NAICOM boss charges operators on repositioning insurance industry

Mohammed Kari
NAICOM Boss

Commissioner for Insurance/Chief Executive of the National Insurance Commission, Mr. Mohammed Kari has said that current developments in the country obviously call for collaborative effort to reposition the profession and the insurance industry.

NAICOM boss, Mohammed Kari

Kari, who spoke at the investiture ceremony of Lady Isioma Chukwuma as the 47th President of the Chartered Insurance Institute of Nigeria, CIIN, said that operators should not be unmindful of the perception of the insurance profession by the public.

“The apathy towards insurance and the way and manner the profession is being addressed need a rethink from all of us. We all know the whys, let us discuss dispassionately and agree the hows of correcting the wrong perceptions,” Kari stated.

Kari said, “There is need for a reawakening to ensure only trained personnel are allowed to practice. 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. To achieve that we must train all persons that carry our flags to our consumers.

“As the Professional arm of the industry, indiscipline and unethical practices by your members should be of grave concern to the institute. 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.

“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.”

Kari said that the Commission will continue to support the Institute especially in the areas of new program designs, development of new curriculum for adequate capacity building, and in the training and retraining of insurance practitioners.

“NAICOM as a regulator is committed to high standard of professionalism and ethical behaviour in the insurance industry so as to regain the confidence of policyholders and increase insurance contribution to the GDP. If we must win the public apathy to the business of insurance we must desist from unwholesome practices in the discharge of our responsibilities to the insured by playing as true professionals,” Kari said.

Source: Vanguard