Hope is on the rise within the insurance industry with the emergence of dedicated and proactive professionals such as Mrs. Mary Adeyanju, Managing Director of Consolidated Hallmark Insurance Limited. As a beacon of inspiration, Mrs. Adeyanju is vying for a position on the Council of the Chartered Insurance Institute of Nigeria. In a recent interview with Chuks Udo Okonta, she passionately discussed her aspirations and commitment to contributing to the esteemed institute.
Appreciation
I want to extend my heartfelt gratitude to the Chartered Insurance Institute of Nigeria (CIIN) for granting me the opportunity to run for election into the council. I am also deeply thankful to all my colleagues for their trust and support in allowing me to distribute my campaign materials and consider me for a position on the council. Additionally, I appreciate CIIN for their continued outstanding contributions to our industry.
Mandate
I am not here to alter the established legacies, but rather to collaborate with the institute and enhance its current initiatives. It’s undeniable that CIIN has achieved significant success and made remarkable strides in all facets of insurance education in Nigeria. However, I believe there’s ample room for further advancement. This is why some of us advocate for the opportunity to contribute and push the boundaries of what CIIN can achieve.
Agenda
For me, my platform revolves around a theme I’ve coined as “Innovation.” In today’s world, innovation and technology are essential for the success of any enterprise or organization. Without embracing innovation, one risks stagnation or decline. I firmly believe that CIIN is prepared and eager to embrace innovation. That’s why I’ve developed a 5-point agenda centered on innovation—to leverage technology and propel our institute to greater achievements.
Inclusiveness through technology
As a chartered member and a fellow of the institute, I believe that more people should be given the opportunity to take the institute’s examinations through the use of technology. Individuals in locations such as Maiduguri and Sokoto often lack access to revision centers to adequately prepare for these exams. However, technology can bridge this gap by delivering revision materials to people in Sokoto and rural areas in the east and west. This approach would bring insurance education to everyone’s doorstep, regardless of their location. Therefore, I advocate for the establishment of virtual learning systems across the six geopolitical zones, enabling people to prepare for exams. This will allow more individuals to qualify and become associates by providing them with equal learning and training opportunities, similar to those in cities like Lagos, Abuja, and Port Harcourt.
Innovative Examination Structures
I am also suggesting that we can enhance the integrity of the professional exams we currently write, which are the same in four other African countries and in which we are performing well but could improve further. By converting these exams to a Computer-Based Test (CBT) format, we can achieve this. The Chartered Insurance Institute of Nigeria (CIIN) does not need to build a CBT center, purchase computers, or incur significant expenses. Instead, we can collaborate with existing centers to conduct our exams, thereby increasing their integrity. This change would also elevate our standing with the Chartered Insurance Institute (CII) in London. Currently, those with CIIN qualifications who move to the UK must pass approximately five additional papers to obtain the UK certification. Conversely, individuals from the UK can receive our certificate without taking extra exams. By creating a system that upholds greater integrity in our examinations, we can ensure that our qualifications are recognized on par with those from the CII London, making it easier for our members to relocate and have their credentials acknowledged.
Top Notch Digital Library
I am also proposing the establishment of a digital library. In our technologically advanced world, people should be able to study and access CIIN materials online to prepare for exams. While I am aware that the institute currently has an e-library, I believe we can significantly enhance our e-learning offerings. By upscaling our digital resources, we can ensure that everyone has access to a broader range of materials, not just for exam preparation, but for other purposes as well. This improvement would provide comprehensive study support and align with the global shift towards innovation and technology.
Smart College
I am also considering the College of Insurance and Financial Management (CIFM), which is an essential part of the institute. When we look at similar colleges in other African countries, such as Kenya, it becomes clear that we need to enhance our own college. I propose that we examine the values provided by CIFM, particularly focusing on the course content. We should review and update our curriculum to reflect the current realities of the business world. Today, topics like remote working experiences and soft skills that enhance workplace performance are highly relevant. Incorporating such courses into our curriculum would be beneficial. Additionally, understanding how employers measure the performance of remote staff to ensure optimal productivity is crucial. By integrating these elements into our learning programs, we can better serve both the insurance companies that send their employees for training and the institutions themselves. Ultimately, this will create a balanced and modern learning environment, keeping us connected to the global trends in the industry.
