Risk Management Association

Risk Management Association To link the insurance and risk management student and graduates to the industry and commerce
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26/02/2023

Registration is now open for the Life Assurance Underwriting and Portfolio Management Workshop to be held on Friday the 3rd of March 2023 at the Holiday Inn Hotel Harare.

This course is developed for underwriting job roles. It includes introduction to legislation, life insurance products and services, risk, claims and the skills to work well with clients. It focuses upon risk, underwriting complex medical risk, underwriting complex non-medical risks and the use of specialist terminology.

02/01/2023

9 PRACTICAL LIFE LESSONS FROM SUN TZU'S ART OF WAR

Risk Managers ought to be good strategists, here is a practical book that had been in use for more than 2.5k years. Enjoy the 9 practical lessons drawn from this great book.

"The Art of War" remains on of the world's most famous military texts, 2,500 years after it was published by Sun Tze (孙子 Sūnzi) an adviser who probably lived during the Spring and Autumn Period (776-471 BCE). However, it is now celebrated by today's business gurus and even sports coaches as guidance for dealing with conflict of all sorts. When Snapchat CEO Evan Spiegel felt threatened by the encroachment of Facebook into Snapchat's market, he gave each of his team members a copy of "The Art of War" in order to have them think in terms of ruthlessness competition. Whether it is internal or external to an organization or an individual's battles with themselves, competitors, or nature, "The Art of War" gives comprehensive advice on how to approach conflict. Let's take a look at 10 life lessons that can be taken from this broadly universal work.

LESSON 1: CHOOSE YOUR BATTLES
"He will win who knows when to fight and when not to fight."

In the same way that Sun Tzu argues armies should only engage when they have a clear advantage, we have to pick our battles in real life. A child may fantasize about becoming a professional sports player, firefighter, a CEO, and the president all at the same time, but as we get older, we realize there are time and resource constraints to what you can achieve. As such, we should know what we can achieve and in which areas we will be most successful to take full advantage of the time and resources that are available. Sun Tzu recommends that military commanders avoid spreading their forces too thin, as that would make an army weaker throughout. Similarly, in your career, if you spread your skills over too many diverse areas, you won't be able to specialize in anything. That is not to saying having diverse skills won't help you get a job, but you have to diversify your skills in a smart way. In business, you have to choose battles all the time, whether it be choosing between project proposals, prioritizing requests for renegotiations, or choosing when to challenge a counterpart. Much of content in "The Art of War" is dedicating to advising how to pick the right time and place for your conflict to occur (it if really needs to occur at all).

Sun Tzu's teachings can be applied to one's personal battles by helping us appreciate that self-improvement isn't just a matter of sheer willpower. When we have good habits we want to develop or bad habits we want to kick, it is helpful if we put ourselves in favorable conditions that will encourage success rather than make our challenges more difficult. For example, if you are trying to lose weight, eating out with friends while starting a diet will not help your case. Similarly, if you are trying to get a lot of reading done, loud and distracting housemates won't make that easy. Sun Tzu recommends following the path of least resistance. If you have multiple habits you want to build, you should start with the habits that are easiest to start, rather than completely trying to change your life all at once. Much like the feng shui tradition, Sun Tzu uses the metaphor of water flowing through the path of least resistance to describe the optimal course of action.

Martial arts fighter over wooden boards leading out to the horizon

LESSON 2: TIMING IS ESSENTIAL
"The quality of decision is like the well-timed swoop of a falcon which enables it to strike and destroy its victim."

Sun Tzu argues it is important to be extremely prudent in choosing the timing of when to engage the enemy. While having a good strategy in mind is essential, a plan is only as good as it is appropriate for the situation. Having good timing means that while you do not hesitate to execute when the time is right, you don't rush in either unless the conditions favor it. In marketing, for example, it is important to pay attention to what is happening in a market before entering it, and to stay on top of trends, responding to them in real-time via social media like Twitter.

Sun Tzu knew that time was of the essence in warfare. In real life too, it is important that once a decision is made, it should be executed immediately. In Chinese tech industry, for example, startups tend to emphasize speed of ex*****on and organizational flexibility in order to stay afloat. While China is a large market big enough to support many startups, it is generally considered a "winner take all" market, meaning that the first startups who succeed are likely to be the only ones that dominate.

