May 19, 2020

The World Bank’s MIGA arm to target Kenya’s Nairobi-Nakuru Highway

kenya
US
The World Bank
MIGA
professo
2 min
The World Bank’s MIGA arm to target Kenya’s Nairobi-Nakuru Highway

The Washington-based Multilateral Investment Guarantee Agency (MIGA) will focus its operations in Kenya on firms associated with the Nairobi-Nakuru Highway.

The insurance unit of the World Bank is aiming to diversify the current focus on the nation’s energy sector.

“We are looking at Nairobi-Nakuru Highway that National Treasury has put up for bidders. I understand they will be announcing the successful bidder very soon,” stated Vijay Iyer, Vice President and Chief Operating Officer of MIGA.

The company intends to offer its insurance to cover non-commercial risks to the winning contractor of the Sh55bn (US$544.7mn) project, as well as improving the company’s funding access.

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“That is one project that is big and very transformational at it will strengthen Kenya’s logistical backbone. We are hoping that we will have a role to play in its success.”

“We see a lot of opportunities here in supporting government in some PPP projects by bringing in quality private investors and finding ways in which the projects can be structured to ensure resources that are coming in are well prices and carry a much longer tenure.”

Africa accounts for 23% of MIGA’s total global portfolio, with the continent’s portfolio value hitting Sh500bn ($5bn).

The World Bank arm intends to increase its work in Africa to total 33% of its global operations in three years.

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Jun 14, 2021

5 minutes with... Janthana Kaenprakhamroy, CEO, Tapoly

Tapoly
Insurance
Leadership
Digital
Kate Birch
3 min
Heading up Europe’s first on-demand insurance platform for the gig economy, Janthana Kaenprakhamroy is winning awards and leading with diversity

Founder and CEO of award-winning insurtech firm Tapoly, Janthana Kaenprakhamroy heads up Europe’s first on-demand insurance platform for the gig economy, winning industry awards, innovating in the digital insurance space, and leading with inclusivity.

Here, Business Chief talks to Janthana about her leadership style and skills. 

What do you do, in a nutshell?

I’m founder and CEO of Tapoly, a digital MGA providing a full stack of commercial lines insurance specifically for SMEs and freelancers, as well as a SaaS solution to connect insurers with their distribution partners. We build bespoke, end-to-end platforms encompassing the whole customer journey, but can also integrate our APIs within existing systems. We were proud to win Insurance Provider of the Year at the British Small Business Awards 2018 and receive silver in the Insurtech category at the Efma & Accenture Innovation in Insurance Awards 2019.

How would you describe your leadership style?

I try to be as inclusive a leader as possible. I’m committed to creating space for everyone to shine. Many of the roles at Tapoly are performed by women and I speak at industry events to encourage more people to get involved in insurance/insurtech. Similarly, I always try to maintain a growth mindset. I think it’s important to retain values to support learning and development, like reliability, working hard and punctuality.

What’s the best leadership advice you’ve received?

Build your network and seek advice. As a leader, you need smart people around you to help you grow your business. It’s not about personally being the best, but being able to find resources and get help where needed.

How do you see leadership changing in a COVID world?

I think the pandemic has proven the importance of inclusive leadership so that everyone feels supported and valued. It’s also shown the importance of being flexible as a leader. We’ve had to remain adaptable to continue delivering high levels of customer service. This flexibility has also been important when supporting employees as everyone has had individual pressures to deal with during this time. Leaders should continue to embed this flexibility within their organisations moving forward.

They say ‘from every crisis comes opportunity’, what opportunities do you see?

The past year has been challenging, but it has also proven the importance of digital transformation in insurance. When working from home was required, it was much harder for insurers to adjust who had not embedded technology within their operating processes because they did not have data stored in the cloud and it caused communication delays with concerned customers at a time when this communication should have been a priority, which ultimately impacts the level of customer satisfaction. This demonstrates the importance of what we are trying to achieve at Tapoly in driving digitalisation in insurance and making communication between insurers and distribution partners seamless. 

What advice would you give to your younger self just starting out in the industry?

Start sooner, don’t be afraid to take (calculated) risks and make sure you raise enough money to get you through the initial seed stage.

 

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