Focus on insurance section

THE Motor Vehicle Insurance Ltd (MVIL), in line with state-owned enterprise (SOE) reforms, is trying to improve its insurance section through its subsidiaries Pacific MMI and Pacific RE.
Managing director Michael Makap told The National that MVIL’s reform focused on the two companies because they had been struggling.
“We are looking at bringing in some efficiency and improvement in the way we do things in the capacities of both businesses,” he said.
“Management is a big issue, we are trying to get some good managers, good insurance executives in there to try to change these two companies around.
“That has taken a significant amount of time because right now, we are looking for two insurance executives to run these two companies.
“While looking for them, we are also working with some external resources to try to bring in a lot of efficiencies and improvements in the business processes and people capacity and underwriting capacity because insurance is all about underwriting (risk management).
“Those are the agendas we are dealing with.”