LESSON 3: KNOW YOURSELF, KNOW THE ENEMY
"It is said that if you know your enemies and know yourself, you will not be imperiled in a hundred battles; if you do not know your enemies abut do know yourself, you will win one and lose one; if you do not know your enemies nor yourself, you will be imperiled in every single battle."

Probably the most important point of "The Art of War" tries to make is that information does matter, and an educated guess is better than a gut decision. Sun Tzu thought that generals should be adept at the "military calculus" of taking into account anything and everything that could affect the outcome of a battle. Not only is it vitally important to have insight into what the enemy might be attempting to do in order to take advantage of their weaknesses and know one's own corresponding strengths and weakness, but it is also important to take into account factors such as the environment, weather, and troop morale. Recent trends in the use of big data demonstrate just how important in-depth research is to the survival and success of businesses. In business negotiations, knowing something about your counterpart can be vital to improving communication with them.

LESSON 4: HAVE A UNIQUE PLAN
"All warfare is based on deception. "

While this well-known quote from Sun Tzu's text sounds sinister, but it has profound meaning in the business world. It is well-known that it is essential to differentiate your business strategy in order to come out on top. The "military calculus" Sun wanted generals to be adept in was meant to incorporate one's own unique perspective so that it would not be possible for the enemy to anticipate it. Similarly, if businesses do the same research as their rivals, the lack of differentiation would likely result in a loss of profits for both companies, as they would both be focusing on the same market areas. It is important in life's struggles to do the preparation work, but if you really want to win, you should prepare in a way that is either more extensive or more innovative than anyone else.

LESSON 5: DISGUISE YOUR PLANS
"When able to attack, we must seem unable; when using our forces, we must seem inactive; when we are near, we must make the enemy believe we are far away; when far away, we must make him believe we are near.

Sun Tzu believes it is not enough to have a unique plan, and that a plan must also be disguised by means of deception. For example, if a general was planning an attack from his left flank, he should confuse the enemy by using decoys on his right, which would make it appear as if the attack was coming from the right. Ideally, an army should also be in constant motion so as to appear formless. Deception is also common in the business world. Large corporate monopolies will often take measures to appear smaller, while small startups will claim they are changing the world through the uniqueness of their innovation, even though they might not be at that stage yet. Similarly, if your ambition is to leave your current company to start your own business in the same industry, you would do well to have your colleagues believe you are dependent on your job. Sun Tzu also recommends that you make your former colleagues think your business is struggling until you eventually reach the point where you are outperforming them.

Two businessmen with chess in office

LESSON 6: THE BEST WAY TO WIN IS NOT TO FIGHT AT ALL
"To win 100 battles is not the height of skill, to subdue the enemy without fighting is."

In observation of the fact that warfare is extremely risky, Sun Tzu proposes that the best tacticians are those who are able to defeat the enemy by diplomacy or other means. He proposed generals should try to take cities without laying siege, possibly by forcing the inhabitants to surrender due to psychological warfare. Sun Tzu argues that for any situation, man has more than one tool at his disposal, making it sometimes necessary to engage the enemy in a conventional manner. The concept of being resourceful applies to real life even more than it does to military conflict, as not a zero-sum game, and there can, in fact, be multiple winners. The example of Apple's "Think Different" campaign illustrates how companies can become successful not by direct competition, but by differentiation. Similarly, in personal life, you are much more likely to succeed if you create your own job opportunities than if you follow normal, more established career paths. Develop a skill (or combination of skills) that nobody else has, and you won't have to compete with anyone. Want to get hired? Figuring out how to get companies to seek you out rather than you having to seek them out will save you a lot of time and effort.

LESSON 7: CHANGE REPRESENTS OPPORTUNITY
"In the midst of chaos, there is opportunity."

