Andrew
Champions Insurance has appointed veteran insurance executive Lovemore Madavo as its new managing director, as the company restructures to compete with other big players in the short-term insurance business.
Mr Madavo comes with vast experience and leadership skills, having worked in the insurance industry for over 37 years.
He has led a number of insurance companies since starting off as a trainee underwriter at Zimre Holdings Limited (ZHL), to managing director at Credsure.
Mr Madavo has a colourful insurance resume that includes being deputy general manager at Zimnat and leading the merger of Orion Insurance and Central African Insurance Brokers to form Altfin Insurance.
He has extensive experience in short-term insurance, covering motor vehicle insurance, property insurance, agriculture insurance, bonds and guarantees.
This places him in a vantage position to steer Champions to greater heights as it seeks to break into the top three short-term insurers in the local market.
Mr Madavo said he accepted the challenge of heading Champions Insurance after being attracted by its digital-based insurance thrust.
“I joined Champions because I enjoy the challenge of running a fully fledged insurance company again. I like the way we do things here, including our information technology-driven approach. This allows us to sell products and collect premiums on the go,” said Mr Madavo.
The new managing director has an array of qualifications, which include a law degree from the University of Zimbabwe.
He also holds an MSc Risk and Insurance degree from the National University of Science and Technology.
Mr Madavo is an associate of the Chartered Insurance Institute (UK) and an associate of the Insurance Institute of South Africa (SA). He has done several short-term courses with the University of Witwatersrand Business School, Insead Business School (France) and SwissRe.
He is currently completing arbitration studies with an institution in Switzerland.
Online Reporter