Aon Benfield Scholarship 2018 - Championing outstanding practice and professional development in the insurance industry - ANZIIF
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Aon Benfield Scholarship 2018 Championing outstanding practice and professional development in the insurance industry
2
Aon Benfield Scholarship
Now in its fourteenth year, the Aon Benfield Scholarship was established by Aon Benfield and
the Australian and New Zealand Institute of Insurance and Finance (ANZIIF) to:
• Foster the strengthening of the Australian and New Zealand insurance industry through
ongoing educational opportunities.
• Recognise and educate outstanding insurance professionals who demonstrate the
potential to be industry leaders in the insurance market.
• Build and strengthen insurance industry links for Australian and New Zealand insurance
professionals internationally.
• Provide recipients with an opportunity to act as ambassadors for the company they
represent and their local insurance market, and
• Develop advanced skills and knowledge of the global and London reinsurance markets.
The winner of the scholarship will attend the 53rd Annual Aon Benfield Global Clients
Reinsurance Seminar in London from 10 September – 20 September 2018 and gain an
invaluable understanding of the principles and practice of arranging reinsurance on a global
scale.
The Global Clients Reinsurance Seminar is highly regarded around the world as an
outstanding educational opportunity for insurance and reinsurance professionals.
We strongly encourage insurance and reinsurance professionals to apply for the scholarship
to enhance their professional development. The winner will also be announced at the annual
Australian Insurance Industry Awards in Sydney on 30 August 2018.
Robert De Souza Prue Willsford
President APAC Chief Executive Officer,
CEO Australia and New Zealand Australian and New Zealand
Aon Benfield Institute of Insurance and Finance
3Information about the Aon Benfield
Global Clients Reinsurance
Seminar and scholarship
Aon Global Clients Reinsurance Seminar
The Aon Benfield Global Clients Reinsurance Seminar is held in London and provides an intensive
program of study for insurance professionals to gain knowledge of the global and London
reinsurance markets, further their career and develop important international business contacts.
Topics during the seminar include:
1. Role of the reinsurance broker
2. Integral parts of a reinsurance program
3. Reinsurance foundations
4. Property proportional treaty reinsurance
5. Reinsurance Markets and Reinsurer Counterparty Risk
6. Facultative reinsurance
7. Introduction to Aon Benfield Analytics
8. Introduction to catastrophe modelling
9. Introduction to Dynamic Financial Analysis
10. Essentials of Liability reinsurance
11. Solvency II and Rating Agency
12. Reinsurance claims
13. Inpoint
14. Essentials of property per risk excess of loss reinsurance
15. Catastrophe excess of loss
16. Visit to Lloyd’s of London (optional)
The scholarship will cover travel and accommodation, as well as living and seminar expenses
for the duration of the program.
4Aon Benfield Scholarship
The Aon Benfield Scholarship aims to:
• Recognise an outstanding insurance professional in the Australian and New Zealand
insurance markets.
• Strengthen industry links internationally, and
• Emphasise the importance of continuing professional development in all aspects of
insurance.
Eligibility
The scholarship is open to Australian, New Zealand and Papua New Guinea permanent
residents and citizens who are currently residing in Australia, New Zealand and
Papua New Guinea and have at least two years’ experience working in insurance
or reinsurance.
Application information and selection criteria
To apply for the scholarship, each applicant must write a 2,500 word essay on a topic
determined by Aon Benfield and ANZIIF.
5The 2018 Topic:
The Non-Insurance Gap –
A Growth Opportunity?
The significant natural catastrophe loss events of 2017 The insurance recovery ratio in the US is estimated at 47
continue to highlight the protection gap (defined as the percent. This is below the 17-year average of 54 percent, due
difference between economic and insured loss) existing even to the relatively high proportion of losses caused by flooding.
in developed markets. The proportion of total losses covered [See graphic]. Interestingly, this protection gap exists
by insurance is estimated at only 40 percent in 2017, despite even though the reinsurance industry is supposedly awash
the relatively high insurance penetration rate prevailing in the with excess capital and reinsurance supply is outstripping
US where the majority of the catastrophe losses were incurred reinsurance demand.
in 2017.
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Percentage of uninsured loss Percentage of insured loss
You are the future of reinsurance. With that in mind, what opportunity do you see for the extremely well capitalised
(re)insurance industry to close the protection gap by better utilising excess capital (from either traditional or third-
party providers)?
Who has the bigger role to play in closing the protection gap – Government, Insurers, Reinsurers?
6Further information &
application requirements
How is the essay marked by Judging panel
the judges? The recipient of the Aon Benfield
The essay will be marked on the Scholarship will be decided by a
applicant’s: panel of judges. The judging panel
will assess the applicant’s submission
• Ability to support the essay with
based on the given criteria and
evidence and examples, wherever
oversee the award process.
possible.
• Coherency and communication of Robert De Souza
ideas and information. President APAC/CEO
Australia & New Zealand
• The awarding of the scholarship will
Aon Benfield
also take into account:
–– Communication skills. Prue Willsford
CEO
–– Demonstrated performance in
ANZIIF
the insurance industry.
–– A commitment to the Peter Cheesman
achievement of qualifications Head of Aon Benfield Analytics
and/or study of the insurance Australia and New Zealand
industry. Aon Benfield
–– The ability to develop, maintain Darren Maher
and leverage relationships and Group Chief Underwriting Officer
build leadership skills in the IAG
industry.
