NAIPCO Plans Outstanding Award For Insurance Firms, PFAs

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Yemisi Izuora

The National Association of Insurance and Pension Correspondents (NAIPCO), will be honoring outstanding Insurance Companies alongside some individuals with awards during its 2017 conference.

The event is scheduled to hold on October 25 at Oriental Hotel, Lagos.

The conference is designed to be a gathering of stakeholders from the two sectors as well as their customers.

The shortlisted companies emerged after rigorous audit of their financial performance and regulatory compliance.

Their performance in terms of balance sheet size, Premium income, Returns on Investment, Pension Assets Under Management (for pension fund administrators), clientele base and profitability were equally crucial factors to determine the eventual winners.

Also, they were examined on how impactful and innovative their products are, sizing the opinion of their respective customers who patronise their products.

On individual awards, the awardees must have contributed to the growth and development of the sectors they operated in through investment or advocacy.

The award winners will be unveiled at the conference.

Meanwhile, the Commissioner for Insurance, Mohammed Kari, will deliver the keynote address at the conference. Kari is expected to address the forum on the level of regulatory compliance of the insurance operators as well as policies of the National Insurance Commission (NAICOM) aimed at increasing insurance penetration and acceptance in the country.

The acting Director General, National Pension Commission (PenCom), Mrs. Aisha Dahir-Umar and the Executive Secretary, Pension Transitional Arrangement Directorate (PTAD), Mrs. Sharon Ikeazor, will also deliver keynote address, while the Lagos State Governor, Mr. Akinwunmi Ambode, will be the Guest Speaker.

Investor and industrialist, Chief Dele Fajemirokun, will chair the occasion, while, the  Iyaloja of Lagos, Mrs. Folashade Tinubu-Ojo, will lead the delegation of market women and traders in Lagos State to grace the occasion.

The annual event, designed to discuss burning issues bordering on the two sectors, will also accommodate the launch of the Association ‘s Quarterly Journal, NAIPCO Trumpet.

NAIPCO President, Mrs. Omobola Tolu-Kusimo, said the association was extra careful in choosing companies and individuals to be awarded, using the aforementioned parameters, to ensure that those awarded merited it.

” As an association, we have been distancing ourselves from giving awards because of the ways awards are politicised these days. But we believe the public will believe us the more if we award company A for its outstanding performance, using credible criteria.

“This is because this is a sector most of our members have been reporting for decades and have a good knowledge of how each firm operates,” śhe stressed.

She stated that the motive behind organising the conference was to find a way of increasing insurance and pension awareness in the country as well as developing the sectors to increase consumer value and contribution to economy.

NAIPCO Journal, which would also be launched at the event, she added, is a project of the association also aimed at increasing insurance and pension awareness, adoption and penetration in the country.

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