Insurance

Oyegunle advocates bridging existing gap between stakeholders in insurance sector

President of Chartered Insurance Institute of Nigeria Sir. Muftau Oyegunle

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Chuks Udo Okonta

The President, Chartered Insurance Institute of Nigeria (CIIN) Sir. Muftau Oyegunle, has said beyond technology and knowledge, insurance practitioners need to bridge the existing gap between various stakeholders in the industry if they must take the sector to the next level.

He said this at a recently held event for directors, organised by the College of Insurance and Financial Management (CIFM) and National Insurance Commission (NAICOM) in Lagos, adding that most of the challenges confronting the industry players today require serious cooperation within the industry and collaboration with other relevant stakeholders to move this sector forward. This, he submitted is the main aspect of the changing world that operators are not paying adequate attention to.

“I therefore challenge all the captains of the industry here present, to view this as the end of year challenge for all of us. The question begging for an answer is ‘How do we move this industry forward collectively in 2022 and beyond?,” he posited.

Oyegunle noted that the penetration jinx needs to be broken so that the insurance industry can provide its crucial role in supporting individuals and businesses through mechanisms that facilitate resilience building for the economy at large while also making insurance profitable enough to justify the investment of shareholders.

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