SPEECH DELIVERED BY THE PRESIDENT OF THE NIGERIAN COUNCIL OF REGISTERED INSURANCE BROKERS, MR KAYODE OKUNOREN, AT THE DECEMBER 2016 EDITION OF THE NCRIB MEMBERS’ EVENING HOSTED BY MUTUAL BENEFITS ASSURANCE PLC ON TUESDAY, DECEMBER 13, 2016 AT THE INSURANCE BROKERS HOUSE, 58 MOLEYE STREET, ALAGOMEJI, YABA, LAGOS
• The Top Management Team of Mutual Benefits Assurance Plc here present
• Members of the Governing Board
• Distinguished colleagues
• Ladies and Gentlemen
I am most delighted to welcome you all to the December 2016 Members’ Evening of the Council being hosted by Mutual Benefits Assurance Plc. Please permit me to welcome and appreciate the company for yielding to our request to host this Evening which is meant to further extend the frontiers of relationship between members of the NCRIB and Mutual Benefits. It is noteworthy that the NCRIB Members’ Evening has continue to be an appeal to several host underwriters itching to take a significant share of the insurance market by currying the cooperation and support of Insurance Brokers who constitute a critical segment in the intermediatory insurance services. Hence, the hosting of this event by Mutual Benefits would crystallize more into better penetration and profitability for the company.
As this year is gradually coming to a close, I have the obligation to, on behalf of the Council, give glory to the Almighty God for his mercies in keeping the Council assail, in spite of the various challenges that had confronted it. On reflections, one could recount the initial challenges of ensuring good representation of the Council on the Committee that worked for the Insurance Act. Even though it was challenging, we tried our best to ensure that Brokers are not shortchanged in the proposed law when eventually enacted. Similarly, the Council was also challenged on several fronts with some regulatory legislations that threatened the membership strength of the Council. Happily, the Council was able to work through such ingenious platforms as the Help Desk to reduce or stave off those challenges. My hope is that we shall continue to get the cooperation and support of members to survive as a professional body. I must also not forget to mention the crippling challenges of the economic recession which adversely affected the business of members during the year. It is a known fact that insurance generally tend to suffer in this clime during economic down turn. Many individuals and even corporate institutions still ignorantly hold the views that insurance should be consigned to the rung of necessities list, which is ill informed. Rather, insurance should be a major consideration at this time, given the difficulty or reduction of replacement capability in the event of a loss. I think we should all as professionals know this fact and take it as a marketing campaign to reaffirm the believe of clients in insurance at this time. Also, the times we are in calls for creativity and high ethical adherence by professionals to stay afloat. We must continually seek for ways to add value to our clients and covenant their services.
I am most delighted that the Council is not taking the protection of its members with levity and this is the reason behind the conception of the corporate visibility project which was unanimously endorsed at the 2016 Annual General Meeting of the Council in Abuja. The project is to present the Broking profession in its proper light to the insured and the general public. The task of highlighting who we are and the value we render could not be done for us by any other body or persons. We must tooth our horn by ourselves! You may recall that a letter had formally been sent to all members on the project for support, following the advice by the Annual General Meeting. It is my hope that you will all be prepared to contribute to this noble course. I assure that all support would duly acknowledged.
I cannot end my speech without once again appreciating the sponsorship and support of Mutual Benefits. I want to assure that the company’s fortune would significantly increase with this initiative, because you have by this gesture demonstrated your Brokers-Friendliness, which we shall individually and corporately reciprocate. Distinguished Colleagues, I, therefore, have no reservation in recommending Mutual Benefits to you all for patronage.
Let me formally use this platform to wish you all a prosperous Christmas and glorious New Year 2017 in advance. May your family and businesses witness a positive turn around in the New Year.
Thank you for listening and do have a splendid Members’ Evening.
KAYODE OKUNOREN, FCII, FCIB
PRESIDENT/CHAIRMAN, GOVERNING BOARD