According to Sun Tzu, change is one of the most important factors in deciding the outcome of a battle. As a realist, Sun Tzu emphasizes that anything can happen in warfare, and proposing that generals always prepare for the worst. However, he also points out that the only way to get ahead is to take the right risks. Therefore, those who remain calm and keep an open mind during a time of uncertainty are best-positioned to take advantage of opportunities when they arise. In real life and in business, it is often the case that one is unaware of the opportunities one has missed because people are so often fixated on protecting themselves from change. Change is inevitable in any industry, and the best way to prepare for change is to be the driving force behind that change. Being aware of new laws or regulations, disruptive technologies, social phenomena, and changes in the budget of your customers will uncover opportunities, which must be seized if businesses are to progress.

LESSON 8: SUCCESS BREEDS SUCCESS
"Opportunities multiply as they are seized."

Sun Tzu noticed that momentum was very important to warfare. The same is true in business. When Uber was vying for market dominance with local ride-hailing app Didi Dache (滴滴打车 Dīdī Dǎchē), Uber was the clear favorite as a more technologically advanced and better-funded startup. CEO of Didi, Cheng Wei, reportedly a military history buff, told Uber CEO Travis Kalanick that he would someday overtake Uber when the two met in 2013. Although he was at the time much smaller than Uber, Cheng knew that he would someday win because he was going have to fight other local ride-hailing apps before he challenged Uber anyways. Indeed, after defeating or acquiring all the local rivals, Didi had become a seasoned veteran in the Chinese market and knew how to fight much better than Uber, a U.S.-based company. Cheng's string of victories against local rivals eventually helped him outmaneuver Uber despite Uber's ability to match his moves financially.Companies like Didi are able to scale quickly once they have a few successes, and the momentum starts shifting their way. Similarly, in a career, sometimes it is the small actions that snowball into something bigger. For example, if you volunteer to represent your company at a conference, it could lead to networking great contacts who give you clients, or a future job. Sometimes, it just takes one opportunity for the floodgates to open.

LESSON 9: NO ONE PROFITS FROM PROLONGED WARFARE
"There is no instance of a nation benefiting from prolonged warfare."

Uber and Didi can attest to the draining effects of a protracted conflict, as both companies burned through billions of dollars while competing with one another. Sun Tzu advises it is best to strike effectively and quickly, making conflict decisive. In the business world, you don't want to drain your resources attacking a rival when you could invest them in your future development. In personal life too, you do not want to wait forever to tackle your problems, and should make progress toward your goals as soon as possible. Do you have an idea to start an innovative company? Don't wait until next year to get things rolling, as someone else with the same idea might act on it sooner than you.

An estmeed global reinsurance Company has vacancies for two attachment students who are studying  Risk Management and In...
08/12/2022

An estmeed global reinsurance Company has vacancies for two attachment students who are studying Risk Management and Insurance to start on the 1st of January 2023.
To apply, please send your CVS and University letter to [email protected] by 14 December 2022

Stretching exercises to do when sitting in front of the computer all dayTanaka Machani Spending a lot of time studying o...
08/12/2022

Stretching exercises to do when sitting in front of the computer all day

Tanaka Machani

Spending a lot of time studying or working in front of the computer will leave your body posture out of alignment. It has also been proven that sitting for long hours at our desks can also increase various other kinds of health concerns.

At a time where remote work and study has become the norm, long periods of time seated in front of a computer has become a common problem for many students and employees. To counter this, experts suggest doing minimal stretching exercises to help with your blood flow, and improve your posture at the same time.

Here are some full body stretches that you can do while working at your desk.

1. Neck Stretch
Stretching your neck can reduce upper body strains. Most people tend to lean towards their computer screens, straining and stretching the neck muscles. A neck stretch will help relax strained neck muscles and prevent frequent headaches.

To do this simple yoga stretch, bring down your right arm and hold the side of the chair. Tilt your head towards the left till you feel a stretch down the side of the neck. Retain this position for 15 to 30 seconds. Release and repeat on the opposite side.

2. Shoulder and Chest Stretch
Stand up straight and bring your arms behind you and interlock your fingers. Start lifting your arms until you feel an extension across the chest. When you feel your body stretching, hold your position for 15 to 30 seconds. Release and return to your sitting posture.

3. Spinal Stretch
Bad posture can cause tremendous strain on our neck and upper body. A spinal stretch can help relieve those tensions across your back and improve your posture.

