Olivier Dubois, Chairman, OLEA: "I am delighted to announce the launch of OLEA Impact, a new step in our commitment to Corporate Social Responsibility(|CSR). OLEA Impact will bring together all the CSR initiatives of our 25 subsidiaries around three main pillars: Health, education and environment.

At OLEA, we firmly believe that our success goes hand in hand with a positive impact on the communities we serve. That's why we're committed to supporting social and environmental projects that make a real difference.  

In 2023, we took collective action with all our subsidiaries to mark Pink October, breast cancer awareness month. Some of our subsidiaries organised external events with our customers and partners to raise awareness and encourage them to take part in screening sessions. Others organised in-house sessions for our teams to raise awareness and pledged financial support to certain associations. A case in point is our Ghanaian subsidiary, which has renewed its commitment and support for the 5th year in the ‘JEAD Foundation’, an NGO which works to support rural women in need, so that they can overcome the challenges of breast cancer.

This year, our Moroccan subsidiary also joined forces with ’La Maison de l'Espoir’, to support children with cancer in Morocco.

At our annual conference in Marrakech in March 2024, we presented the OLEA Impact award to Ramatou Salifou, Managing Director of OLEA Niger, in recognition and respect of her ongoing contributions for CSR, both in her professional and personal life. Well done, Ramatou!

Stay tuned to find out how OLEA Impact is shaping a more ethical and sustainable future for all".

In a world where technology dominates almost every aspect of our professional and personal lives, cybersecurity has become a top priority for all businesses. As a Pan-African insurance broker, OLEA understands the importance of protecting data and IT systems from digital threats.

According to Bryan Rangapanaiken, Head of our IT Systems’ Security, OLEA, "Africa's growing reliance on digital technologies is having a major impact on the continent's businesses. Rapid advances in Information and Communication Technologies (ICT) have transformed the day-to-day operations of African businesses. However, this growing dependence also presents significant challenges. Interpol estimates that cybercrime costs Africa $4 billion a year."

Cybersecurity is a major issue for all businesses, but it is of particular importance in the insurance sector. On a daily basis, insurers deal with huge quantities of sensitive data - their customers' personal and financial information. This makes them a prime target for cybercriminals seeking exploitable information.

Ayouba Seydou, Group Placement and Reinsurance Director: "We are increasingly faced with headline-grabbing data breaches around the world, the loss of personal and corporate data with far-reaching consequences. The majority of articles concern the type of data loss that impacts people on a personal level: Credit card numbers, medical records, ID documents, birth dates, etc. We should also be aware of the impact of the loss of corporate data and information like intellectual property which, in the hands of a competitor or an extortionist, can seriously disadvantage the business."

Faced with these growing challenges, it's essential for businesses to take proactive steps to strengthen their cybersecurity. That's where cyber insurance comes in.

Cyber insurance ensures the continuity of a business, reducing the financial impact (loss of sales, costs and expenses, claims and assets) and operational impact (confidentiality, reliability and availability), as well as the impact on reputation and information systems.

There are two types of coverage:

Damage cover:

• Business interruption
• Costs incurred by the customer
• Protection of personal data
• Defence costs and sanctions in the event of an investigation
• Attempted cyber extortion

Civil liability coverage:

• Claims following a computer’s breach of confidentiality in terms of personal data
• Multimedia coverage

OLEA is committed to helping companies protect themselves against digital threats. We work closely with our customers to assess their risks, design tailor-made insurance programs and support them in implementing effective cybersecurity measures.

It was also the reason for OLEA’s participation as a sponsor in the Cyber Africa Forum on April 15 and 16, 2024. This premier event brings together Africa's leading cybersecurity experts to discuss the latest trends, challenges and best practices in this ever-evolving field. Our participation demonstrates our commitment to protecting African businesses from cyberattacks and our willingness to contribute to the advancement of cybersecurity on the continent.

Together, we can build a safer, more resilient digital future for all businesses in Africa. Protecting your business from cyber threats is a top priority and OLEA is here to accompany you on this journey. Contact us to find out how we can help you strengthen your digital security and protect the future of your business. info@olea.africa