The Insurance Institute of Zimbabwe has introduced a new product
The Associateship Programme is a homegrown offering
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Zimbabwe's desire to produce a local insurance program with international
recognition has borne fruit, after the country's Insurance Institute announced
the launch of the Associateship Programme.
This is the first home-grown product introduced by the Zimbabwe
insurance industry and pioneers the start of more programs in this vein.
The rights for the programme were purchased from the Insurance Institute of
South Africa, with a $1 million grant that was awarded by the South African
Development Bank.
The importance of developing such a program was emphasized by Grace
Muradzikwa, the academic board chairperson of the Insurance Institute of
Zimbabwe.
"Our other major concern was to have a local product that is competitive but
also affordable to our professionals," she said.
Practitioners are given the choice of three subjects out of five, while they
are also obliged to study three compulsory subjects.
Subjects covered include insurance broking and reinsurance, risk and
insurance.
"Zimbabwe's insurance industry used to be the third largest after South
Africa and Egypt," said Herbert Ramshu, guest of honor at a graduation ceremony
for 45 insurance practitioners last week. "We have the capacity to regain that
position in a short space of time if we continue to educate our people."
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