Teen 'earns' $2.7m profit for insurer as CEO for a day

Sec 4 student Jaburooth Rakshana with Mr Mark Mitchell, Allianz Global Corporate and Specialty's (AGCS) regional CEO for Asia-Pacific, whose office she took over for the day. With them are Ms Irene Yeo (at far right), regional head of planning and pe
Sec 4 student Jaburooth Rakshana with Mr Mark Mitchell, Allianz Global Corporate and Specialty's (AGCS) regional CEO for Asia-Pacific, whose office she took over for the day. With them are Ms Irene Yeo (at far right), regional head of planning and performance management in AGCS' finance team; and Ms Wendy Koh, the firm's regional head of marketing and communications for Asia-Pacific.ST PHOTO: JOSEPH CHUA

Fifteen-year-old Jaburooth Rakshana "made" a profit of $2.7 million yesterday, by underwriting several cases that insured clients from potential risks, such as piracy at sea and accidents in shopping malls, among other possible hazards.

She was playing chief executive officer for the day at Allianz Global Corporate and Specialty, a corporate insurance company, in a student-CEO swop organised with her school, St Margaret's Secondary School.

The Secondary 4 student had beaten 19 of her peers across the Normal (Technical), Normal (Academic) and Express streams in a competition to win the position.

The programme sought to increase awareness of the corporate insurance industry and groom female leaders.

The company's regional CEO for the Asia-Pacific, Mr Mark Mitchell, 51, added that it was also a way to better understand what Rakshana and her peers were looking for in their future employers.

When Rakshana arrived for work in the Marina Downtown area, she met her personal assistant, Ms Gina Ismail, and took over Mr Mitchell's office for the day.

She learnt about the basics of the insurance industry, and chose cases to insure.

The programme sought to increase awareness of the corporate insurance industry and groom female leaders. The company's regional CEO for the Asia-Pacific, Mr Mark Mitchell, 51, added that it was also a way to better understand what Rakshana and her peers were looking for in their future employers.

The cases ranged from insuring a telecommunications company for cyber risks to fire and earthquake damage at a paper manufacturer.

She also suggested staff welfare initiatives, such as holding a sports carnival and activities like archery and coding.

At the end of the day, Rakshana learnt how her insured cases fared. For instance, a ship she insured ran into pirates in the Gulf of Aden, while burst pipes in a shopping mall that she insured resulted in a collapsed ceiling.

She then spun a wheel - representing the element of luck - that determined the amount of money the company had to pay its clients.

Fortunately, she still came out on top, as the premiums earned were higher than the claims.

Mr Mitchell had earlier last August joined the school for lessons. The principal of St Margaret's Secondary, Madam Lee Lin Yee, 40, said the role-swop highlighted the importance of learning continuously, regardless of one's profession.

Rakshana felt proud of herself for doing her best.

"This whole day is going to be with me forever," she said.

A version of this article appeared in the print edition of The Straits Times on January 08, 2019, with the headline 'Teen 'earns' $2.7m profit for insurer as CEO for a day'. Print Edition | Subscribe