Insurers committee to deliberate on innovation, competition in insurance industry

By Abdul Olalekan

The Insurers Committee, under the leadership of National Insurance Commission (NAICOM) will converge at its 1st Annual Retreat to discuss innovation and healthy competition that will put insurance industry on the path of growth.

A statement from the Head, Corporate Affairs, NAICOM, Mr. Rasaaq Salami, and made available to Business 247 News Online, said the retreat will take place in Abeokuta, Ogun State from  16th to 19th of February, 2017, where the Governor of the state, Senator Ibikunle Amosun will deliver a keynote lecture.

While the Minister of 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 the statement, 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.