Brokers eye software to boost regulatory compliance

The Nigerian Council of Registered Insurance Brokers (NCRIB), has approved the proposal for a shared service agreement where a software will be designed to assist members comply with National Insurance Commission (NAICOM), requirements and avoid penalties, its President, Kayode Okunoren, has said.

Okunoren, whose tenure as the helmsman of the brokers’ fraternity will end next month, said in Lagos that a focus of the governing board is to continually give value to members and enhance their compliance with regulatory requirements expected of them.

“I am most delighted that the Board has just approved the proposal for a shared service agreement where software is designed to assist members comply with NAICOM requirements, and avoid penalties. Circulars explaining the full detains of this initiative will be circularised to members,” he said,

According to him, the task of leading the Council, sustaining the legacy of the founding fathers, making the profession worth the while, and leaving a good legacy behind for upcoming professionals have been so enormous.

“It is almost two years now that this administration came on board, I must confess that it has been two years of assiduous work, and I like to appreciate the staunch support that I got from the Board and all members, without which, these modest achievements would not have been possible. I am persuaded beyond reasonable doubts that the herculean tasks of ensuring that our vocation becomes an enviable profession has been sustained, even though, we are not yet there, but we are no more where we used to be,” he posited.