Africa-Press – Mauritius. Sixty employees of insurance companies received, yesterday, their certificates during an Award Ceremony held at SICOM Tower, in Ebène, after having successfully completed an eight-month Skills Development training programme in Insurance at the Financial Services Institute (FSI) Mauritius.
The training was offered under a partnership between the FSI and the Insurers Association of Mauritius with the support of the Human Resource Development Council.
The Chief Executive Officer (CEO) of the FSI, Mr Mohamed Khan, the Secretary General of the Insurers Association of Mauritius, Mr Vashish Ramkhelawon, and other personalities were present at the Award Ceremony.
In his address, Mr Khan extended his appreciation to stakeholders and participants alike for making the training programme a reality and a success despite the challenges posed by the COVID-19 pandemic.
He observed that the course was unique in that it dealt with hard and soft skills needed in the field of insurance. It is crucial to build capacity across the board since customer experience has overtaken price and quality when it comes to loyalty, he remarked.
In addition, the CEO expressed confidence that participants have acquired a certain amount of knowledge and are more upskilled and will be able to discharge their responsibilities and differentiate between risks as insurance jurisdictions are just important as banking institutions.
For his part, Mr Ramkhelawon emphasised that the insurance sector is the risk absorber of Mauritius by bringing stability to the financial system and balance to the social and economic development of the country.
Mauritius, he highlighted, has a very well-developed insurance sector that offers a wide variety of products. This industry is very deep-rooted and its business model has kept transforming over the years even now through digitalisation, the Secretary General pointed out.
For him, the growth of the industry, which is very customer-centric, will rest a lot on talent, knowledge and trust and this is why stronger skills and commitment are required.
He also spoke about the importance of having strong institutions that offer continuous learning experiences especially given that the insurance sector is an ever-evolving one. While congratulating participants on their success, Mr Ramkhelawon expressed hope that they will embark on a new chapter in their career.
The Skills Development training programme in Insurance spanned the period January to August 2021 and covered the following aspects: the insurance industry, the regulatory framework, value-chains, underwriting, policies, claims and complaints.
It is recalled that the setting up of the FSI was announced in Budget 2015/16 with the aim to provide specialised training courses that are focused on the needs of the industry. The FSI operates as an autonomous training institute under the aegis of the Ministry of Financial Services and Good Governance.
With unique access to the latest industry news and insights, the Institute delivers first-class training programmes in more than 20 different topic areas including: Board Readiness Development Programme for Directors; Leadership; Corporate Governance; Governance, Risk and Compliance; Financial Crime Compliance; Risk Based Supervision; AML/CFT for Auditors (Testing the lines of defense); Insurance 360; Disruptive Technologies – AI, Fintech, Blockchain; Capital Markets and Derivatives; Business of Banking; and Taxation.
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