- The conference, themed 'Leaving No One Behind: Financial Inclusion through Innovation,' will mark the 50th Anniversary of the Organisation of Eastern and Southern Africa Insurers (OESAI).
- As a key partner in the region, OESAI provides Allianz with valuable networking opportunities, business prospects, and events.
- Over 500 delegates from Africa and abroad are set to attend the conference, which Allianz Commercial co-sponsors with Jubilee Allianz Mauritius.
Allianz Commercial, a leading global corporate insurance carrier and a key business unit of Allianz Group, proudly sponsors the 45th Organisation of Eastern and Southern Africa Insurers (OESAI) Annual Conference and AGM to be held in Mauritius from August 27 – 31, 2023. The conference, themed 'Leaving No One Behind: Financial Inclusion through Innovation,' will mark the 50th Anniversary of the OESAI. As a key partner in the region, OESAI provides Allianz Commercial with valuable networking opportunities, business prospects, and events.
“We anticipate that this year’s conference will have participants coming from all over Africa and beyond who will join us physically to exchange ideas, experiences and work together to find solutions for current issues that are affecting the reinsurance and insurance industry on the continent and beyond,” says Jean Alain Francis, Chairman of the Local Organising Committee.
Over 500 delegates from Africa and abroad are expected to attend the conference, which Allianz Commercial co-sponsors with Jubilee Allianz Mauritius. The event provides a platform for industry leaders and professionals to connect and explore collaborations. Notable attendees from Allianz Commercial include Allianz Commercial South Africa CEO Thusang Mahlangu, Allianz Commercial Business Development Manager, Senzile Ndlozi, Allianz Commercial Head of Energy & Construction, Robert Ter Morshuizen, and Allianz Commercial Senior Financial Lines Underwriter, Amanda Banfield, who will be engaging with existing and potential business partners.
One of the conference highlights is a panel discussion on the future of Cyber Security/Cybercat, featuring industry experts. Josh Ramnarain, Consultant – Technology, Health Business, and Innovation at Jubilee Allianz Mauritius will share insights alongside Suresh Balakrishnan, CEO Transasiatec, Ruben Veerasamy, Senior Vice President, Equisoft, and Ryan Philips, Group CEO of Afro Asian Insurance. Sesilia Nkoshi, Senior Underwriter from NambiRe will moderate the session.
According to Allianz Risk Barometer, cyber incidents, such as IT outages, ransomware attacks or data breaches, ranked as the most important risk globally for the second year in succession – the first time this has occurred. It also ranked as the top peril in 19 different countries, among them Madagascar, Mauritius, Morocco, France, and the UK. It also ranked as a top three risk in Kenya, Nigeria, South Africa, and Tanzania. It is the risk that small companies (<$250mn annual revenue) are most worried about.
“For many companies, the threat in cyberspace is still higher than ever and cyber insurance claims remain at a high level. Large companies are now used to being targeted and able to repel most attacks. Increasingly, we see more small- and mid-size businesses impacted who often tend to underestimate their exposure. They all need to continuously invest in strengthening their cyber controls,” says Shanil Williams, Board Member at Allianz Commercial (Allianz Global Corporate & Specialty SE) and Chief Underwriting Officer.
According to the Allianz Cyber Center of Competence, the frequency of ransomware attacks remains elevated in 2023, while the average cost of a data breach is at an all-time high at $4.35mn and expected to surpass $5mn in 2023. The conflict in Ukraine and wider geopolitical tensions are heightening the risk of a large-scale cyber-attack by state-sponsored actors. In addition, there is also a growing shortage of cybersecurity professionals, which brings challenges when it comes to improving security.
Crisis communication checklist
To assist businesses in managing cyber incidents, Allianz has prepared a crisis communication checklist, which provides guidance on timely and transparent communication with stakeholders. The checklist, along with further information, can be accessed here.
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About Allianz Commercial
Allianz Commercial is the center of expertise and global line of Allianz Group for insuring mid-sized businesses, large enterprises and specialist risks. Among our customers are the world’s largest consumer brands, financial institutions and industry players, the global aviation and shipping industry as well as family-owned and medium enterprises which are the backbone of the economy. We also cover unique risks such as offshore wind parks, infrastructure projects or Hollywood film productions.
Powered by the employees, financial strength, and network of the world’s #1 insurance brand Allianz, we work together to help our customers prepare for what’s ahead: They trust on us for providing a wide range of traditional and alternative risk transfer solutions, outstanding risk consulting and multinational services as well as seamless claims handling.
Allianz Commercial brings together the large corporate insurance business of Allianz Global Corporate & Specialty (AGCS) and the commercial insurance business of national Allianz Property & Casualty entities serving mid-sized companies. We are present in over 200 countries and territories either though our own teams or the Allianz Group network and partners. In 2022, the integrated business of Allianz Commercial generated more than €19 billion gross premium globally.
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