CIIN tasks operators to adopt tech tools in claims settlement

The Chartered Insurance Institute of Nigeria (CIIN), has urged underwriting firms to embrace technology tools in their premium payment system, in order to curb fraudulent activities among agents in the country.

The President, CIIN, Lady Isioma Chukwuma, said this during a courtesy visit to the headquarters of The Guardian Newspapers in Lagos.
The move is to ensure that all agents are registered with the National Insurance Commission (NAICOM), and pass through the training process of both the Commission and the Institute.

Irked by the allegations of fraud against insurance agents, the CIIN President said the financial service industry, which the insurance sector is a part of, is discouraging cash transactions in favour of online payments to eradicate fraud.

Chukwuma restated the commitment of the Institute to place the insurance industry in a prime position in the financial services sector and the national economy as a whole adding that CIIN has substantially achieved its 11-point agenda during the course of her presidency.

Part of her achievement, she said, included the recognition of the CIIN Certificate by the Head of Service of the Federation to ensure that the certificate holders are appropriately placed in the Civil Service structure.

The Director General, CIIN, Richard Olutayo Borokini, said: “Putting the CIIN on the global stage will involve articulated efforts geared toward enhancing the Institute’s certificate for global acceptability, especially by up-scaling the collaboration with the Chartered Insurance Institute (U.K.).

“Follow-up on the recognition of the CIIN Certificate by the Head of Service of the Federation, we will ensure that all necessary approvals are obtained so that our certificate holders are appropriately placed in the Civil Service structure.”

He added that further work on achieving wider coverage are in the areas of presentation and distribution of the Institute’s sponsored insurance textbooks for Senior Secondary Schools; renewed pursuit of training for insurance teachers on a national scale; and completion of the Institute’s examinations syllabus review.