this episode. Be sure to tune in again, same time, same place, next week!
Prizes for the 2022 Season
Winner
Top 4
Top 6
Top 12
THE CPD FACTOR
Earn Continuous Professional Development (CPD) for every episode you watch. Register on the FAnews portal (www.FAnews.co.za), read the article and answer eight questions.
Each episode will carry 0.5 CPD hours.
APPLY FOR 2023
TIA 2023 is open... enter, enter, enter!
If you are 35 or younger and have been working in the short-term insurance industry (any part of it) for four or more years, this is your chance. Take the step and apply... you have nothing to lose! Visit www.TheInsuranceApprentice.co.za for more information.
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