12 July 2024
Written by Milpark Communications
Did you know you can do a degree in insurance? Nyasha Madzingira, a Senior Client Manager at one of the world’s leading insurance brokers, only discovered this later in her career – having already completed a degree in economics and a master's in risk management.
As a rising star in the local insurance industry, Nyasha chose to solidify her expertise by pursuing a Bachelor of Commerce with a major in short-term insurance at Milpark. She recently graduated with distinction. We chatted with Nyasha to learn more about careers in the insurance sector and how specialised, vocational study has already unlocked new opportunities.
Nyasha grew up in rural Zimbabwe, where fetching water and working in the fields were part of daily life, building resilience and a powerful determination to succeed. Her initial dream was to become an economist, and she completed a BSc in Economics at Africa University in Mutare. It was during a six-month industry placement at an insurance broking firm, she “fell in love with insurance.”
“I quickly realised that insurance is a versatile, vital industry that plays a critical role in supporting economic development by providing a conduit for recovery from fortuitous events.”
After a brief spell in banking, Nyasha returned to insurance and completed a Postgraduate Diploma in Risk Management and a Master of Commerce in Business Management. Her research thesis, on the effects of climate change on short-term insurance claims, highlighted her strategic, long-term thinking.
Nyasha’s success has not been plain sailing. There have been many challenges, from relocating to South Africa to juggling a career with family responsibilities, including raising two daughters.
“I never want to say that I couldn’t do something because of my children or use life’s hurdles as an excuse not to do what I am passionate about. I tapped into my faith in God, the incredible support of my husband and family. Together we always find a way forward.”
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Despite having postgraduate qualifications and a successful career, Nyasha – like many of us – experienced moments of doubt. This led to her pursuing specialised studies at an undergraduate level. “Insurance is technical. Not having an industry qualification meant I felt I may have missed some of the basics. Even the postgraduate diploma I completed in 2014 didn’t offer the insurance-specific theory I wanted.”
“There is a skills shortage in the South African short-term insurance industry. The Milpark BCom with a major in short-term insurance is sought after because it provides detailed information on the key principles, theories, regulations and specialist products that underpin the short-term insurance industry. Completing the course grants a certain level of trust and it automatically qualifies you to become a Fellow of the Insurance Institute of South Africa (IISA).”
Even though she had worked in insurance for many years, Nyasha says the Milpark experience has given her a distinct advantage. “The modules were relevant to my day-to-day work. It’s triggered new thinking and a deeper understanding of the theory, which has benefitted me and my clients. The in-depth approach to industry-specific topics like reinsurance, was enriching.”
“Because Milpark is fully online it gave me a technological advantage, futureproofing my career. I was adept at using technology, but the course took it to a new level, forcing me to adapt and giving me much more confidence from a tech perspective.”
Nyasha says that the course has changed her life. As well as enhancing her tech skills and giving her a professional short-term insurance qualification, she is now a Fellow of the Insurance Institute of South Africa (IISA). And, as a Milpark Top Achiever, she has been formally invited to be recognised at the African Insurance Exchange Conference in July 2024. “It has opened new doors and career opportunities.”
Nyasha’s goal is to make a meaningful impact in insurance and beyond. “My dreams fall into four categories – faith, family, career and community. To remain rooted in my faith; to maintain a stable, functional, united family; to be an impactful leader in the insurance industry and to contribute to communities.”
She also wants to highlight the pressing issue of climate change, the subject of her master’s thesis: “The insurance sector is strategically placed to support sustainability. Climate change is here to stay, and we need to look at how we can help mitigate its effects and create a safer world for future generations.”
Nyasha encourages others to explore careers in the insurance industry. “Most people don’t realise there’s a wealth of opportunities. Insurance is a massive industry that commands a share of the economy and employs over 100,000 people in South Africa alone.”
Milpark offers several pathways to a career in insurance, including a higher certificate, advanced certificate, undergraduate BCom, and a postgraduate diploma in risk management.
Connect with Nyasha on LinkedIn.
Milpark Top Achiever, Nyasha Madzingira, a BCom with a major in short-term insurance graduate, shares eight action tips for career professionals seeking success:
Nyasha Madzingira's journey is a testament to the power of resilience, determination, and the value of specialized education in unlocking new opportunities. Her story inspires aspiring professionals to pursue their passions, overcome challenges, and continually seek growth. By highlighting the significance of industry-specific study and sharing practical advice, Nyasha empowers others to embark on their own paths to success.
At Milpark, we celebrate her achievements and encourage everyone to explore the boundless possibilities within the insurance sector. Connect with Nyasha and join her in making a meaningful impact in the industry and beyond.