Paul Smeaton
–– The ability to contribute skills Chief Executive
and knowledge gained through Vero Insurance New Zealand
the program for the benefit
of the insurance industry in
Australia and/or New Zealand.
7Formatting and Supporting documentation Application checklist
submission guidelines In addition to the essay, applicants Before emailing your application,
Please ensure you read through for the Aon Benfield Scholarship must please check the following documents
the following instructions when submit the following: are included:
submitting your essay for the Aon 1. A current curriculum vitae and • A completed application form and
Benfield Scholarship. where appropriate, supporting your signed acknowledgement that
Your submission will be rejected if the documentation, to include: you are able to travel to London for
following format is not followed: the specified dates of the seminar
a. Educational achievements
(10 – 20 September 2018). Your
1. Font/Font Size: b. Work and leadership employer should be fully aware
Heading: Arial Black; Size: 12pt achievements of these dates when you sign the
Body Text: Arial; Size 10pt application form.
c. Career goals
Paragraph: 1.5 line spacing
d. Anticipated personal, company • A 2,500 word essay addressing
2. Page Numbers: the selected topic (in the specified
and local industry gains
Arial; Size 10pt (bottom right hand format).
from attending the seminar
corner on each page)
(maximum 250 words) • A curriculum vitae addressing each
3. Submissions must be submitted via of the listed criteria (refer a - d in
2. A statement of recommendation
email to Marise Maechler: Supporting Documentation).
from a Senior Manager addressing
marise.maechler@aonbenfield.com
the applicant’s ability to make use • A statement of recommendation
4. No submissions will be accepted by of the learning and relationship from a Senior Manager.
fax or post. building opportunities provided by
Applications must be received no later
5. Essays must be submitted in MS attending the seminar.
than 5.00pm (AEST) on Thursday,
Word format only. The file must be Short listed candidates may also be 7 June 2018 and emailed to:
named as follows: required to undertake a face-to-face
first initial_ surname.doc marise.maechler@aonbenfield.com
or telephone interview with the
(e.g.: m_maechler.doc) judging panel to assist in confirming Late entries will not be accepted.
6. All essays must be emailed to: their decision.
marise.maechler@aonbenfield.com Post-events reporting
by 5:00pm AEST on Thursday, requirements
7 June 2018.
At the conclusion of the seminar, the
7. Before submitting your essay, recipient is required to submit a report
please ensure you include a (750 words) to the Scholarship panel
Front Page with the following outlining the knowledge gained and
information: overall benefit of the program. Both
a. Aon Benfield Scholarship 2018 the report and winning essay will
be considered for publication in the
b. Full name ANZIIF Journal.
c. Phone number
d. Word count: (do not include
footnotes, bibliography or front
page)
e. Date of submission
8Aon Benfield Scholarship 2018:
Application Form
Personal details
Title Mr Ms Mrs Miss Dr ANZIIF Master ID
Surname Preferred name
Other given name(s) Date of birth (dd/mm/yyyy)
Organisation
Position
Street/PO box
Suburb/City State Postcode
Business phone Mobile
Email
Manager details
Name of immediate manager
Title of immediate manager
Applicant’s declaration
I wish to be considered for the Aon Benfield Scholarship. I declare the information supplied in this application and the
supporting documentation correct, complete and meets the specified criteria. Should my application be successful I give
permission to the award panel to publicise my name, position, company and details of my essay submission.
Applicant’s signature Date (dd/mm/yyyy)
Endorsement of CEO or Senior Executive Manager
My company supports the application of (insert applicants name)
for the Aon Benfield Scholarship and will support their international work and study should they be successful.
CEO/Senior Executive
Manager signature Date (dd/mm/yyyy)
Print name
Position title
Please email the application form, essay and all supporting documents to:
Marise Maechler
Aon Benfield
marise.maechler@aonbenfield.com
9About Aon About ANZIIF
Aon is the leading global provider of risk management, insurance Established more than 130 years ago, the Australian and New
and reinsurance brokerage, and human resources solutions and Zealand Institute of Insurance and Finance (ANZIIF) is the leading
outsourcing services. Through its more than 66,000 colleagues membership and education organisation for the insurance and
worldwide, Aon unites to empower results for clients in over 120 finance industry in the Asia-Pacific region.
countries via innovative and effective risk and people solutions and ANZIIF’s purpose is to lead and engage the industry through education
through industry-leading global resources and technical expertise. and the promotion of professional standards, enabling those in all
Aon has been named repeatedly as the world’s best broker, best insurance sectors to achieve career and corporate aspirations.
insurance intermediary, reinsurance intermediary, captives manager
With 14,000 members across the globe and spanning the breadth
and best employee benefits consulting firm by multiple industry
of the industry, ANZIIF is committed to providing a professional
sources. Visit aon.com for more information on Aon and aon.com/
community and supporting insurance professionals throughout
manchesterunited to learn about Aon’s global partnership and shirt
their working lives, from those just starting out to those at the
sponsorship with Manchester United.
height of their career.
aon.com
anziif.com
© Aon plc 2018. All rights reserved.
The information contained herein and the statements expressed are of a general nature
and are not intended to address the circumstances of any particular individual or entity.
Although we endeavor to provide accurate and timely information and use sources we
consider reliable, there can be no guarantee that such information is accurate as of the
date it is received or that it will continue to be accurate in the future. No one should act
on such information without appropriate professional advice after a thorough examination
of the particular situation.
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