Put your feet down to touch the floor and contract your abs. Begin carrying your upper body by turning or twisting towards the right. Then, bring your left hand and touch your right knee. Twist as far as it feels comfortable for you and hold the position for 15 to 20 seconds. Repeat on the other side.

4. Back Stretch
Our back suffers every time we bend towards the screen, when slumping down or reclining back. To help counter tension build ups on this area, sit upright on your chair and rest your back against the backrest. Be comfortable and keep the palm of your hands at the back of the neck.

Bend your neck backwards toward the backrest and maintain your elbows wide till you feel a stretch across your chest and back. Hold this gentle stretch for ten seconds.

5. Hip Stretch
The lower part of our body gets tight when we keep sitting for long hours; our hip flexors get shorter and tighter. With a hip stretch, you will be able to stretch the glutes as well as all the areas of the hips. To do this, sit upright and rest your right ankle on your left knee.

Start bending forwards at the hips till you feel a stretch across the right glute. Press down your right knee and increase that stretch. Hold the posture for 15 to 20 seconds. Repeat on the other side.

6. The Wrist Stretch
Typing on the keyboard for hours or resting the wrists all day can make them tight. With a few simple stretches, you can now exercise your wrist flexors. Bring your right arm straight out in front of you with the palm of your hand facing up.

Flex your wrist with the fingertips pointing towards the floor. Bring your left hand forward and pull back on your fingers to strengthen the stretch. Do it until you feel the stretch up your arm. Retain the posture for 10 to 15 seconds. Repeat on the other hand with the palm facing downwards.

7. A Half-kneel Stretch
Kneel on the floor and place your hands on the floor in front of you. Flatten your lower back muscles and inhale. Exhale as you start shifting your body weight forwards. Keep alert and do not let the back arch.

Follow a full body stretch routine if you are working at the computer for most of the day. They are easy and can be tried at any hour.

29/11/2022

3 reasons why you should invest in your education during economic depressions

The economic situation remains uncertain, and no clear picture of 2023 exists. In fact, it appears to be a year full of economic challenges, with the same trend of high inflation as in 2022.

This news can be disheartening at first because it implies that many of the goals that have already been planted will be impacted by the global economic situation.

Thinking about how to deal with these crisis situations, here are three reasons why you should invest in your education during a recession.

1.- Those who are preparing today will have the best opportunities

Apprenticeship and professional development programs were once considered a luxury, but thanks to modern technology, we can all learn new skills via the internet.

People nowadays expect their current employers to help them advance professionally. An overwhelming 94 percent of workers told LinkedIn that if a company invested in their careers, they would stay with it longer. It is true that today's opportunities favor those who are more qualified and who are constantly learning new things.

Companies that do not facilitate, accompany, and support their collaborators' learning processes are doomed to lose them.

2.- Profiles must increasingly gather greater skills to develop a role

From the previous point, a simple look at the labor market reveals that the positions that are sought today have greater responsibilities and activities in charge.

Companies that assist employees in acquiring such skills may have a higher win-win ratio. "It is estimated that an organization of 100 people with an average salary of $50,000 faces a turnover rate of 25% (the national average in 2021), the company would lose between $625,000 and $2.5 million per year." Given that the national turnover rate is expected to rise by 20% this year, that range is conservative," according to data from the website builtin.com.

People cannot expect companies to take charge of their education because it is their life, and there is only one, so always strive to achieve your goals.

3.- The economic slowdown will not last forever.

The processes, as they have always been in history, are cyclical, which is a very short-term vision not to develop for good times. In fact, taking advantage of economic downturns is a good way to reinvent yourself or invest in your education to gain higher credentials. So, if you've been thinking about getting a Ph.D. or doing a postdoc, the time has come.

Do not be afraid to invest in your future through education. Investing in education is a sound investment because it benefits not only the economy but also your health and well-being by providing you with a goal to strive for. So, if you're considering pursuing a Ph.D., look into online study options.

Built In is the online community for National startups and tech companies. Find startup jobs, tech news and events in the National tech scene.

