Background 

The NicozDiamond Think Tank Competition is designed to improve youth employability by providing students with a unique opportunity to work on real life business challenges and gain access to mentors from business leaders. This project is a unique talent acquisition quest to discover students who have real time business solutions for the insurance industry.

NicozDiamond Insurance (NDI) is looking to foster and encourage creativity and innovation amongst tertiary students to successfully integrate continuous cycles of innovation that will position students as market leaders in product development and innovation in the country and abroad.

Objectives

The overall objective of the NDI Think Tank Competition is to stimulate innovations and partnerships between NicozDiamond and academic institutions by supporting an innovation challenge for students at training institutions that can be implemented in the insurance market.

Other objectives are as follows:

  • Establishment of new technologies and business models that make insurance more inclusive or use collaborative solutions to improve insurance penetration by tapping into the student base;
  • To facilitate best practices in product development and innovation in insurance for the purpose of meeting clients’ needs and wants.
  • Supporting skills development for students in the risk management and insurance industry by creating opportunities for hands on field work.
  • Collection of ideas that create innovations that empower disadvantaged people to fully participate in the Insurance Industry and gain revenue from employment or entrepreneurship such as new distribution channels.
  • To broker joint ventures between training providers and industry/enterprises in skills development. 

Expected Outcomes:

  1. Projects contributing to the sustainability agenda of the company.
  2. An innovative and bankable project.
  3. A customer, systems or process focused strategy.
  4. Mentoring opportunity for students.

Project Description 

University students to submit concept notes to implement an innovative strategy at NicozDiamond.

 Entry Criteria:

  1. The competition is open but not limited to students, studying Risk Management and Insurance, Actuarial Studies, Marketing and Computer Science.
  2. The competition is open to all University students in Zimbabwe
  3. Third and Final year students are the main target of this program
  4. Concept Notes could include, but are not limited to:
  • New technologies and business models that make insurance more inclusive or use collaborative solutions to improve insurance penetration;
  • Innovations that empower disadvantaged people to fully participate in the Insurance Industry and gain revenue from employment or entrepreneurship such as new distribution channels
  • Initiatives that lead to new products that are bankable and meet the client needs of NicozDiamond’s target market

Prizes offered:

  • Cash prizes worth $5,000.
  • The Grand prize winner will be given the opportunity to for the next 6 months further develop the proposal for implementation with the full backing from NicozDiamond. The winning team will be allocated space to work out of at the NicozDiamond Insurance offices.
  • Of the 9 semi-finalists one team will be selected and given the opportunity to receive mentorship at a networking breakfast with the NicozDiamond CEO.

Seminar Dates 

If you are interested in this program there is a seminar that will be held on your campus to give you more information about the next steps of participation. Register or make an inquiry by sending an email to nicozthinktank@gmail.com or call Trinity on 0773 585 468.