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Chuks Udo Okonta
The Incoming President of Chartered Insurance Institute of Nigeria (CIIN) Mrs. Yetunde Ilori, has unveiled a four-point agenda christened ‘EPIC’, which stands for Education; Professionalism; Institutional recognition and Capacity building.
She unveiled the agenda today at a press conference in Lagos, adding that she hopes to restructure the CIIN into a Business School Model for insurance.
Mrs. Ilori, who is coming in as the 52nd President of the institute noted that she has deep-seated desire that gave birth to the theme of her tenure, stressing that she believed with all the stakeholders working together the desire can become a reality.
“We will focus on enhancing our educational programs,
fostering innovation, and promoting ethical practices in the Nigerian insurance
industry.
“We will also strengthen our collaborations with regulators, other professional bodies and relevant stakeholders. Steps will also be taken at sustaining success recorded by the previous presidents as well as completing previously initiated projects,” she posited.
According to her, the theme is expected to be actualized under the agenda summarized in a four-letter acronym EPIC, which translates to awesome, spectacular, an exceptionally long and arduous task (usually difficult). ‘It can be said to be ambitious and artistic goal but I am encouraged by this saying “So many of our dreams at first seem impossible, then
they seem improbable, and then, when we summon the will, they soon become
inevitable”.
“EPIC was chosen after taking a critical look at our industry, assessing where we are and where we should be. This acronym encapsulates our commitment to Education, Professionalism, Institutional Recognition, and Capacity Building within and outside the insurance industry.
“Evolving education through technology (e-education).
The world is undergoing a digital revolution, and the insurance industry is no
exception. There is a critical need to bridge the knowledge gap about insurance.
“We must move beyond simple awareness campaigns and empower the public with real education. Technology is our key to: Reaching new audiences: We will leverage existing channels and institutions to deliver insurance education outside the industry. Imagine insurance as a core subject in secondary schools or a focus for training programs. This will significantly enhance insurance literacy across the nation.
“Transforming Learning within the Industry:For our members, we will embrace e-learning. Partnerships with established platforms will provide
convenient and engaging learning experiences. Imagine preparing for exams with a whole new approach, one that is effective and enjoyable.
“Building Expertise through Partnerships: Executive training opportunities
will be a cornerstone of our initiative. By partnering with reputable institutions,
both local and international, we will offer certification programs that elevate
professional skills, she submitted.
Continuing she said a Business School Model for Insurance, would be created to ensure a tiered training
program modelled after business schools, stating that from entry-level to executive levels, the Institute would become the premier destination for insurance education in Nigeria.
She also pledged to promote the highest standards of professionalism, adding that the ‘P’ in EPIC stands for professionalism, the bedrock of the Institute.
“We will focus
on discipline, maintaining the highest ethical standards is paramount. We will
ensure strict adherence to our code of conduct.We embark on sensitisation,
where every professional will know the demands of the certificate he or she holds.
“Enhancing the Institute’s Image:The CIIN will be synonymous with
excellence. We will actively promote the value we bring to the industry and society at large.
“Making Insurance a top career choice:We will strive to make the CIIN qualification as prestigious as those offered by the other institutes. Our goal is to make insurance the first-choice career path for talented individuals.
“Elevating the Fellowship Program:A rigorous review of the Fellowship assessment process will ensure it continues to meet the highest global standards.
“Upgrading Program Quality:We are committed to offering exceptional
educational programs that are continuously improved to meet the evolving
needs of the industry.
“Building a recognised Institution (I). The ‘I’ in EPIC represents Institutional Recognition. We will establish a credible awards.
“Program: The annual Insurance Week will be a
highlight of our calendar showcasing the talents and achievements of
institutions and individuals within our field. By instituting credible award giving events with well-defined criteria, we will celebrate excellence and
inspire others to strive for greatness.
“Enhancing Capacity Through Targeted Initiatives (C)
The final pillar of EPIC is Capacity Building. We will focus on: Strengthening the CIIN Secretariat:We will address any capacity gaps within the Institute itself, ensuring we have the resources to deliver on our ambitious goals.
“Building Expertise in Niche Areas:Certain sectors, such as Marine and Aviation insurance, require specialised knowledge. We will develop programs to address these needs, encompassing not just underwriting but also vital areas like claims adjusting.
•Connecting the Diaspora:Nigerian Insurance professionals abroad possess
valuable knowledge. We will create avenues for them to share their expertise
with their colleagues at home.
•Investing in the future: Scholarship programs will nurture talent from
colleges and universities. We will also establish a Chartered Insurance Analyst
(CIA) product to qualify exceptional individuals.
•Providing Internship Opportunities:Exposure to the realities of the workplace is crucial. We will create internship programs to bridge the gap between academics and practical experience, she posited
Mrs. Ilori maintained that
EPIC is a bold vision, but she is confident that together, the institute can achieve remarkable things.
She noted that with support from the media and dedication, the Chartered Insurance Institute of
Nigeria would become a force for positive change in the industry.
She the CIIN would empower the public, elevate professional standards and ensure the institute is recognised as a beacon of excellence.
Mrs. Yetunde Ilori exemplifies
dedication, leadership, and integrity in the insurance industry. Her significant
contributions have profoundly shaped the landscape of insurance in Nigeria and
beyond, making her a beacon of excellence in her field.
Mrs. Ilori began her insurance career with Trans Nigeria Assurance Company Limited
in Ibadan in Year 1984,first as a place of her primary assignment during her youth
service and was subsequently employed as a permanent staff of the Company.
She quickly rose to the position of Head of the Life and Pensions Department. Yetunde later headed the Claims and Reinsurance department due to her dedication and skills.
In Year 1997, she joined Crusader Insurance Plc in Lagos State, where she served as Head of Actuarial, Research & Statistics and Life Departments respectively.
In Year 2004, Yetunde transitioned to AXA Mansard Insurance Plc (formerly Guaranty Trust Assurance Plc), where her strategic leadership as Managing Director/CEO transformed the company into a leading insurance provider in Nigeria. Under her tenure, the company’s gross premium income grew from N27 million to over N13 billion and it expanded into various new product lines.
Her exemplary leadership continued as the Director General/Chief Executive Officer of the Nigerian Insurers Association (NIA). She was the First Female DG/CEO and the First Female Chairperson of the Life Committee of the African Insurance Organisation
(AIO). During her tenure, she oversaw the completion of the NIA’s iconic six-storey
building and the implementation of the Nigerian Insurance Industry Database (NIID) Motor, Marine, Building Insurances and lately Group life assurance, and Nigerian
Insurance Platform (NIIP), enhancing the credibility of insurance products in Nigeria.
Also,the manual compilation and presentation of statistical reports Digest became
digitalized thereby making for ease reference and analysis.
Throughout her career, Mrs. Ilori, has held several prominent positions, including
Chairperson of Life Committee of the AIO, Chairperson of the Life Offices Committee of the NIA, and Chairperson of the Planning Committee of the Insurance Industry Consultative Committee.She has served the Institute as the Chairman, Finance and General Purposes Committee, Treasurer, Deputy President and Immediate Past Chairman of the Governing Board of the College of Insurance & Financial
Management.
Mrs. Ilori isa graduate of Actuarial Science from the University of Lagos, an Associate of the Chartered Insurance Institute (London), an Associate of Chartered Insurance Institute of Nigeria and a Fellow of Chartered Insurance Institute of Nigeria. She is a product of the Advanced Management Programme from Lagos Business School, in
addition to attending several training courses within and outside the Country.
