The newly elected President of the Chartered Insurance Institute of Nigeria (CIIN), Edwin Igbiti, has instructed insurance practitioners to continue to be at the frontiers of technological innovations and trends, in order to thrive and make an impact.
Igbiti, who said this during his inauguration as the 51st President/Chairman of CIIN at Victoria Island, Lagos on Friday, added that this innovation will give the industry coverage in the field of penetration, acceptance and impacts of insurance on the general economy.
Stating that the theme and focus of his tenure will be “Building a Lasting Legacy”, he maintained that the choice of theme was born out of the need for continuity to support and build on the work of past presidents of the institute. This, he added, would ensure that despite the current global uncertainties, the institute will continue to meet the needs and aspirations of its members.
He noted that in this context, his presidency will unleash the potential of this approach by focusing on a three-point program, namely: “Digital strengthening of the operations of the Institute; Raising awareness of insurance for all – grassroots, youth and public development and infrastructure insurance.’
Giving a further breakdown, he said, the digital strengthening of the institute would entail the completion of the e-library project, the start of e-exams, active presence and use of all social media platforms. available.
Awareness raising about insurance for all, he stressed, would cover the grassroots, youth and insuring public; positive scaling of the secondary school quiz into the national spotlight; distribution of insurance manuals to secondary schools and effective coordination of the train-the-trainer program for teachers of secondary schools of insurance, deepening and consolidating youth empowerment and mentorship initiatives.
On infrastructure development, he promised to undertake; renovation of the Lagos Street building to acceptable standards; Obtain the necessary approvals and clearances from the Lagos State Government to resume construction of the Victoria Island project and significantly increase the construction fund as agreed with the construction committee.
He noted that indeed efforts have been made by his predecessors to revamp the institute’s digital operations, adding that there is however a need to continuously upgrade and innovate processes to deliver a great experience. customer and member satisfaction.
For him, “my projection is that my tenure as CIIN President will facilitate the transformation of the CIIN Secretariat with state-of-the-art facilities that would boost digital operations and processes, enhance an excellent working culture that would result in a customer base of quality experiences in all our deliverables Smart technologies and digital solutions would be deployed to achieve this with a viable business model.
Speaking earlier, the President of the occasion, Oladele Fajemirokun, said he was happy to have someone in the mold of Edwin Igbiti taking over the leadership of CIIN at this crucial time.
With the pivotal position that the institute occupies in the financial ecosystem and the economy of this country., he said, there is no doubt that over the years, the CIIN has distinguished itself as the a leading professional body that has provided cutting-edge education to insurance professionals, who in turn add significant value, not only to the insurance industry, but to the broader financial ecosystem.
Despite all the rigorous efforts made by operators as well as professionals, insurance, unfortunately, he said, is still in the background of the national economy and contributes only up to one percent to the gross domestic product (GDP) of the nation.
“There is no need to rehash some of the issues that have led to the industry’s downturn bordering on poor image, low public acceptance and inadequate professional training impacting the quality of insurance professionals who interact with members of the public. Either way, the industry has continued to make huge strides to ensure that this narrative is changed and permanently too.
“It is quite relevant for me to say that the industry has made leaps and bounds in the area of IT adoption which, as we all know, ultimately drives the economy. world and there is no player in the global economy, including insurance, that should lag behind in information technology,” he stressed.