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Chuks Udo Okonta
The Commissioner for Insurance and Chief Executive Officer of National Insurance Commission (NAICOM) Olusegun Omosehin, has named 20 important factors required to deepen and open insurance market in Nigeria.
He named the deal breakers at an event organised recently by the Chartered Insurance Institute of Nigeria (CIIN) in Abeokuta, Ogun State.
According to him the factors are:
*Developing a wide range of new skill sets
*Fresh orientation
*Attract talents
*Retaining talents
*Diversifying products spectrum
*Improvement on adaptability
*Improvement on agility
*Improvement on transparency
*improvement on openness
*Investments in technology
*Improvement on trust
*Improvement on confidence in insurance
*Having institutions that compete favourably in terms of liquidity
*Robust capitalisation
*Robust expertise
*Professionalism
*Integrity
*Strong corporate governance
*Cooperation
*Unity
The Commissioner submitted that these and many more factors are to be considered if stakeholders must see the insurance industry of their dreams.
