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NAIC board strategises to increase penetration, premium income

By EDITOR
08 February 2015   |   11:00 pm
IN furtherance of the agricultural transformation agenda of the Federal Government through efficient and effective agricultural risk management, the Board of Nigerian Agricultural Insurance Corporation (NAIC) has put strategies in place to increase the corporation’s market penetration and premium income.   The company’s chairman, Barr. Chioma Ohakim, who disclosed this in Abuja, informed that the…

Ohakim

IN furtherance of the agricultural transformation agenda of the Federal Government through efficient and effective agricultural risk management, the Board of Nigerian Agricultural Insurance Corporation (NAIC) has put strategies in place to increase the corporation’s market penetration and premium income.

  The company’s chairman, Barr. Chioma Ohakim, who disclosed this in Abuja, informed that the organisation has overcame the daunting challenges which hindered it from effective pursuit of its set mandate in the past. 

  After having introduced the Plant with Peace Programme (PPP) which was especially designed for small-scale farmers and backed up with adequate reinsurance programme in case of catastrophe, she stated that NAIC is concluding arrangements to develop weather index insurance soon. Besides, she assured that concerted efforts would be made to achieve improved visibility and more public enlightenment campaigns, as well as strive to make record increased returns on investment

  Similarly, she said plans are underway to achieve improved corporate governance and open regional offices in frontline commercial cities of Lagos, Port-Harcourt and Kano as soon as possible. 

  In the same vein, she noted that efforts would be made to achieve speedy completion of the Corporation’s computerization project, while also adopting concerted staff training and welfare using performance measurement system. The NAIC boss also spoke on some of the achievements recorded by the new Board in the last one year, pointing out that a new Vision, Mission and Core Values as well as Strategic Business Plan have been developed for the Corporation.

  As a result of the oncerted efforts employed at sensitizing the various stakeholders on the Nigerian Agricultural Insurance Scheme (NAIS) to create the needed convivial attitude, she said NAIC is now getting more businesses as well as receiving positive responses from some State Governments on outstanding premium subsidy.

She emphasised that the staff are being trained on Change Management towards preparing them for the inevitable change which the Corporation is currently undergoing and that the computerization project of the Corporation has been revitalized and reinvigorated to further drive its business processes.

  Again, she said the rebranding of the Corporation is ongoing while the Corporation is being projected to new level of visibility through inter-agency and interpersonal interactions.