THE Insurance Institute of Zimbabwe (IIZ) has elected Clementine Chinyuku its new president, replacing Tatenda Katoma and will be at the helm of the institute next year.
Chinyuku is Waica Re Zimbabwe’s life manager and has over 20 years’ experience in life assurance and reassurance.
The firm is a wholly-owned subsidiary of Waica Reinsurance Corporation PLC, a pan African reinsurer headquartered in Sierra Leone.
Chinyuku was elected at IIZ’s annual conference in Victoria Falls on Tuesday.
In her acceptance speech, she said she would prioritise developing educational programmes that equipped members with the necessary skills to navigate industry changes.
“We live in a time of rapid change, driven by technological advancements and shifting consumer expectations. The insurance landscape is evolving and we must adapt to stay relevant. As your president, I am committed to fostering a culture of innovation within our institute,” she said.
“We will actively explore emerging technologies such as artificial intelligence, big data, and blockchain to enhance our offerings and improve customer experiences.
“To this end, I will prioritise developing educational programmes that equip our members with the necessary skills to navigate these changes confidently.”
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Chinyuku promised to cultivate an environment within the institute of creativity to embrace new ideas.
She said the role of insurance professionals extended beyond their offices as they had the responsibility to engage the public and advocate for the industry.
Thus, Chinyuku envisions an institute that focuses on professional development and actively participates in industry outreach programmes to address the low levels of financial literacy.
“We heard that the penetration rate currently stands at 1,6%, meaning there is not just a lot of work to be done to bring insurance to the people but also relevant and meaningful products,” she explained.
“Increasing insurance awareness can help demystify our industry and build stronger relationships with the industry we serve. This calls for the entire insurance industry and value chain to collaborate and deliver appropriate sustainable solutions to the insuring public.”
Chinyuku believes the institute should reflect the diversity of the society it serves.
This is because a diverse and inclusive environment, according to Chinyuku, fosters creativity, drives better decision-making and ultimately leads to better outcomes for clients.
“I am committed to promoting diversity within our leadership, membership and educational programmes,” she said.
“We will launch initiatives to recruit underrepresented groups into our field and provide mentorship opportunities to nurture future leaders.
“We can create an inclusive culture that values different perspectives and experiences.”
Chinyuku has previously worked as Emeritus Re head of reassurance, she also served as a Women Insurance in Zimbabwe executive member, a member of the Life Offices Association board and a Credsure Health non-executive member.
Chinyuku holds an LLB Laws Degree from the University of South Africa and a Masters’ Degree in Risk and Insurance from the National University of Science and Technology Zimbabwe.
The new IIZ boss is also a fellow of the Insurance Institute of South Africa and is an experienced trainer in technical insurance, having conducted training at various institutes locally, regionally and internationally.
