Training is an investment for the future and an essential tool for success. It not only increases productivity but also motivates and inspires people. Training programmes, seminars and workshops are an opportunity to achieve all that and much more. GIC Re, the Indian reinsurer, now wishes to share its knowledge and experience of four decades with its international customers to provide them a firm foundation of reinsurance.
GIC Re has been organizing training programmes as a value addition for its customers. These are part of the CRM initiatives by GIC Re to strengthen relationships and understand the customers’ requirements and provide solutions. In case of direct underwriters it is not very often that the executives get exposure to the nuances of reinsurance. In addition, the global reinsurance markets are changing rapidly and only continuing professional development can help individuals and organizations remain in the forefront.
Junior & Middle Level Executives from Direct Insurance & reinsurance companies looking after:
This programme is a ‘week long’ residential programme. A typical day’s schedule consists of two learning sessions both in the pre and post lunch hours. Each participant is awarded a Certificate of Participation at the conclusion of the programme.
The diverse faculty includes Senior Executives from GIC Re, Direct Insurers, and experts from Reinsurance Brokers and Eminent Consultants.
The reinsurance programme primarily focuses on the principles and practices of reinsurance and inter-alia covers the following:
A tool for grading the Commercial and Industrial risks on an international scale based on good engineering practices, risk management, safety procedures and various other parameters...
The ongoing process of globalization of market coupled with the advancements in Information Technology is transforming the world into one small global village. This current change has brought in the need for large commercial and industrial enterprises to re-look at the various risks to which they are exposed to and evaluate the effectiveness of their current risk management practices to match the best national and international practices.
To meet this growing demand, GIC Re has introduced the Risk Rating System including PML assessment, which is designed to answer this need of the corporate entities. This system is tuned to be effectively used as a tool for getting better favourable treatment while arranging for insurance/reinsurance protections.
The Benefits that could flow are:
Essentially the rating would be based on an in-depth study and physical inspection of the risk. Rating System would incorporate Risk Index Factors for various elements of risk management practices such as Management Policies & Practices, Hazard Identification & Control, Disaster Management & Business Continuity, Risk Financing etc. This concept is applicable to all types of industries and will base on good engineering practices and international norms. The GIC Risk Management team would issue a certificate grading the risk on a predefined scale. GIC Re would then give a priority cognizance to the certificate while quoting for Reinsurance terms.