NAICOM wants insurance stakeholders to improve operational strategies

The Commissioner of Insurance and CEO National Insurance Commission (NAICOM), Sunday Thomas, has charged insurance practitioners to explore better operational structure in order to boost productivity in the sector.

Thomas made this called at the investiture of the 50th President of the Chartered Insurance Institute of Nigeria (CIIN) Sir, Muftau Oyegunle, virtually in Lagos.

While welcoming the new President and Chairman of the institute, he said the pandemic has presented a new challenge to the insurance sector, which will necessitate an immediate shift from the usual way of practice and operation.

“Suffice it to say that critical times require critical measures. The challenges before the institute during and post COVID-19 are enormous; how you do your marketing for new members, how you run your education seminars, where and how you conduct your examinations for prospective members will all be affected by the prevailing circumstance.

“I therefore urge the new leadership to take these challenges into serious consideration in developing new curriculum for the institute. More than ever before the institute must embrace technology as one of its key drivers for development.

“The institute should be prepared to digitalise its processes, procedures and systems in order to make its operations seamless and real-time. As a professional institute, your communication and engagement with your stakeholders cannot be encumbered by disruption to physical interactions,” he added.