More than 700 insurance operators from Africa will be converging on Kigali, Rwanda from today June 1 to 4, 2014 for the 41st Conference and General Assembly of the African Insurance Organisation (AIO) to deliberate on the impacts of technology and research on the insurance industry in the continent.
The conference will hold under the theme "Insurance in Africa: The Importance of Technology, Research and Development," says AIO Secretary General, Ms. Prisca Soares.
The AIO annual conference brings together hundreds of top insurance executives from all over Africa and also from Europe, the Middle East, Asia and Australia.
Daily Independent gathered that more than 700 insurance practitioners and observers across 54 countries around the world are expected to participate at the conference.
Organised by the AIO, this year’s conference, just like previous ones, will be a very determinant moment for the African insurance industry given the issues to be handled.
The event will also feature series of meetings such as Association of African Insurance Supervisory Authorities (AAISA), African Insurance Brokers Association (AIBA), African Life Insurers Meeting and networking on business ideas.
Established in 1972, AIO is a non-governmental organisation recognised by many African governments.
The organisation is the umbrella under which all the insurance operators in the continent fall. Its membership is made up of insurers and reinsurers, brokers and all intermediaries, insurance institutions and trade associations, as well as supervisory authorities.
The primary objective of the association was to promote inter-African cooperation and to develop a healthy insurance and reinsurance industry in Africa. To a great extent, the organisation has achieved this through the establishment of specialised association and the setting up of some technical pools and committees.
The AIO was formed on the same basis as that of OAU (Organisation of African Unity now African Union). It was formed by insurance operators in the continent at a time many independent African countries were leaning towards socialism.
AIO has 287 members from 50 countries in Africa and associate international members from five countries.
Apart from the annual insurance conference, the body organises the annual African Reinsurance Forum, the annual life seminar, as well as various workshops and seminars on a yearly basis.
It is also engaged in rating, software development, development of supervisory/regulatory capacity and promotion of special work programmes. AIO established African Center for Catastrophe Risks.
It has also established the African Aviation and Oil Pools, and various specialised associations under its umbrella for supervisory authorities, brokers and training centres.
Source Daily Independent
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