The Chartered Insurance Institute of Nigeria (CIIN) has revealed plans to partner the Federal Ministry of Education in the teaching of insurance as subject in schools.
The institute has also implored insurance professionals to volunteer as teachers and lecturers, so as to make up for the dearth of insurance teachers and lecturers in the nation’s academic institutions.
President of the CIIN, Lady Isioma Chukwuma, who stated this recently at a press parley in Lagos, added that the institute has aided in the study and teaching of insurance by providing support to institutions across the country through donation of course books, equipping libraries with study materials and equipment.
She noted that the institute’s train-the-trainer programme was designed to upscale insurance education and to ensure that insurance teachers possess the required skills for imparting the necessary knowledge to the future generation of insurance practitioners.
She said the programme was first carried out in Lagos and Ogun states and has since been replicated in other parts of the country, stressing that the institute is presently engaging some states that it had visited to fashion out modalities to host the programme in such states.
Chukwuma noted that the train-the-trainer programme has been well received and many states are enthusiastic about partnering the institute and the college in this regard.
Speaking on the drop in insurance sales, the Deputy President, CIIN, Mrs. Funmi Babington-Ashaye, said, “it’s only when you have a lot of money to spend that you remember insurance; even corporate organisations have a lot of issues regarding their bottom line.
“Prices have gone up and you see some of them that are even insuring in the past, comprehensively, have started insuring third party. Even individuals are not renewing at all. You can imagine the negative impact on the bottom line of insurance firms.
“Also talking about aviation and oil and gas, we are aware of how it’s been difficult, until couple of days ago, getting forex for payment of insurance premium to overseas reinsurers.”