Swiss Re announces strategic partnership with BIMTECH (Birla Institute of Management Technology)
- Swiss Re will collaborate with BIMTECH in its Post-graduate Diploma in Insurance and Risk Management (PGDM-IBM) as a technical partner
- The partnership is a first ever initiative by a reinsurance company in India
- Swiss Re and BIMTECH will support further development of insurance talent pool in India with stronger understanding of reinsurance
Greater Noida, 27 April 2015 – Swiss Re Bangalore, a subsidiary of Swiss Reinsurance Company Ltd, Zurich, today signeda Memorandum of Understanding (MOU) with BIMTECH, a premier private insurance institute in India, to collaborate as a technical partner in its Post-graduate Diploma in Management (Insurance Business Management) programme, the first-ever by a reinsurance company in India.
The MoU has been signed by Alok Kumar, Managing Director, and Amit Kalra, Head Strategic Initiatives, Swiss Re Shared Services (India) Private Limited and Dr. H Chaturvedi, Director, BIMTECH at Bengaluru.
The collaboration comes in at a time when the rise of a global knowledge economy has intensified and the need for such strategic partnerships is felt beyond just the traditional funding. Through this partnership, Swiss Re will bring in unmatched, global industry expertise, resource support on building the curriculum, access to specialised workshops along with guest lectures on reinsurance and risk management across disciplines be it health, motor, life, property, casualty or any other form of insurance needs.
Under the agreement, Swiss Re as a strategic partner will provide opportunities to tap talent from PGDM (IBM) batches in form of final/summer placements as well as for short term industry projects etc. In addition, Swiss Re will engage with BIMTECH to provide training, webinars, live projects, learning modules on market topics and industry issues, as well as workshops on reinsurance. The partnership will support further development of insurance talent pool in India with stronger understanding of reinsurance.
The Academic Advisory Council setup for BIMTECH’S Centre for Insurance and Risk Management will have an appointed member from Swiss Re Bangalore senior management who will help design BIMTECH’s long-term goals tailored to meet industry specific needs and objectives, provide counsel and support in strengthening of the curriculum and industry-academia interface.
Commenting on the collaboration, Alok Kumar, Managing Director, Swiss Re Shared Services (India) said, “The partnership is a significant step towards spreading more awareness on the diversity of the insurance industry. It is our effort to enhance the level of knowledge and skill sets in the industry, and enable students to build careers not just in sales and marketing, but in several other functions in the insurance industry, which this course is designed for. This platform will give Swiss Re and BIMTECH an opportunity to exchange insights and expertise, and help create a ready talent pool which can fill the huge demand for jobs that will be created in the insurance industry in India over the next few years”
“We’re absolutely delighted to be in partnership with Swiss Re, an iconic reinsurer with more than 150 years of history, and engaged 360 degrees in reinsurance and risk management practice. BIMTECH, a 27 year old institution of the B. K. Birla Group was also the first higher educational facility in India which offered post-graduate studies in India in the year 2000 immediately after the sector was liberalised in 1999. I’m glad that this alliance is happening when the insurance sector is poised for a giant leap of growth and Swiss Re and BIMTECH will be contributing jointly for augmenting trained insurance professionals in India,” added Dr. Harivansh Chaturvedi, Director, BIMTECH.
The PGDM (IBM) course provides specialised management skills in Marketing, Finance, I.T., HRM, and Business Analysis, and equips to insurance students with an in-depth knowledge in insurance and risk management, as well as soft skills. It aims to develop competence in management of risk through insurance with specialisation in management of insurance companies, underwriting and risk management.
The Swiss Re Group is a leading wholesale provider of reinsurance, insurance and other insurance-based forms of risk transfer. Dealing direct and working through brokers, its global client base consists of insurance companies, mid-to-large-sized corporations and public sector clients. From standard products to tailor-made coverage across all lines of business, Swiss Re deploys its capital strength, expertise and innovation power to enable the risk-taking upon which enterprise and progress in society depend. Founded in Zurich, Switzerland, in 1863, Swiss Re serves clients through a network of about 70 offices globally and is rated “AA-” by Standard & Poor’s, “Aa3” by Moody’s and “A+” by A.M. Best. Registered shares in the Swiss Re Group holding company, Swiss Re Ltd. are listed in accordance with the Main Standard on the SIX Swiss Exchange and trade under the symbol SREN. For more information about Swiss Re Group, please visit: www.swissre.com or follow us on Twitter @SwissRe.
Swiss Re has been associated with Asia since 1913 and has over 1,500 employees in Asia Pacific. The company’s Asian headquarters is in Hong Kong, and has offices in Sydney, Beijing, Shanghai, Tokyo, Seoul, Singapore, Kuala Lumpur, Mumbai and Bangalore, where it operates a global business processing office. In 2014, Swiss Re was named Employer of the Year, General Reinsurer and Life Reinsurer of the Year in Asia Pacific at the 18th Asia Insurance Industry Awards.
The Birla Institute of Management Technology (BIMTECH) [www.bimtech.ac.in] was established in 1988under the aegis of Birla Academy of Art and Culture. The institute is supported by the B. K. Birla Group of institutions. The institute is governed by an eminent Board of Governors mostly drawn from the top echelons of industry. Our guiding star is our dictum: Excellence with Values.
BIMTECH has on its rolls 400 plus students in the first as well as the second year each, 67 permanent faculty and 5 full time research associates engage the students.
BIMTECH, a fully residential facility, offers two year AICTE approved post-graduate courses in general management (PGDM), International Business (PGDM International Business), Insurance Business (PGDM Insurance Business Management) and Retail Management (PGDM Retail Management). BIMTECH also offers fellowship programmes which are recognized to be equal to doctoral degree.
BIMTECH has been ranked 6thamong the top Private B-Schools & 15th overall by NHRDN and People Matters B-School Rankings 2015.