30th June 2015
INSEAD Raises Level of Professionalism Among Tawuniya Managers
Tawuniya’s senior management directors have participated in the Advanced Management Program, organized by the INSEAD Business School, which is one of the most prestigious business institutions in the world, in conjunction with Tawuniya’s Talent Development Centre.
Mr. Raeed A. Al-Tamimi, Chief Executive Officer of Tawuniya Insurance Company, stated that the Advanced Management Program intake over three consecutive days covered areas concerning: strategy, corporate performance and corporate financials.
Al-Tamimi added that Professor Neil Jones and Professor David Young from INSEAD Business School offered the explanation and clarification of a number of topics related to the theme of the program, including: value creation and value capture, strategic options, competitive advantage on offense and defense, strategy innovation and analyzing financial statements.
He explained that this program supports the skills of Tawuniya’s managers to develop medium and long-term strategies that directly contribute to supporting the leadership position of the company and raising the operational and financial performance which is reflected positively on their ability to offer insurance programs and first-class service goals.
The advanced management program is part of the 2015 Tawuniya Training Plan, which aims to enhance the management and technical skills of Tawuniya’s staff and the level of professionalism of young Saudis to work in the field of insurance and even assume leadership positions in the company, Al-Tamimi pointed out.
For his part, Professor Miguel Lobo, Director of Campus INSEAD in Abu Dhabi, expressed his pride in working with Tawuniya, which played an important role in advancing Saudization within the insurance sector.
Lobo called on all Saudi companies to take such a crucial step in the training of managers in enhancing management performance and lifting production capacity for work teams.
"We look forward to advancing learning through further cooperation and joint action in the future with the Company for Cooperative Insurance", he added.
Lobo asserted that INSEAD is fully committed as a leading destination in Administrative Sciences, to provide all training programs that meet the needs of the business community in the region aimed at raising the administrative and operational performance, while increasing financial efficiency of companies, so as to enhance the competitive professional levels.
He also simultaneously pointed out that the advanced management program works to enable executives by providing them with the best and the latest management practices across different business sectors.
In addition, Tawuniya has succeeded in raising its Saudization ratio to up to 77%, which is one of the highest Saudization rates in the Saudi insurance market. The company looks forward to increasing this rate to more than 80%.
With this in mind, Tawuniya has developed a recruitment program to attract first rank graduates from Saudi universities as well as conducting the Fast-Track Insurance Technical Program, which aims to train a generation of Saudi professionals specializing in the insurance sector. The first batch of trainees from this program graduated last year, with the second batch of graduates currently under preparation procedures.