Traditional Institutions Key To Driving Insurance Penetration At The Grassroots – Chukwuma

Efforts to deepen insurance penetration at the grassroots will go a long way if the insurance industry could work with traditional institutions and their leaderships at different parts of the country.

The transitional institutions it’s believed have a major role to play because of their closeness to the and the level of respect the enjoy from their subjects.

Isioma Chukwuma, immediate past president, Chartered Insurance Institute of Nigeria (CIIN) who completed her tenure as the 47th President of the Institute sharing her success story said her visits to the palace of the Ooni of Ife, Adeyeye Enitan Ogunwusi, Ojaja II and Emir of Kano, Muhammadu Sanusi II during her tenure in office added great value to awareness about insurance.

The two traditional leaders in appreciating the Institute’s gesture gave assurance of their support to any endeavour aimed at raising Insurance awareness especially in areas where insurance penetration is low.

In her valedictory speech to council members and management of the institute showed her achievement in deepening insurance awareness and penetration which was the focus of her administration.

Re-echoing the theme of her presidency ‘Consolidating the Gains Of The Industry For National Economic Growth’, Chukwuma observed that she succeeded in promoting the ideals of the insurance industry consultative council (IICC):

“I will like to report that the ideals of the Insurance Industry Consultative Council have been well sustained. The IICC has been able to hold three very successful editions of the National Insurance Conference.

On her achievements, she listed include reinforcing the huge potentials of the college of insurance and financial management (CIFM).

“Through sustained publicity, various Training Programs have been holding successfully at the College. The College is now well grounded and has held two Graduation ceremonies for its Diploma students.”

According to her, the Institute during her presidency has been able to consistently benchmark its curriculum to be at par with Frontline Insurance Institutes across the globe. “This is to ensure that CIIN certificate holders can continuously compete favourably with their counterparts in these climes.”

According to her, the Institute’s syllabus review has been concluded and presented to Council for approval and approval has been given for implementation. “The review exercise has provided the opportunity to widen the scope of the Institute’s Examinations to include Insurance Broking and Loss Adjusting routes. Full implementation for new students will start in April 2018 while arrangements are being made for the smooth transition from the old to the new syllabus.”

“We are pursuing with vigour the expansion of the institute’s examinations to countries in West, East and Central African sub-regions i.e. Ghana, Sierra Leone, Liberia, Kenya, Uganda, Zimbabwe etc. in order to extend the frontiers of our professional examinations. She, however, regretted that this was not achieved.