Transcript National University of Science and Technology

Public Lecture Presented By
Murairo Mukuvuri ;
B Comm Risk Mgt &Insurance (NUST),
Insurance Institute of Harare

Objectives of Insurance Institute of Harare (IIH)

 To promote good feeling and friendly relations amongst members
of the Insurance Industry.
 To encourage the dissemination of business knowledge and the
inculcation of sound Insurance practice by the reading and
discussion of papers.
 To promote and organize meetings, discussions and social
activities for the benefit and interest of members.
Sister Bodies

 Insurance Institute of Zimbabwe (IIZ)
 Insurance Institute of Bulawayo (IIB)
 Zimbabwe Association of Reinsurance Organisations
(ZARO)
 Insurance Council of Zimbabwe (ICZ)
 Life Offices Association Of Zimbabwe (LOA)
 Zimbabwe Insurance Brokers Association(ZIBA)
Facilitators

Topics

 Job opportunities in the insurance Industry
 Description of broker’s role particularly in
Zimbabwe market
 Impact of indigenisation on insurance operations
 Outlook of insurance industry given the current
economic conditions, any hope for insurance
industry
 Ethics on claim processing in industry especially for
brokers
 Expectation of industry on attachment students
Description of Broker’s role

 Is a professional who works in the insurance
industry, who is the agent of the buyer rather
than the seller of insurance
 an independent insurance agent who works with
many insurance companies to find the best
available policy(ies) for his client
 Broker is paid on commission
Duties in the Zimbabwean Market

 Bargaining on behalf of the insured Technical interpretation
 Claims management and advocacy
 Risk management advice
 Client education
Registered Brokers in Zimbabwe

There are 31 registered retail insurance
brokers in Zimbabwe and 3 registered
reinsurance brokers
Largest Broking Houses in Zimbabwe

Minerva (AON)
Marsh
Alexander Forbes
Largest In International Market
Marsh
Aon
Willis Group
Questions
