How to tackle public perception on insurance business – Thomas

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Chuks Udo Okonta

Rebranding and reshaping the ethical behaviour of insurance practitioners to ensure they remain true representative of the core values the insurance profession stands for, will help bolster public perception on underwriting business, the Commissioner for Insurance, Sunday Thomas, has said.

Thomas, who said this recently at an event organised by the Chartered Insurance Institute of Nigeria (CIIN), posited that public perception of insurance business still remains very low largely due to the unacceptable professional conduct of very few insurance practitioners.

He noted that the CIIN has a pivotal role to play in rebranding and reshaping the ethical behaviour of members in order to ensure that every member is a true representative of the core values the insurance profession stands for.

Thomas noted that the National Insurance Commission (NAICOM) on its part is committed to development of insurance across all strata and would continue to do more to ensure inclusive development of insurance.

“It is no longer news that the Commission is committing huge resources to actuarial development in the country in collaboration with the institute through the College of Insurance and Financial Management though the entire process has been affected by advent of the COVID-19.

“Let me assure the CIIN President and his team that the Commission will continue to collaborate and support the Institute where possible, for the attainment of quality education, training and improved ethical behaviour of practitioners,” he said.

Thomas opined that to achieve the objectives of the founding fathers of the Institute, greater commitment and collaboration is required of all stakeholders, stressing that the institute has come thus far due to the sacrifices and selflessness of all its past leaders and members of the Council. “We can only improve on this and take it to the next level. The future of the profession is very bright and the potentials are enormous, we only need to fill the gaps,” he maintained.

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