Page 31 - Continental Reinsurance 2022 Annual Report
P. 31
Our Strategy 29
Since its inception, Continental Re has steadily evolved into a and will implement various initiatives to address this issue. We
leading reinsurance company in Africa. Renowned for its have also made a priority of strengthening our credit control
consistent provision of reliable reinsurance services and strong capabilities through analytics, technology, and industry-wide
financial performance, the outlook for Continental Re is highly advocacy.
promising. We operate in six countries and have ambitious
plans for expansion into new markets in the medium term. Customer Centricity
In pursuit of our long-term vision, which is to establish Our dedication to customer centricity drives our efforts to
ourselves as the premier Pan-African reinsurer, we recently broaden and enhance the scope of reinsurance solutions
updated our medium-term strategy for the years 2022 to tailored to the evolving needs of our expanding client base,
2024. This strategic update places a strong emphasis on four which spans 50 countries across the continent. We aim to
pivotal objectives aligned with our ambition. These objectives maintain our reputation for offering top-notch technical
include achieving profitable growth, becoming a customer- training as a contribution to fostering robust underwriting
centric company, achieving operational excellence, and capabilities in Africa.
building a smart execution culture. We are firmly convinced
that a steadfast focus on these objectives will propel us toward Operational Excellence
the realization of our vision. Continental Re's emphasis on operational excellence stems
from the fundamental need for well-engineered processes
Profitable Growth that efficiently deliver on our commitments to clients. In our
To sustain our position as the premier pan-Africa reinsurer, we pursuit of operational excellence, we are actively refining
are committed to achieving profitable growth through processes that impact the customer experience, particularly in
prudent underwriting practices in carefully selected client areas like claims management. Simultaneously, we are
segments, markets, and lines of business. As we strive to investing in the digital transformation of Continental Re while
increase our market share, we will do so in a manner that ensuring prudent cost management.
safeguards and enhances shareholder value. We will
introduce measures like tightening terms and conditions, Smart Execution
portfolio adjustments, and, wherever possible, price increases Finally, the goal of smart execution is geared toward instilling a
to enhance our underwriting results. culture of achieving the right outcomes through the right
Additionally, we will bolster our asset management individuals using the appropriate tools. Our unwavering
capabilities to improve investment returns. Identifying commitment to an ongoing digital transformation journey will
premium collections as a crucial factor in expanding investable empower our people to provide exceptional service and
funds and overall investment returns, we acknowledge the solutions to our clients.
challenges associated with premium collection across Africa
“ In our pursuit of operational
excellence, we are actively
rening processes that impact
the customer experience,
particularly in areas like claims
”management.
