The Dy­namism of an In­sur­ance Leader

Insurance - - FORSIDE -

Mr Pichet Jiara­ma­nee­taveesin, Head of Cor­po­rate Ac­tu­ar­ial of Amer­i­can In­ter­na­tional As­sur­ance Com­pany Limited Thai­land and also the win­ner of the Young ASEAN Man­agers Award (YAMA) 2012 shares his views of the ideal qual­i­ties of an in­sur­ance leader, his con­tri­bu­tion to the com­pany and the in­sur­ance in­dus­try. In­ci­den­tally, he will be the Chair­man of the Com­mit­tee for the 9th ASEAN In­sur­ance Congress which will be held in Da Nang, Viet­nam. This event is or­gan­ised by the ASEAN In­sur­ance Coun­cil and the ASEAN Train­ing and Re­search In­sur­ance In­sti­tute (AITRI).

Q In your opin­ion, what are the ideal qual­i­ties of an in­sur­ance leader? An in­sur­ance leader demon­strates out­stand­ing lead­er­ship qual­i­ties, vi­sion, in­dus­try knowl­edge, com­mu­ni­ca­tion skills, and mar­ket ad­vo­cacy and has in­flu­ence on the de­vel­op­ment of the in­sur­ance mar­ket as a whole. In to­day’s volatile eco­nomic en­vi­ron­ment, a global per­spec­tive, abil­ity to adapt to change and am­bi­tions to strengthen and ex­pand the in­sur­ance busi­ness are the keys to suc­cess. A lead­ing in­sur­ance leader should have thor­ough un­der­stand­ing of the reg­u­la­tions, eco­nomic con­di­tions and other fac­tors that could have an im­pact on the in­sur­ance in­dus­try. Ex­ten­sive knowl­edge, ex­pe­ri­ence and ex­per­tise in the in­dus­try are es­sen­tial for a good in­sur­ance leader to con­trib­ute to sus­tain­able growth of the in­dus­try. A suc­cess­ful leader also learns from his or her fail­ure. More­over, an ex­cel­lent in­sur­ance leader should be a good rep­re­sen­ta­tive for the in­dus­try, show­ing his or her will­ing­ness to speak hon­estly to the pub­lic about the chal­lenges fac­ing the in­dus­try to en­cour­age col­lab­o­ra­tion among stake­hold­ers. A leader should also have a good vi­sion for shap­ing the in­sur­ance in­dus­try and im­prov­ing it, as a vi­sion for the fu­ture is very im­por­tant for an in­sur­ance leader. Q What have you con­trib­uted to­wards your com­pany’s suc­cess? As a key tal­ent of AIA Thai­land, I have de­vel­oped sev­eral ini­tia­tives to gen­er­ate sus­tain­able top-line growth and im­prove the bot­tom line of the com­pany. My value-added con­tri­bu­tions in­clude en­hanc­ing the com­pany profit mar­gin, im­prov­ing loss ra­tio man­age­ment, pro­mot­ing sus­tain­abil­ity of the in­sur­ance busi­ness, giv­ing feed­back for prod­uct in­no­va­tion, man­ag­ing the tax re­serve to op­ti­mise tax, im­ple­ment­ing the risk-based cap­i­tal man­age­ment frame­work, and align­ing the com­pany’s busi­ness di­rec­tion with the chal­leng­ing reg­u­la­tory and com­pet­i­tive en­vi­ron­ment. The above con­tri­bu­tions are my crit­i­cal value- added achieve­ments to the com­pany’s suc­cess as they will di­rectly lead to sus­tain­able prof­itabil­ity and growth. I be­lieve that my abil­ity to es­tab­lish strong and sus­tain­able hu­man cap­i­tal is very im­por­tant for the com­pany’s suc­cess. As the ac­tu­ar­ial team is one of the crit­i­cal func­tions in the in­sur­ance busi­ness, I took great ef­forts to metic­u­lously de­velop my ac­tu­ar­ial team and grew from five mem­bers to thirty mem­bers in the past three years with high in­ter­na­tional stan­dards. I am also ded­i­cated to build­ing a cul­ture of en­thu­si­asm for learn­ing new things, proac­tive think­ing, busi­ness own­er­ship, be­ing a learn­ing or­gan­i­sa­tion and knowl­edge shar­ing among staff mem­bers un­der my man-

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