Insurance

NAICOM eyes erudite scholars in industry for academy

Thomas

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Chuks Udo Okonta

The National Insurance Commission (NAICOM) said it will soon be requesting for assistance of erudite scholars in the industry to fill the identified Knowledge gaps in the regulatory system, for which an Academy has been established.

The Commissioner for Insurance, Sunday Thomas, said this yesterday at the commissioning of the College of Insurance and Financial Management (CIFM) multipurpose auditorium, named NAICOM Hall, in Asese, Ogun State.

Thomas noted that Academy would soon commenced operations as everything required for the takeoff has been put in place.

He posited that the Commission is also internalizing the human capital development initiative through the effective plan of action for the takeoff of its academy. “We will soon be requesting for assistance of erudite scholars in the industry to fill the identified Knowledge gaps in the regulatory system,” he said.

He noted that the Commission has always and will at all-times extend her full support to not only the College and the CIIN but all deserving stakeholders in the industry in their drive for insurance business growth and development, adding that the Commission is open to new ideas and shall continue to introduce new reforms and initiatives in line with international best practices that will strengthen our institutions.

“It is imperative to note that under the current dispensation in the Commission, Human Capital Development anchored on relevant upscale of skills, digitalization and product innovations, effective/efficient service delivery remain our strategic focus. On this premise, several initiatives have been designed by the Commission to facilitate attainment of the strategic focus which will redefine the future of the Nigerian insurance market.

“To this end, the Commission has already commenced the Actuarial Capacity Development Programme in collaboration with the CIFM. The programme is expected to develop 100 Certified Actuarial Analysts and possibly a minimum of five (5) Actuaries in Nigeria by the year 2024. This is an important component of the Commission’s strategic focus on capacity development,” he submitted

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