“There is not a single academic institution in Europe that offers what Bayes Business School does in terms of specialised, rigorous and robust insurance and risk management programmes.”
These are the words of Manal Mashkoor, Head of the Insurance Centre at the Bahrain Institute of Banking and Finance (BIBF).
Bayes Business School (formerly Cass) began a partnership with the BIBF, delivering London-based programmes for regional executives in areas including Strategic Leadership Development, and Innovation in the Insurance Industry.
“Bayes is the gold standard of insurance.”
"If you ask any insurance executive in the Middle East and North African region, they will know of Bayes and the quality of the education and professional training they provide. There is no other choice."
Executives and managers from the region’s insurance companies, as well as representatives from regulators in Bahrain and Saudi Arabia, came together for a five-day programme titled ‘Leading Value Creation in the Insurance Industry’.
The Bayes approach: A custom-built experience
Manal explains how the BIBF and Bayes developed the programme together:
"It was important that we offered a bespoke experience to our clients. The insurance industry is specialised, and generic programmes in strategy, finance, governance and compliance won’t satisfy our clients’ needs. They consider themselves unique within the financial services industry, and that merits customisation in training delivery. We designed the programme with Bayes so that the curriculum, the faculty and the case studies are all specific to insurance and that tailored approach is what attendees valued most about the course."
The programme featured several of Bayes’ world-leading academics in Innovation, Digital Transformation and Mergers & Acquisitions (M&A), with a specific focus on the Insurance and Risk Management sectors.
Responsive to emerging trends
“When we first started discussing the curriculum with the Bayes team, we identified that one of the topical issues on the agenda in the Middle East is Mergers & Acquisitions, so we developed a day’s content around this.”
Other specialist themes included Digital Transformation and How Innovation in Technology Presents Challenges for Traditional Insurance Companies. Environmental Social Governance (ESG) is another key theme emerging for the sector, and the BIBF and Bayes have discussed how sustainability can feature strongly in future programmes.
A partnership built on strengths
Manal explains how the partnership works:
"The Bayes team has a high level of expertise and international exposure, but they balance this with very active listening, and the flexibility to customise programmes to our exact needs. The BIBF identifies the target audience, and through talking to CEOs and executives in the region we can tailor the themes to our market and the challenges they want to focus on."
“Our relationship with Bayes is the definition of a true partnership.”
The ultimate London experience
Manal explains how London is a city which has a special place for people working in insurance in the Middle East:
"Both historically and in today’s climate, London is the market on which most of our practices are based. Attending an executive education course in the home of general insurance just makes perfect sense."
Many participants on the programmes have been selected by their organisations as part of their strategic succession planning to develop the next generation of CEOs. Manal says:
"In a close-knit insurance market of the GCC, having someone attend one of our courses sends a message to the sector as to who you have identified as your future leader."
For other organisations, the training is a reward used by HR Directors and Senior Managers to recognise high-performing staff with potential.
"We bring them to London and take them out of their operational day-to-day environment. They learn from the best academics, network with like-minded people from the same industry facing similar challenges and do this in one of the most attractive cities in the world."
“The programme exceeded my expectations.”
Omar Al Aseeri is Chief Life Insurance Officer at Bahrain National Life.
"The programme exceeded my expectations. The professors had extensive work experience in the corporate world and delivered invaluable information that was well structured, practical, and thought-provoking."
- Omar Al Aseeri, Chief Life Insurance Officer, Bahrain National Life
Omar gave three specific highlights of the programme:
- The deep dives into M&A processes, which included high profile examples which Bayes’ professors oversaw during their time working in the corporate environment.
- World-leading professors who offered new academic knowledge on customer-centricity, customer acquisition costs and retention strategies.
- Analysing case studies in groups with colleagues that had executive experience in the insurance sector from Bahrain and Saudi Arabia, which created a stimulating environment for debate and discussions.
Zeyad Zainal is Senior Manager, Digital Transformation, for gig Bahrain. He says the course gave him “a comprehensive overview of a wide range of strategic topics relating to product innovation, creating value from your customer base, executing a successful digital strategy, capitalising on technology to drive business, and more.”
He cited the programme’s condensed format and the professors’ wide range of industry experience as key benefits, which “made it possible to learn a lot in a short period of time, all while keeping us engaged with real-world cases.”
“I would highly recommend the programme to leaders at all levels and industries.”
- Zeyad Zainal, Senior Manager, gig Bahrain
The programme runs for a second time in April 2024.
The Bahrain Institute of Banking and Finance
The Bahrain Institute of Banking and Finance (BIBF) was established in 1981, under the umbrella of the Central Bank of Bahrain. The BIBF plays a vital role in the training and development of human capital in the Kingdom of Bahrain. As a leading provider of education across all major business disciplines, the BIBF is recognised for the value, thought-leadership and quality of its programmes. The BIBF provides programmes and initiatives to train and develop human capital in the Kingdom of Bahrain, in addition to 64 countries worldwide, giving it a prominent global footprint. The BIBF began working with Bayes Business School in 2019.
Bayes Business School
For more than 50 years, Bayes Business School (formerly Cass) has been leading the way in Executive Education. Bayes’ custom programmes help organisations excel in uncertain environments, becoming better prepared to respond to a world which is ever changing.
Based in the City of London, Bayes is among the global elite of business schools and holds the gold standard of 'triple crown' accreditation from AACSB, AMBA and EQUIS.
The School’s faculty consist of world-class academics and industry-leading practitioners. Bayes academics explore imaginative new angles, asking difficult questions to produce ground-breaking research that has a positive impact on business, society and the environment.
Learn more
Find out how Bayes Executive Education team can help you meet your organisation’s business needs and challenges.
Contact
To speak with a member of the Executive Education team, please email us or visit our contact page.
