Leave a comment and share
Chuks Udo Okonta
Nigeria Reinsurance Corporation in a bid to enhance knowledge and boost capacity of insurance practitioners has organised reinsurance accounting system and claims handling training for insurers and brokers.
The training which was organised in conjunction with GIC Re South Africa Limited, held today in Lagos and was attended by practitioners from 30 insurance companies and six broking firms.
The Managing Director Nigeria Reinsurance Corporation Akinsola Ale, said the training was part of the firm’s support to insurance market development, stating that the training was organised to upscale the capacity of staff of insurance companies that have being with the firm over the years.
He noted that the theme of the training ‘Reinsurance Accounting System and Claims Handling’ was chosen to target the accounting system and claims handling so that the underwriting skills of participants would be upscaled.
He submitted that the company has lined up series of training that would be provided to practitioners, adding that the training focused mainly on non-life operators, while that for life operators would be organised before the end of the year.
On claims payment, he noted that people who complain about insurance companies not paying claims are those who don’t have insurance products, stating that insurance policyholders can attest to the fact that insurance companies do pay claims.
According to him, reinsurers have remained consistent in meeting up with their claims responsibilities whenever they called upon by insurers, stating that reinsurers and insurers do make a lot of sacrifices to meet payment of insurance claims.
The Managing Director/Chief Executive Officer GIC Re South Africa Limited, Jetho Jhamnani, said his firm partnered Nigeria Reinsurance owing to its firm belief in Nigerian insurance market, adding that the training was organised to expose the participants to expectations from reinsurance companies as regards accounting and claims handling.
On promptly settlement of claims, he charged the stakeholders involved in insurance – reinsurers; insurers and policyholders to ensure them live up to their responsibilities in ensuring prompt claims settlement.
Chief Operating Officer GIC Re South Africa Limited Varum Bhardwaj, submitted that the training would really help the participants in handling claims promptly, as they have been exposed to all that is necessary to ensure prompt claims settlement.
