IN alliance with the Association of Ethiopian Insurers (AEI), Ethio-Re conducted a four full days Insurance Product Development Master Class Training at Best Western Plus Hotel, Addis Ababa between 29 July, 2019 and 1 August ,2019.
The training was given by the renowned facilitators from Red Pear Communications Company LTD.
During the training it was expressed that in general, the state of development of insurance business in Ethiopia is very low. This is further exemplified by the insignificant contribution of the sector to the GDP, low level of penetration and density. In this regard, Ethio-Re believes there is untapped potential and plans to support the primary insurance market on the development of suitable products as per the needs and wants of insured customers in Ethiopia.
Ethio-Re’s as a close partner of the Ethiopian Insurance Industry has identified this critical gap and organized this master class workshop to help companies become self-equipped in developing insurance products suitable for the needs and wants of the society, understand the factors influencing product development and how product development should be approached, as a concept, in the insurance context.
The Four Days Master class has been designed to provide participants with a complete guide to innovating, developing, managing, and executing products in the sector. The comprehensive agenda has covered all the necessary knowledge, principles and lessons learned on how to develop effective insurance products that provide insurance organizations with a competitive advantage with customers in today’s very competitive market landscape.
The training was attended by Senior Executives, Marketing and Business Development Managers as well as Product Development Managers from all insurance companies.