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Chuks Udo Okonta
The Chartered Insurance Institute of Nigeria (CIIN) has tasked its fellows to form faculties in their area of specialisation to enable them contribute more to the growth of the insurance industry.
The Chairman, Examination Committee, CIIN and former Managing Director, LASACO Assurance Plc, Ven. Olusola Ladipo-Ajayi, said this, whilst speaking on the theme: ‘Contributions of Fellows to the growth of the Institute’ at the CIIN 2022 Fellows’ Hangout in Lagos, stressing that a lot is required from the institute’s fellow in moving the insurance industry forward.
He noted that the fellows should hold meetings regularly and made recommendations to the institute.
He implored the fellows to join hands with the institute in auditing course books; help in supervising the institute’s examinations and assist in determining skills and knowledge for the institute.
Chairman, Society of Fellows, Prof. Joseph Irukwu, who was represented by the past President of the institute, Sunny Adeda, noted that a lot is required from the fellows to enable the institute get to lofty heights.
He decried the number of fellows in the institute, stating that the institute has 121 fellows compared to India with 3,767 insurance fellows.
He implored insurance practitioners and the public to embrace the institute’s examinations, stressing that the insurance industry presently has less 4,000 professionals.
The President, CIIN, Sir. (Dr.) Muftau Oyegunle, charged the institute to determine a high standard of knowledge and skills for persons seeking to become registered members of the insurance professional body, adding that he has a strong belief that this will help grow the Insurance industry.
“You will agree with me that every fellow had numerous levels of experiences and understandings into the different industry problems and challenges, trends as well as viable solutions to crucial matters in the sector. This is why it is expedient that there is always an opportunity for us to converge like this to deliberate on issues affecting the Institute so as to drive the Institute forward,” he said.
He submitted that the theme of the programme is very topical and needed to gauge the efforts to the development of the institute.
“Esteemed Fellows, I indulge you all today, as the programme proceeds to be free, willing and passionate to share, discuss and contribute to the theme of this event as we have put in place structures to ensure that the outcome of this hangout is transferred into implementable solutions for every insurance organisation, the Institute and the insurance industry in general,” he said.
He noted that indeed, every industry today has suffered from variety of challenges especially as regards professionalism and ethical standards and this has affected in so many ways the efficiency of process, reducing the standards of competency in the long run.
“My Professional Colleagues, I will like to remind us that as Fellows of the CIIN, we stand as custodians of professionalism and ethical standards, so I urge you, as we strive together to push the boundaries of excellency in our various organisations; to use this avenue to come up with actionable plans, processes and procedures to encourage professionalism and ethics so as to raise high the bar of capabilities in our various sphere of influence. One decision at a time, one improved process at a time and in the next few years, we will celebrate an industry with an outstanding level of professional competence,” he said.