Bayes Business School to coordinate UK-Saudi insurance talent and technical capability roadmap

Bayes Business School is coordinating the development of UK-Saudi insurance talent and technical capability, following a roundtable with Saudi Arabia’s Insurance Authority (IA).

Delegates from Saudi Arabia joined representatives from leading UK professional and industry organisations at Bayes to discuss the Kingdom’s ambitions, training needs and accreditation opportunities in support of Saudi Vision 2030.

The meeting was co-chaired by H.E. Abdulaziz Al-Boug, Chairman of the IA and Governor of the General Organization for Social Insurance (GOSI), and Professor André Spicer, Dean of Bayes Business School. The session was moderated by Sir Alastair King, former Lord Mayor and Professor of Practice in International Trade at City St George’s, University of London.

Participants included representatives from the Chartered Insurance Institute (CII), Institute and Faculty of Actuaries (IFoA), Chartered Institute of Loss Adjusters (CILA), Institute of Risk Management (IRM) and Aon, alongside representatives of His Majesty’s Government.

During the meeting, the Insurance Authority outlined ambitions for Saudi Arabia’s insurance and pensions sector and potential areas of collaboration, including specialist technical and leadership development, on-the-job learning, accreditation, data-sharing, joint academic programmes and faculty development.

The roadmap builds on an existing partnership, which sees the IA sponsoring Saudi students on Bayes MScs, including Bayes’ MSc in Insurance and Risk Management, MSc in Actuarial Science and MSc in Actuarial Management courses.

Dr Simone Krummaker, Head of the Faculty of Actuarial Science and Insurance at Bayes, said:

“Our partnership provides a strong foundation for a much broader ambition: developing talent and technical capability across the insurance sector in Saudi Arabia.

“As a globally recognised Business School with leading expertise in risk, actuarial science and insurance, Bayes brings together academic excellence and practical industry expertise. The roundtable provides an opportunity to combine these strengths with those of our professional and industry partners to develop education and training pathways that connect academic learning with real-world experience.

“We look forward to working with the Insurance Authority and our partners to strengthen Saudi expertise and build sustainable capabilities that support the long-term ambitions of the Kingdom’s insurance sector.”

Ian Stromsmoe, Executive Education Client Director at Bayes, said:

“At Bayes we have led the way in Executive Education for more than half a century, providing both open enrolment and bespoke programmes to clients all over the world.

“It was exciting to hear Saudi Arabia’s ambitious plans for developing skills and knowledge pathways, and we look forward to working closely with the Insurance Authority to create programmes that deliver teaching, training and professional accreditation to enhance its insurance sector.”

Posting on X, Eng. Naji Al-Tamimi, CEO of the Saudi Insurance Authority said:

“It was an immense source of pride to meet the Saudi students pursuing master’s degrees through the Insurance Authority’s scholarship programme during our visit to London.

“I was also pleased to participate in Saudi insurance talent and technical capability partnership sessions with Bayes Business School. These partnerships support our efforts to develop national talent in the insurance sector”

Read more about Executive Education at Bayes Business School.