GRAND BAHAMA, The Bahamas -- Ministry for Grand Bahama Parliamentary Secretary, Kingsley Smith, Jr., highlighted the significance of the impending expansion of the Insurance Commission of The Bahamas to Grand Bahama.
He delivered remarks at the Insurance Commission's Stakeholders Reception at Canal House, Pelican Bay, January 21, 2025. The reception was held to unveil plans to transform the insurance industry, which incorporates expansion of services in Grand Bahama.
In attendance were the Board of Commissioners and Executive Management Team of the Insurance Commission of The Bahamas.
"We are pleased to know that the commission has decided to expand to the Family Islands and that Grand Bahama has been identified as one of the islands to have a presence,” he said.
Dana Munnings-Gray, Superintendent of Insurance, stressed that the expansion is much more than just extending the Commission’s geographical reach.
"This move is not just about expanding or extending our geographical footprint and investing in the community, it's [also] about providing employment opportunities for talented Grand Bahamians and strengthening our relationship with our registrants, licensees, and most importantly, the people of Grand Bahama," she explained.
She also announced 'InsurTech,' an innovative insurance technology course developed in partnership with Cambridge University, set to launch on January 25, 2025.
Munnings-Gray emphasised the transformative potential of the initiative, saying, “We firmly believe that in short, InsurTech will revolutionise the industry's operation, how we do business here, creating efficiencies, improving customer experiences and positioning The Bahamas as the leader in the global insurance space.”
The unveiling of these new plans creates a bright future for the insurance industry in The Bahamas, particularly in Grand Bahama, where the Insurance Commission of The Bahamas expansion will help foster growth, employment, and innovation.
Kingsley Smith, Jr., Parliamentary Secretary in the Ministry for Grand Bahama delivered remarks during the Insurance Commission of The Bahamas Stakeholders Reception on Monday, January 21, 2025 at Canal House, Pelican Bay.
(BIS Photos/Lisa Davis)
