Insurance

NCRIB to edge out charlatans with professional practicing seal – Edu

From right: Commissioner for Insurance Sunday Thomas and President Nigerian Council of Registered Insurance Brokers Rotimi Edu at the event.

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Chuks Udo Okonta

The Nigerian Council of Registered Insurance Brokers (NCRIB) said it has put in place strategies to edge out charlatans from its midst, of which one of the steps, is the introduction of professional practicing seal.

The President of NCRIB, Rotimi Edu, said this at the council’s 60th anniversary Colloquium and Book launch in Lagos, adding that the body aspires to make its Council a league of reputable insurance brokers that would offer valued services to clients in the country.

He noted that with the professional practicing seal now introduced, all members of the Council would be able to distinguish their practice and by so doing earn the required respect and dignity.

Edu submitted that the Council, which started as a mere collaboration of few insurance operators, post Nigeria Independence in 1962, to take advantage of the country’s burgeourning trade and economy, has grown to one of the foremost professional institutions in Nigeria today.

He submitted that great plaudits should go to all the founding fathers, elders and entire membership of the Council for their diligent commitment to the growth of the Council.

He said insurance plays a significant role in any economy as it promotes peace of mind, facilitates trade and commerce and enables entrepreneurship, adding that regretfully, as against the trend in advanced economies, the insurance industry in Nigeria has not been able to play its required catalytic roles due to multifarious reasons.

The NCRIB boss maintained that it remains unacceptable that the industry contributes less than one per cent of the nations Gross Domestic Product (GDP), stressing that this development has been unnerving and as such all stakeholders in the industry, including the Council has been making strident efforts to reverse the trend which requires more adherence to professionalism, ethics and acceleration of public awareness initiatives about the industry.

“It has always been our take that Insurance Brokers who constitute the professional arm of the insurance industry have a great role to play in causing the desired change in the industry.

“Aside from constituting a preponderant chunk of the industry’s manpower, professionally, insurance brokers, are the closest to the insuring public whose actitivities could not be undermined in the value chain. This position of the Broker confers on him the responsibility to always get the best for his client and be continually creative in terms of products development,” he posited.

Edu noted that on the part of the council, it is most heartwarming that his team has continued to braze up to the challenges being faced by members for the collective good of the industry.

He remarked that aside seeing to it that its membership remain cohesive, informed and dynamic, “we have put in place strategies to edge out charlatans from our midst. Our aspiration is to make our Council a “League of Reputable Insurance Brokers” that would offer valued services to insurance clients in the country,” he said.

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