Contributions
These are some of the initiatives I am proposing to support the growth of the industry. I do not claim to have all the answers, but I am seeking an opportunity to collaborate with the institute to improve our existing systems. I also want to take this opportunity to ask my colleagues to vote for me and the right candidates. I am committed to bringing value to the institute, working tirelessly, collaborating with everyone, and mentoring young professionals. My goal is to ensure that we attract the right people with the right skills to our institute and build a robust ecosystem for the insurance industry in Nigeria.
Landmarks in Consolidated Hallmark Insurance
I have been an Executive Director here for over seven years before becoming the Managing Director. We have been pursuing several innovation-driven agendas, particularly focusing on operational efficiency. We are working tirelessly to enhance our operational efficiency to the extent that our clients can receive the service they need without requiring human interaction or personal connections. Our goal is to ensure that the quality and timeliness of our services turn our customers into advocates for our institution. A key aspect of this service is the prompt payment of claims.
Esteemed Brand Equity
Another area we are focusing on is brand equity. Despite operating for about 20 years, we have maintained a low profile and conducted our activities quietly. We now believe it’s time to change that strategy. We have started increasing our visibility with billboards in Abuja and are working on similar initiatives in Port Harcourt. In Lagos, we are already present on billboards and radio, and we plan to continue enhancing our brand visibility.
Wellbeing
We highly value our people and are taking a critical look at their needs. We are developing a human capacity template designed to support our team in delivering their best performance within a healthy and balanced environment. This initiative aims to ensure industrial harmony and promote overall well-being among our staff.
Techinsurance
We are also prioritizing our technology infrastructure because in today’s business landscape, any company without robust technology is at risk. Recently, someone mentioned to me that every modern business is essentially a technology business engaged in a specific industry. As an insurance provider, we are embracing this perspective wholeheartedly. We are enhancing our in-house technological architecture so that by the end of this year, our presence will be significantly felt. We are revitalizing our software and applications to enable us to compete more effectively in the marketplace. We believe these efforts will positively impact our revenue because when we execute the right strategies, revenue and ultimately profitability will follow suit.
Growth Pattern
As an institution, we have set a standard that any growth target we aim for must exceed the inflation rate by at least five percent. For instance, if inflation in Nigeria is currently at 45 percent, our growth target should be set at a minimum of 50 percent above last year’s budget. This ensures that our efforts surpass inflationary pressures and maintain real growth in our operations.
Need-based Products
In addition to our standard products, we offer specialized products like CHI Prime and Auto Max, which are tailored to meet specific client needs. We encourage people to take advantage of these offerings. Our travel insurance is another unique product that can be purchased online without requiring human interaction, and we are actively integrating it with our travel partners to enhance convenience. Additionally, we provide products such as mobile phone screen shield and domestic workers insurance, which cater to specific needs. These bespoke products are designed to offer tailored solutions that meet the diverse requirements of our clients.
Flexibility
We pride ourselves on being a highly flexible organization that listens attentively to our clients’ needs. Our commitment is to develop products that best suit their requirements. We operate with a customer-friendly approach and prioritize being customer-centric in every aspect of our operations.
Brokers Partnership
I want to express my sincere appreciation to our broking partners, as they are integral to our business. Without them, we would not be able to operate effectively in the insurance value chain. Their steadfast support has been crucial to the success of Consolidated Hallmark Insurance, and we are grateful for their ongoing commitment. This is an opportunity to acknowledge the broking community for their contributions thus far and for their continued support in the future. Our partnership has been exceptional, and we eagerly anticipate further collaboration and business growth through our brokers.
