Yemisi Izuora
Nigeria’s insurance industry regulator, the National Insurance Commission, NAICOM, is providing more robust opportunities for exchange of ideas among insurance practitioners with the aim of achieving insurance penetration in the country.
The agency is organising a multi-sector gathering at its first annual retreat through its Insurers Committee to discuss innovation and healthy competition that will put insurance industry on the path of growth.
Head, Corporate Affairs, NAICOM, Mr. Rasaaq Salami, said Governor of Ogun state, where the event will hold, Senator Ibikunle Amosun will deliver a keynote lecture.
While the Minister for Finance, Mrs. Kemi Adeosun will be the chief host, other speakers at the event include Mrs. Bisi Lamikanra of KPMG; Chidima Lawanson, CEO of EFInA; Rotimi Okpaise, Managing Consultant, HR Nig. Ltd and Dr. Phil Osagie of JSP Communication.
The Nigeria Insurers Association (NIA) is expected to deliver a paper from the perspective of the underwriting firms on ‘Developing the Nigerian Insurance Industry 2017 – 2020; Issues, Concerns and Recommended Agenda.’
The ‘NAICOM’s Regulatory Agenda 2017 – 2020; Issues, Concerns and Strategic Intent’ will also be shared by the commission at the retreat.
The gathering, according to Salami, will be an avenue to review the activities of the Committee for 2016 and plan for the current year.
It is also an avenue to discuss ways to reposition insurance industry for significant contribution to the Nigerian economy, the statement added.
While insurance operators and regulator are to discuss extensively on issues affecting the industry such as Risk Based Supervision, Compulsory Insurance, Bancassurance, Annuity and New Channel for Insurance Distribution, among others, the two-day event would be rounded off with the first meeting of the Insurers Committee for 2017 to deliberate on the outcome of meeting.