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The Chartered Insurance Institute of Nigeria (CIIN) has commended SUNU Assurance Plc for its constant support of the institute and the insurance industry as a whole.
The President, Chartered Insurance Institute of Nigeria (CIIN), Mr. Edwin Igbiti gave the commendation during a courtesy visit to SUNU Assurance Plc recently in Lagos.
Igbiti who said the institute plans visit to other insurance companies further sought more support from SUNU.
Igbiti stated that SUNU Assurance has come of age, adding that the company has continued to thrive despite the challenging operating environment.
He said: “We are here on a courtesy call on SUNU. We plan to visit most insurance companies that will welcome us. We want encourage professionals in the industry. All the employees in various companies belong to the Institute and therefore in order to encourage our professionals, we need to also encourage the companies that the future is brighter.
“Today, we have come to tell them the programs that we have at the Institute and seek for their support. One of the programs that the Activity Committee of the institute will hold soon is the Talent Night which we are seeking their support on. We are asking that they should bring up all their talents to participate at the forthcoming Talent Night which is comes up in March, this year.
“We also informed them that we want to go back to our secretariat site. It is a structure that we have abandoned for years and we want to go back to it and we are seeking for their support”.
Speaking on ethics and good practices in the industry, Igbiti said one of the major things that they have made the companies to know is that ethics is what project a profession.
“We must observe governance issues in the insurance industry because it is the sustainability that will project us and sustain us against the future.
“SUNU is of age and therefore all insurance companies and also in collaboration with our regulators, must ensure that the risk-based supervision comes into effect and by so doing check the clinical position of every company.
“This will prevent most companies against going down. If we keep on checking and in good time give them a feedback as to how they are performing, it will help the companies”, he added.
CIIN Activity Committee Chairman, Mrs. Yinka Adekoya who was part of the team on the visit said the upcoming Talent Night replaces Miss Insurance Night and will showcase young insurance professional employees of companies.
Adekoya who was the former Managing Director of Coronation Insurance Plc urged SUNU to encourage its young professionals to come out to contest so that they can pick the best talent in the industry.
President of the Professional Insurance Ladies Association (PILA), Mrs Margaret Moore added that Miss Insurance was scrap to accommodate the male to emphasis not just beauty but brain.
The Managing Director, SUNU Assurance, Mr. Samuel Ogbodu on his part assured the Institute of continuous support of industry activities.
Ogbodu who said SUNU has been growing steadily noted that the company is committed insurance growth in the country.
He stated that the company was able to achieve the impressive performance due to strategic master plan.
He said: “The Company has grown by over 100 per cent between 2017 till date. We also have a robust reinsurance facility which is very vital to any insurance company’s claims payment capability. We are always ready to pay genuine claims because we are in business to pay claims to compensate for losses or damages sustained by a policyholder.
“If a claim occurs, we take it seriously and make sure to pay following our assessment. If it is a motor claim, we send our in-house staff and if it’s a large claim, we send loss adjuster to review it so that we make payment as fast as possible. We pay claims within 48 hours after issuing discharge voucher.
“We want our client to know that we pay claims diligently. Insurance business is a business of trust. If you place your business with us, no matter the situation, we will flow with you. You can never walk alone. We have a close relationship with our individual clients and brokers. We have some of the best staff in the insurance industry in our technical team and marketing team. We also don’t joke with staff welfare. Part of our strategic priority are the staff. We see them as the frontline of the company. When the staff are happy, the company is happy and this is what it is at SUNU”, he noted.