Nico General Chief Executive Officer Donbell Mandala has been elected new president of Insurance Association of Malawi (IAM) replacing Grant Mwenechanya whose term has expired.
Mandala was elected at IAM Annual general meeting in Blantyre last week and the meeting also elected United General Insurance (UGI) youthful Chief Executive Officer Bywell Chiwoni as vice president of IAM.
At the AGM, there were various subcommittee Chairpersons who were also elected namely Bywell Chiwoni for Motor, Robert Murigih from CIC for Accidents, Prakash Patil from General Alliance for Fire, Engineering, Weather and Marine, Anti-Fraud, Dorothy Chapeyama form Reunion for Anti-Fraud, Abdul Mageed Dyton from Liberty General for Education, Research and Development, Christopher Mukwindidza from Emeritus Re for Secretarial Affairs, Finance and Investments, Dr Albert Mbawala from Prime for National Bureau and Mandala will chair Club and Ethics, Public Relations and External Liaison sub committees.
Speaking when he handed over the mantle to Mandala, Mwenechanya asked members to offer full support to his successor just like they did to him as there is still work to be done.
“I have served in this capacity as president for a good three years. I stepped into presidency in July of 2015 to complete late Mr. Ian Kumwenda’s term.I hope I have run my race and time has come for me to hand over the responsibility to one of you honorable gentlemen and a lady.”
“The journey has not always been rosy as life dictates but overall I have to thank you all for the support and encouragement that you provided to me. There is still a lot of work that needs to be done and it is my belief that my successor will also get all the support that you used to provide to me,” said Mwenechanya who is also Chief Executive Officer for Britam.
Mandala said in an interview that during his two year tenure, he would likeestablish IAM as key partner to government in financial services sector in driving the economic agenda of the government.
“I would also like to oversee and drive conclusion of the projects which are outstanding from my predecessor such as signed MOU with the Police, implementation and integration of the MALTIS system between Road Traffic Directorate and Insurance Companies and also push for adoption of the revised Road Traffic Act and growth of COMESA Yellow card sales,” said Mandala.
He also he will support the regulator of financial services, The Reserve Bank of Malawi (RBM) on the claims management directive to ensure its fully implemented in the market as this directive targets to benefit the customers.
“During my tenure I would like to develop a five year strategic plan for the association from 2018 to 2022 as the road map of its critical success factors , key priorities and activities to be carried on to deliver the strategy,” said Mandala.
Stating some of the notable achievements under his tenure, Mwenechanya said IAM has a new constitution as the previous one was outdated and the new one has gone through various stages of review.
Mwenechanya also said after six years, IAM had a club meeting with Insurance brokers in May 2017 which was a success.
“There were actions that were agreed during the meeting such as setting a joint technical committee and holding club meeting every quarter The issue of commissions is also still being pursued by the brokers. My successor will have to ensure that these agreements do not die a natural death pursue them for the betterment of our industry,” said Mwenechanya.Follow and Subscribe Nyasa TV :