Young Insurance Professionals Program For Young African Graduates in 2022. Are you a young African who is looking for an opportunity to grow your knowledge of insurance?
If you are interested in enrolling in this program, you need some valuable information to guide you to success in your application. You will get this information right here on this page.
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Young Insurance Professionals Program for Young Africa Graduates
Insurance is a very important part of every society. The protection of lives, businesses, society, and properties is one aspect that cannot be over-emphasized.
Developing communities with economies in transition have an efficient and competitive insurance market as they integrate into the economy of the world.
All the applicants for this program are invited by the African Reinsurance Corporation (African Re) for the young insurance professionals Program 2022. Let’s take a deeper look into the details of this scholarship.
About Young Insurance Professionals Program
The African Reinsurance corporation has its headquarters in Lagos Nigeria. It is an international financial Institution having full diplomatic status. This corporation was established in the year 1976by the members of states of the new African Union (AU), which was formerly known as the Organisation of African Unity, (OAU).
The African Reinsurance Corporation is one of the biggest and leading insurance companies in Africa.
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Benefits of the Young Insurance Professional Program
At the end of this program, the top ten professionals who are successful will receive a sponsorship from the organization. This sponsorship will cover their fees for one of the major insurance/reinsurance events in Africa (AIO FANAF). They will get a certificate of completion issued by Africa Reinsurance corporation and the London School of Insurance and accelerated career development in the industry.
Eligibility Requirements of the Young Insurance Professionals Program
To be eligible for this program, all the applicants must be citizens of member states of the African Reinsurance Corporation. The maximum age required for this application is 32 years.
Continuously, if you have a Bachelor’s degree or its equivalent and relevant work experience in an insurance or reinsurance company, insurance broking firm, or any related field.
Furthermore, you must have good access to the internet and excellent writing and oral communication skills in English or French.
Young Insurance Professionals Program – How to Apply
The application procedure is very easy and it is done online. All you have to do Is to follow these steps below;
- First of all, go to the home page of the website, worldbank.org/en/about/careers/programs-and-internships/young-professionals-program#3
- When you get to the home page of the website, click on the three horizontal lines at the top right part of the page.
- Scroll down to the part of the page labeled “Overview”
- From the list of options given, click on the link that is labeled “apply”
- On the next page, click on the blue link labeled “Apply”
- This will lead you to a signup page. You will be required to create a new account or sign into your account if you already have one.
- If you clicked on “create a new account”, you will be led to a registration page. Enter your email address, new password, display name, your name, and your surname.
- After doing all that, click on “create”
With all these steps, you will be able to create a new account. When you have done all these, follow all the remaining steps to complete your registration process. Keep reading to get more information about applying for the young insurance professionals’ program.
Application Deadlines
The online Applications are open from June 15th to July 15th for all profiles and from August 15th to September 15th for IFC and MIGA profiles only.
Application Requirements
Before applying for this program, make sure you meet all the eligibility requirements and make sure all the application materials are complete. All applications must be done on or before 11:59 on the date of the application deadline. Candidates must select the institution that they think best aligns with their skill set. All duplicate applications will not be accepted and will not increase the chances of getting selected.
Application Materials
These are the materials that must be present with your application during submission.
- Resume/CV
- Academic Credentials*
- 1 Short Essay
- A summary of your Thesis or Dissertation
- 3 professional or academic recommendations.
- Diploma, Degree completion letter, and proof of enrollment with an expected graduation date on the transcript.
You will be required to submit an essay with the following details.
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Short Essay Question for the Young Insurance Professional Program
The details of this essay are given below; you will have To answer the following questions in 750 words or 4500 characters or less
- Why you are interested in the program in your preferred institution
- Why you are the right person for the role
- With the current global content, how the world bank group can help the client support our country reach green and resilient development? Include the rebuilding of the progress lost on the WGB’s goals over the past few years as it relates to your area of work.
After the application process, successful candidates will be contacted by email and there will be an interview process.
The Interview Process of The Young Africa Insurance Professionals Program
The interviews will be conducted virtually and may include;
- Pre-recorded interviews
- Live panel interviews
- Assessment center interview, where you will be asked to participate in individual and group exercises.
- Times computer-based financial tests
Candidates who were invited to the interview will be given more details as the process moves along. All the candidates will be assessed based on experience, technical expertise, and competencies like client orientation, leadership, and communication.
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The Breakdown of the Young Africa Insurance Professionals Program
This program has four major modules which include;
- Basic foundations in Reinsurance
- Technical Accounting
- Claims & Liability in Insurance & Reinsurance
- Fire & Marine
Here is a breakdown of the individual modules.
Module 1
The first module focuses on the following;
- Introduction to reinsurance
- Intermediate reinsurance and
- Designing a reinsurance program.
Module 2
The second module of the program focuses on the following;
- The basic reinsurance Technical Accounting
- Advanced Reinsurance Technical accounting
Module 3
The third module focuses on the following areas;
- Introduction to insurance and reinsurance claims and management
- Advance insurance and reinsurance claims management
- Basic liability insurance and reinsurance
- Advanced liability insurance and reinsurance.
Module 4
The fourth module focuses on;
- Introduction to fire insurance and reinsurance
- Advanced fire insurance and reinsurance
- Marine Cargo insurance and reinsurance
- Marine Hull insurance and reinsurance.
To get updates about this program, candidates can visit the website of this program; www.worldbank.org/en/about/careers/programs-and-internships/young-professionals-program#3. They can also follow the Young Insurance Professional Program on Linkedin, Twitter, etc.
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