Baron plans to step-down as Parima chairman to focus on Ifrima

Franck Baron, founding chairman of the Pan-Asia Risk & Insurance Management Association (Parima) and now president of the International Federation of Risk and Insurance Management Associations (Ifrima), plans to step down as leader of Parima this year.

Baron, who has led the development of Parima from scratch to an organisation with eight permanent staff and almost 2,300 members in 23 countries, told Commercial Risk that once his resignation is formalised, and the process of appointing a new chairman completed, he will be able to focus on the development of Ifrima to become a true focal point for the international risk and insurance management community.

Parima celebrates its 10th anniversary this year and has done a huge amount to raise the profile of the risk management profession in the Asia-Pacific region, primarily through its educational, networking and thought leadership activity.

The professional association responded well to the rise of Covid-19, shifting its events and training onto a digital basis to maintain momentum.

This year it returns to physical events, with hybrid activities planned too. It is holding two major events in Mumbai in June and Tokyo in October.

The Indian event is potentially a major step forward for Parima as it expands into this enormous and fast-developing economy.

Japan is actually Parima’s most successful country in many respects. It accounts for the association’s largest national membership, representing Japan’s biggest 300 companies. Baron said that the Tokyo event represents a celebration of everything Parima has achieved since its creation back in 2012.

Baron, who is group head of risk management and insurance at International SOS, said that Parima will continue to grow and build on its success.

Another important development for Parima this year will be the creation of a separate association under its umbrella to specifically represent the interests of the growing captive owner community in the region.

This move was first announced during the association’s resilience week in November last year. Baron said that interest in captives has never been higher across Asia as the hard market continues. But it is important for risk managers to think about captives as a long-term strategic risk management tool and not just a short-term reaction to the currently tough insurance markets, he added.

The new captive association will help to spread this message and seek to work with regional insurance supervisory authorities in domiciles such as Singapore, Labuan and Hong Kong.

Baron’s leadership, energy and enthusiasm will be sorely missed at Parima. But he will remain on the board, which is now populated by 30 senior risk and insurance executives and so is well equipped to manage the transition and continue its impressive growth path.

The arrival of Baron – a former board member at AMRAE in France, Sirm in Switzerland and Ferma – at Ifrima, offers the global risk and insurance management community with a potentially very positive new chapter.

Baron has a three-year mandate at the global federation and is already busy working on a new plan to raise its profile and work with regional members.

Given Baron’s track record at Parima, it is likely that the new plans, which will be announced at the Rims conference in Atlanta in early May, will signal an exciting new direction for Ifrima.