The new Commissioner for Insurance, Alhaji Mohammed Kari has urged insurance industry practitioners to embrace professionalism and core values in order to correct wrong perception on insurance by Nigerians.
Kari, who made the call in his key note address at the investiture ceremony of Mrs. Isioma Chukwuma as the 47th president of the Chartered Insurance Institute of Nigeria (CIIN) in Lagos, said it has become necessary that only trained personnel are allowed to practice
insurance in Nigeria.
“You will agree with me that insurance services are being rendered by persons and bodies without adequate training, we must embrace professionalism as core value in our industry”, he mentored.
According to him, to achieve this, the industry must train all persons that carry its flag to consumers. He charged the institute’s management and governing council to take the issue of professional indiscipline and unethical practices by members very seriously, adding that practitioners should be seen upholding the tenets of the profession.
“Insurance practitioners and professionals should be seen to uphold the tenets of the profession both in their words and actions. It is not enough for the Institute to breed and certify insurance professionals only, but must also ensure that they are regularly updated through training and retraining to enable them measure up with current global trends,” he stated.
Kari advised the institute to see training as paramount importance for the development of practitioners.
He disclosed that the commission has discussed with the rector of the Centre for Insurance and Financial Management Studies (CIFMS) towards developing acceptable curriculum for training of different level of practitioners and an annual mandatory refreshers training thereafter.
According to him, NAICOM will want to see the institute become a one stop shop for the teaching of good ethics and building good characters as it relates to the practice of insurance.
“If we truly practice as professionals that we say we are, we should be mindful of our actions and how we carry ourselves. We should be seen as men and women of proven integrity, we should avoid unethical practices because it will not only send bad signals to the public,it will further erode the little respect left,” he stated.
In her acceptance speech, Chukwuma said the theme of her presidency is “consolidating the gains of the insurance industry for national economic growth”.
According to her, the theme was borne out of the conviction that the industry can achieve greater success for the institute and the insurance industry as a whole, if operators consolidate on the gains the institute has made in the last few years whilst leveraging on such gains for National Economic Growth.
“As we are also aware, the global economy is transiting from the Millennium Development Goals (MDGs) to Sustainable Development Goals (SDGs). We are therefore on the right path and should sustain the trend,” she stated.
Chukwuma said her tenure in the institute will see to the promotion of ideas of the insurance industry Consultative Council(IICC) through the establishment of the IICC and its landmark success in enthroning insurance industry unity.
She said her tenure will also reinforce the gains of the IICC, especially the sustenance of the industry Mega Conference of which the just concluded maiden edition will remain a reference-point.
The new CIIN president also said her tenure in the institute would reinforce the huge potential of the Centre for Insurance and Financial Management Studies