By Bakare Olatunde
The National Insurance Commission (NAICOM) in alliance with the Council of the Chartered Insurance Institute of Nigeria (CIIN) has concluded arrangements to make a stronger growth agenda for the insurance industry in the new year.
The agreement fell out of a meeting between the Commissioner for Insurance and the CIIN delegations, led by its President, Mrs. Yetunde Ilori, on how they can increase insurance awareness in the country in the New Year.
At the meeting, other key industry matters were discussed and agreed upon.
The President of CIIN, Mrs. Yetunde Ilori, expressed gratitude to the commissioner for outstanding achievements so far at the commission. She also reaffirmed the CIIN’s commitment to collaborating with the commission on various insurance initiatives.
According to her, “We are also thinking of a quiz competition where we would be giving prizes to secondary school students. These are areas we can move people in the right direction, we can impart the environment further and at the same time, we are making people understand what insurance is all about,” she said.
Ilori also said the Institute has taken steps to boost research in the insurance sector, adding that the College of Insurance and Financial Management (CIFM) has been mandated to focus more on research which will help the growth of the sector.
“When we had our retreat early this year, we gave the Rector of the College a directive that mandated the college to research to find out the technical needs of the industry,” she said.
She posited that the report from the research would be released to the industry very soon. “We are working on that. We know research is part of our mandate and we are taking it very seriously. By the grace of God, before the end of my tenure, at least we must release our published research to the industry,” she said.
The Commissioner for Insurance, Olusegun Omosehin thanked the Council of the Chartered Insurance Institute of Nigeria (CIIN) for their visit, reaffirming his commitment to maintaining a cordial relationship with the CIIN.
The commissioner also assured the CIIN President that the commission remains dedicated to fostering a stronger regulatory environment.
Furthermore, Omosehin stressed the importance of addressing knowledge gaps and promoting professionalism among insurers.
He encouraged the CIIN to continue playing a pivotal role in enhancing the insurance industry’s professionalism and expertise in order to continue to maintain high standards and respect and project a positive image of the industry.
