Barely one week to her investiture as the 52nd president and chairman of the council of Chartered Insurance Institute of Nigeria Mrs Yetunde Ilorin have started marshalling out her programmes and policies saying that her desire is to ignite the bedrock of the envisaged Nigerian insurance industry.
Mrs Ilorin who will be stepping out next week as the new president of the CIIN is perhaps one of the few insurance practitioners in the country who have participated in every facet of the business including administration.
Speaking at a pre investiture press briefing in Lagos July 15, 2024 Mrs Ilorin said that it has been her honest desire to contribute more meaningfully towards the growth and development of the nation’s insurance industry.
“I have a deep-seated desire that gave birth to the theme of my tenure “Igniting the bedrock of our envisioned industry” and I believe with all of us 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.
“The theme is expected to be actualized under the agenda summarized in a four-letter acronym EPIC. EPIC as a word means 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)” she said.
According to her, “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.
• A Business School Model for Insurance: We will create a tiered training program modelled after business schools. From entry-level to executive levels, our Institute will become the premier destination for insurance education in Nigeria.
Promoting the Highest Standards of Professionalism (P) The ‘P’ in EPIC stands for professionalism, the bedrock of our 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 expressed confidence that although “EPIC is a bold vision, but I am confident that together, we can achieve remarkablethings. With your support and dedication, the Chartered Insurance Institute of
Nigeria will become a force for positive change in the industry. We will empower the public, elevate professional standards, and ensure our Institute is recognised as a beacon of excellence”.
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