Atlas Magazine May 2007

Knowledge and Know-how

At this particular stage of market restructuring and liberalisation, many insurers in emerging countries are seeking technical competencies that are essential to their development.

Paradoxically, and despite the high number of new graduates hired by companies, the technical level has remained unchanged as universities are training generalists rather than specialists, theoreticians rather than practitioners.

Insurance is taught in professional schools and inside companies. With the exception of some institutes, in notably insufficient numbers, there exists few establishments specialized in the education of insurance.

Neither IFID in Tunis, nor the Yaoundé Institute, nor the Bahrain Institute of Banking (BIBF), nor the South African training centres can meet the market's growing needs.

At the level of companies, the various restructuring policies have created a rift, a vacuum that hampers the flow of a genuine know-how among the different generations.

Executive staff is no longer assuming the role of tutors they used to have. Sustainable trade guild ties are no longer there to perpetuate corporate culture and create technical added value.

Technical training is the key to the future.

For companies' leaders, the equation is simple: no know-how, no insurance.

Know-how rebuilding requires a strategy, coherent training policies and most importantly the capacity to innovate and create.

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