AON Botswana says it continues to prioritise providing solutions to the risks associated with its clients and that its clients remain the most important asset besides the employees.
In an interview with AON Managing Director Dr Thapelo Matsheka, he highlighted that that another priority is the conscious decision to recognise and appreciate the communities in which AON’s clients exist and live in.
Matsheka is of the view that they strive to provide a positive influence on the local market as it continues to evolve in line with global market trends and challenges. He said to this end, innovative ideas and solutions that suit the market needs are constantly analysed with stakeholder discussions and engagements to provide the results needed for the market to achieve its annual objectives.
“We also constantly provide thought leadership to the industry for continuous improvement of the insurance industry value proposition,” he stated.
Matsheka further said that there is more client awareness on the concept of risk management, and the availability of the local risk management personnel that can add value and provide the necessary solutions with proactive surveys and advice to avoid catastrophe or potential business failure events, ensuring continuity in business development and growth.
“AON ensures that whatever insurance needs that may arise in any sector are well and truly met by our team of experts. We are placing the Aon Risk Management wing of the organisation as the focal point of our operations,” said Matsheka.
He said that before any risk can be identified and quantified; there is need for a comprehensive risk assessment or risk survey. He added that this is the report that informs the risk types, the number of risks and primarily their impact. “We have built a solid team of highly skilled individuals to provide expert advice in this area”.
Asked on the company’s challenges, Matsheka said that one of the main challenges is the lack of financial literacy to the wider public to understand the absolute need for insurance and risk management as tools to protect and mitigate their risks. He said they are countering that by engaging in general informational campaigns on the need for insurance and risk management.
“We have also engaging more intimately with our clients and their businesses as they grow and transform, where new developing exposure areas have been identified and our clients have been more than happy to purchase the necessary additional covers to close these gaps,” said Matsheka.
He is of the view that the industry has relatively severe skills shortages and Aon continues to progress on the training of its staff and accessing Aon Global resources to assist develop up and coming talent to be able to meet the evolving needs of the clientele.
Matsheka emphasised that the proliferation of many insurance practitioners and lack of adherence to strict ethical and integrity norms is another challenge adding that this has the potential to taint the goodwill of the industry. He said it is therefore important for the industry to develop protocols on corporate behaviour. “This cannot be left to anti-corruption laws but need to be self-regulated by the industry”.
“Aon supports the Presidential Directive CAB 25 (B)/2004 on the use of locally manufactured goods and services monitored by the Ministry of Trade and Industry to buy from Botswana based companies,” said Matsheka.