Cynthia Ezekwe
As an avenue to boost public trust and understanding, the National Insurance Commission (NAICOM), has called on insurance practitioners to revamp the insurance industry to simplify its complexities, and enhance its relevance, so that their narratives can be better understood by the public.
NAICOM’s revamp push aims to make insurance more relatable, understandable, and beneficial to the public amid evolving consumer needs.
Olusegun Omosehin, the commissioner for insurance/Chief Executive Officer of NAICOM Olusegun Omosehin, stated this recently in Lagos at the investiture of Yetunde Ilori, the president of Chartered Insurance Institute of Nigeria (CIIN), noting that emerging realities and developments at the global and national levels calls for collaborative effort to reposition the insurance profession and rebrand the industry such that its narratives can be better understood by all.
The commissioner for insurance noted that the insurance sector requires exceptional leadership to navigate the complex landscape of economic challenges and vast opportunities, adding that the industry must embrace transformation and innovation to stay ahead of the curve and effectively address the evolving needs of society.
“Ilori’s leadership will play a pivotal role in driving this transformation, ensuring that the Institute remains a beacon of excellence and a catalyst for positive change.As we celebrate this momentous occasion, it is important to reaffirm our collective commitment to promoting a robust, resilient, strong and stable insurance industry that contributes to the economic stability and growth of Nigeria,” he added.
Omosehin explained that NAICOM is dedicated to supporting President Bola Ahmed Tinubu’s Renewed Hope Agenda, particularly the ambitious goal of growing Nigeria’s economy to $1 trillion by 2030. To achieve this, NAICOM recognizes the Chartered Insurance Institute of Nigeria (CIIN) as a vital partner in developing skilled professionals for the insurance sector. He reiterated the commission’s commitment to supporting the CIIN in its mission and looks forward to exploring new ways to strengthen their partnership. This includes enhancing transparency, improving public perception, and building confidence in the insurance industry.
