Allianz Global Corporate & Specialty (AGCS) Asia-Pacific has appointed Rakshana Jaburooth (pictured right) as chief executive officer, serving a term of one day.
Jaburooth, 15, is a student at St Margaret’s Secondary School in Singapore, and was selected from 280 students of the school to run AGCS’s Singapore office as part of a reverse mentorship program. Mark Mitchell (pictured left), Asia-Pacific CEO of AGCS, participated in a food and nutrition class in the school as part of the swap.
According to AGCS, the program aimed to promote awareness of corporate insurance and its importance in daily life among students, especially girls, as well as help the company to better understand the mindset and preferences of the younger generation.
At the start of the business day, Jaburooth was given 10 million worth of Allianz dollars and during various activities over the course of the day, had the opportunity to spend the money on staff well-being initiatives, paying claims, or investing it in high-low risk options.
In the mock underwriting session, she was presented with various business cases to insure, such as protecting a shopping mall from damage, a telecommunications company from cyberattacks, a paper factory from fire and a ship carrying cargo through the Gulf of Eden. By the end of the day, she learned how her insured cases fared in a claims session. By spinning a wheel to simulate the element of chance when it comes to claims values and exposure, she eventually emerged with a profit of 2.7 million Allianz dollars, a margin that would make most CEOs envious.
“We wanted to share with the wider business community the importance of investing in the future generation of leaders,” said Mitchell. “We see this as an opportunity to gain some ideas and understand what type of culture and environment the youth would like to work in, to better engage and motivate our existing and future workforce.”
“The talent roundtable was particularly enlightening and my favourite session of the day as it opened my eyes to the various career opportunities within the insurance industry,” said Jaburooth about her one-day term as CEO. “This day will stay with me forever.”