NAICOM tasks stakeholders on joint efforts to reposition CIIN
The National Insurance Commission (NAICOM), has called for joint efforts to reposition the profession, and rebrand the Chartered Insurance Institute of Nigeria (CIIN).
The Commissioner for Insurance, Mohammed Kari, made the call at the 48th investiture of Funmi Babington-Ashaye, as the new CIIN President in Lagos.
The Commissioner, who was represented by the Deputy Commissioner on Technical, Sunday Thomas, said: “It is imperative for the sector to ask how many of these CIIN certified and qualified members have exhibited and sustained the spirit of the profession.
He added: “How many of us conduct our business in line with the ethics, standards and principles that guide the practice of an insurance professional. These are some concerns I felt we should try to address especially as we usher in a new era and leadership in the Institute.
“The current developments in the country obviously call for our collaborative effort to reposition the profession and rebrand the Institute. With the benefit of hindsight, it is apparent that no arm of the industry can do it standing alone.
“The achievements of the CIIN over the years could not have been possible without the active support and participation of all arms of the industry. I want to implore every segment of the sector to continue to work together and grow the industry for the benefit of all.”
He further said: “There is obvious need for a reawakening to ensure our trained professionals are continually retrained and equipped with prevailing skills and knowledge for optimal performance in line with international best practice.”
He assured that the Commission would continue to support the Institute to ensure that insurance professionals are regularly updated to enable them align with current global trends.
“Suffice it to say that it is high time that the CIIN as a professional body reinvented itself, updated its curriculum to either adopt or adapt contemporary best practices for the overall benefit of the profession. I will implore our brand new president to treat these issues as priority in her agenda. These steps when taken will certainly engender respect and credibility for the Institute and the insurance industry.
“It is expected that the new president will consolidate and build on the achievements of her predecessors to lift the Institute and the profession to another level from where it is currently.”
Meanwhile, the new President pledged that she would focus on regular advocacy; professional development; enhanced insurance awareness; continued efforts on the institute’s building and reorganisation of the secretariat during her tenure to reposition insurance practice.
She disclosed this at her investiture ceremony in Lagos, adding that the theme of her tenure as the 48th President of the Institute is, Insurance: Imperative for Education and Enlightenment.
She posited that the choice of the theme was informed by the need to confront lack of general awareness, which is the greatest challenge facing insurance profession and the Industry.
She noted that people lack knowledge about Insurance and its importance in all human endeavours including business undertakings and that this manifests in poor patronage of insurance products by the public and the unwillingness to choose Insurance as a course of study by the youths.
“As an Institute, we must continue to take deliberate steps to address these issues with a view to repositioning the profession in the psyche of the people. We must build on the past efforts of our predecessors and the awareness drive of other stakeholders in the industry.
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