Insurance sector is selfishly segmented ? CIIN DG

By ROSEMARY ONUOHA

The Director General of the Chartered Insurance Institute of Nigeria, CIIN, Mr. Adegboyega Adepegba has decried the segmentation of the insurance profession by some practitioners for selfish interests.

According to Adepegba, all players in the insurance sector must first see themselves as insurance professionals before classifying themselves as underwriters, reinsurers, brokers and loss adjusters.

The DG said that it would be a new beginning for the Institute if all insurance professionals in mainstream insurance practice and those engaged as risk managers in government parastatals such as NNPC, NLNG as well as oil companies, manufacturing companies and banks operate as a team.

Accordingly, Adepegba urged all the professionals to attend the 2012 Professionals? forum of the Institute which will hold in Ibadan from 12th September. ?We want to see a new beginning for us if all the professionals are able to storm the forum,? the DG said.

The annual professionals? forum, according to a statement from the Institute, is engendering the body?s contribution to the upliftment of service delivery, skills sharpening and the acquisition of fresh insights by the professionals in global best practices and international standards.

The Institute, by virtue of its statutory powers vide Decree 22(now Act) of 1993, is charged with the responsibility of determining the standard of skill and knowledge required by insurance professionals for the effective and efficient discharge of their services as risk managers.

The 2012 forum will focus on the theme ?Beyond Professionalism: Making a Difference.? President of CIIN, Dr Wole Adetimehin,? said the forum theme is a clarion call on professionals in insurance and the larger financial services sector, requiring them to brace up for emerging challenges facing the global economy.

Adetimehin said that professionals should be better equipped in order to exhibit competences which are over and above mere professional qualifications. ?The need has arisen for professionals to be further equipped both as risk managers and change agents through effective control of their business and positive transformation of the organisations under their trust?, he stated.

Meanwhile, Adepegba said that it is becoming increasingly necessary for all insurance professionals to attend the forum, stating that it is the only way they can key into the Institute?s Professional development agenda. The CIIN DG regretted that attendance at the annual fora has been below expectation, especially in an era when other professions are maximizing such opportunities without compulsion.

? I make bold to say that apathy to professional education cannot correct the palpable skills imbalance in an industry that is in dire need of greater expertise in the effective underwriting of many special risks including the emerging risks occasioned by security threats across the nation?, Adepegba stated.

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Source: http://www.vanguardngr.com/2012/08/insurance-sector-is-selfishly-segmented-ciin-dg/

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