Insurance

NAICOM gets approval for 2021 -2023 corporate strategic plan

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Chuks Udo Okonta

The Governing Board of National Insurance Commission (NAICOM) had on Friday, April 09, 2021 approved the commission’s 2021 – 2023 corporate strategic plan, Inspenonline reports.

The approval became necessary as NAICOM’s corporate strategic plan 2016 – 2020 ended last year.

The spokesperson of NAICOM, Rasaaq Salami, said the Commission is now implementing the new approved plan.

NAICOM said it established the Strategic Plan with the objective of translating its Vision, Mission and Values into actionable and measurable goals, objectives, initiatives and activities.

The Strategic Plan, it said will provide direction for both long- and short-term decision-making by the Board for implementation by Senior Management in order to fulfil the mission of the organization.

Similarly, it will enable them to make strategic efforts in ensuring adequate protection of the policyholders, beneficiaries and third parties to insurance contracts and also deepen insurance market penetration, it noted.

NAICOM noted that its Board will ensure periodic review and performance monitoring of the Strategic Plan within its life span.

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