AYIM 3rd Intake to be held in Manila

Preparations are in high gear for the third intake of the ASEAN School for Young Insurance Managers (AYIM) at the Asian Institute of Management Conference Center in Manila from Nov. 20 to 26, 2010.

Former Finance Secretary Dr. Jesus Estanislao will be the event’s keynote speaker. He will be discussing the importance of good corporate governance among insurance companies.

Dr. Estanislao is presently the chairman of the Institute of Corporate Directors and the Institute for Solidarity in Asia, two organizations that focus on corporate and public governance. A well respected public administrator, he has been bestowed numerous awards including the prestigious Management Man of the Year in 2009 which recognized his unquestioned distinction in the practice of management and for contributing to the country’s progress.

The AYIM was conceptualized in 2006 by the Singapore College of Insurance (SCI) at the behest of the Secretary General of the ASEAN Insurance Council (AIC) Teddy Hailamsah. Its primary objective is to nurture the next generation of ASEAN insurance industry leaders to enable them to meet the global management standards in more developed markets.

Rather than focus on technical insurance topics, which are already well served by existing insurance institutes in the ASEAN markets, the AYIM curriculum is specifically designed with a management focus, covering topics related to five universal themes, namely strategic management, corporate management, marketing management, people management, and financial management.

Practical case studies, assignments and exercises will be incorporated into the classroom lectures for each of the segments. AYIM participants will be assessed based on criteria designed by SCI and administered by AYIM assessors and faculty members.

At the end of the program, participants will be receiving grades based on their strengths and weaknesses, with certified copies sent to their CEOs for information. This assessment is to ensure CEOs of the sponsoring companies that real learning has taken place and that specific learning outcomes for each of the themes have been measured.

The vice chairman of the Philippine Insurers and Reinsurers Association (PIRA), Mr. Pedro Benedicto Jr., is part of the international line-up of faculty for the program. Mr. Benedicto is the president of Republic Surety and Insurance Company. An electrical engineer, he has been in the insurance industry for more than 25 years now. He is in the process of completing his doctoral degree.

As a project of the ASEAN Insurance Education Committee, the AYIM program is held every two years, typically in the same week as the annual ASEAN Insurance Council and ASEAN Insurance Regulators meetings.

Using these meetings as a backdrop, AYIM participants get the opportunity to interact with insurance regulators and industry leaders from ASEAN member countries. The interaction exposes young insurance managers to the difficult cultural and market backgrounds of ASEAN countries and gives them a better understanding of the workings and roles of various institutions.

One of the highlights of the program is a dialogue session with insurance regulators and senior industry leaders from 10 ASEAN countries during which participants from each of the ASEAN markets will be allowed to raise questions related to insurance issues in their markets.

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