What a Doctorate Degree Is and Why You may need OneNow that you’ve earned your Master’s degree, it’s time to put what yo...
29/11/2022

What a Doctorate Degree Is and Why You may need One

Now that you’ve earned your Master’s degree, it’s time to put what you’ve learned to the test. You have the power to conduct life changing experiments and research. Who knows - you could become the next Nikola Tesla or Isaac Newton, your name forever engraved in textbooks to come. Pursuing a doctorate degree is one of the most rewarding experiences one can have in life. It’s a testament to one’s commitment to lifelong learning and bettering the world by expanding the realms of academia and uncovering new points to be researched within a field. If you think you’re up to the task, we have hundreds of rigorous and respected Doctorate programs offered throughout the world.

Earn the Prestige and Glory of Being a Doctorate Graduate

If you’re thinking about getting a Doctorate degree, first of all: congratulations. Not many dare to think of committing so many years of their lives to their education and research. But you did. You are. You have the power to revolutionize the way we do things for the better. Not to mention, when you get a Doctorate degree, life becomes your oyster. Since Doctorates are paid more than their peers with lower levels of education on average, you’ll finally be able to afford the life of your dreams while pursuing something you’re passionate about. Here are some other reasons you should choose a Doctorate program:
● Put theories to the test and see if they hold up in the real world
● Obtain a higher salary once you finish your Doctorate program so you can live the life you deserve
● Earn the respect of your family, friends and strangers by earning the coveted title of having a Doctorate
● Stimulating educational experience that expands the way you think about a current subject
● Create a legacy in academia by furthering your educational pursuits and studying meaningful subjects

The importance of getting a Doctorate Degree:
1.- Access to positions with better wages: A PhD opens up your chances of accessing better paying jobs. When your resume is bulky, the options are broader, especially if the field of teaching is your vocation. Work experience combined with specialized knowledge are always the perfect team to continue climbing to a better position and, consequently, to a better salary.

2.- Performance as academic or research areas: With a doctorate, you will be able to teach university chairs or carry out research tasks as an expert in the subject. Are you interested in these branches of specialization? So, with a doctorate you will open doors in one direction or another. You can develop teaching skills or do thorough research, using specialized sources.

3.- Develop your personal skills: A PhD will allow you to enhance skills as important as perseverance, patience, the spirit of improvement, internal motivation. During a doctoral thesis, you will experience moments of doubt, difficulty or uncertainty. However, if you overlap with all that, you will discover a very valuable potential, which you can apply to any scenario in your life.

4.- Turn the doctorate into a job: When you start your research thesis, you will be able to apply for scholarships for doctoral students, which finance interesting projects. It is important that you pay close attention to the different calls, in order to present the documents on time. In that case, find out about the amount of the scholarship, conditions to apply for it or duration.

5.- Work contacts in the university environment: The university will be part of your life if you do a doctorate. Your student period will offer you the opportunity to continue learning, but also to establish collaborative ties. Your thesis supervisor can be a great mentor to you; Someone to advise you based on their experience with their advice and ideas and that you can successfully apply to continue improving your work.

6.- Differentiation from other professionals in the sector: Many students complete a bachelor's degree, however, the group that continues with the doctoral thesis is less numerous. A doctoral thesis is a project that requires a lot of effort; However, obtaining a degree that opens so many doors will be the best reward.

7.- Presentations at conferences and publication of articles in specialized magazines: During the duration of your doctoral thesis you can take the opportunity to venture into something that perhaps you had not considered: the opportunity to make publications where you share the knowledge you have obtained through your work experience and the development of your research work.

8.- Be an authorized voice on the matter: You can study in depth a subject that you love, until you become an expert and an authoritative voice. It is very possible that as a specialist in the field you have the opportunity to: √ Give lectures on this topic. √ Write a column in a newspaper, if your subject of specialization is of current interest.

9.- Internships at foreign universities: You have the opportunity to make short stays at foreign universities if your research topic requires it. Traveling will allow you to enrich your knowledge in the subject you study while you get to know another culture.

10.- Reconciliation of studies and work: Studying and working at the same time is possible, although in that case you will have to develop your research at a slower pace. Are you evaluating the possibility of studying for a doctorate? Reflect on your own level of motivation to undertake a project so demanding that it can open many doors for you both personally and professionally. Do you dare to accept the challenge?

Push yourself to new heights. Discover the right Doctorate program for you now!

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