NAICOM, CIIN collaborate to drive operational efficiency

The National Insurance Commission (NAICOM) and the Council of the Chartered Insurance Institute of Nigeria (CIIN) have concluded an arrangement to drive operational efficiency with a stronger growth agenda for the industry.

The agreement was a product of a meeting between the Commissioner for Insurance and the CIIN delegations, led by its President, Yetunde Ilori, on how they can increase insurance awareness in the country.

At the meeting, other key industry matters were discussed and agreed upon.

Ilori expressed gratitude to the commission for outstanding achievements so far at the commission. She also reaffirmed the CIIN’s commitment to collaborating with the commission on various insurance initiatives.

“We are also thinking of a quiz competition where we would be giving prizes to secondary school students. These are areas where we can move people in the right direction; we can improve the environment further and at the same time. We will make 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.

“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, we will release our published research to the industry,” she said.

The Commissioner for Insurance, Olusegun Omosehin, commended the CIIN for the visit, reaffirming his commitment to maintaining a cordial relationship with the body.