‘20% budgetary spend needed to close industry HR capacity gap’

To be able to meet the human capital need of the insurance industry for speedy growth and development, insurance companies must allocate at least 20 percent of their annual budgetary spend on human capital development.

This is believed would enable manpower training and development programmes for all cadres of the staff, particularly now that the industry is largely witnessing foreign player’s presence and increasing global competition.

Kola Ahmed, director general, Chartered Insurance Institute of Nigeria (CIIN) who disclosed this during a media interaction in Lagos to mark his 114 days in office said training and staff development must be taken seriously than ever, if the ongoing reforms and developmental programmes in the industry must yield result.

Ahmed said there is still dearth of knowledge in key areas of the industry like micro insurance, Takaful which were recently introduced by the National Insurance Commission (NAICOM), pointing out that there is need to provide necessary capacity to be able to explore the opportunities.

“For us at CIIN, we shall continue to promote knowledge based trainings to assist companies and players key into some of these market development programmes, otherwise its expected impact would be slow in coming.”

According to him, one of the key planks of his administration is to ensure that the Secretariat staff are well equip and motivated to think outside the box and support industry growth through excellent service delivery.

“We have in our short term span on the saddle succeeded in instilling vibrancy and renewed energy in the generality of our staff. We have replaced the culture of gloom and resignation with that of enthusiasm and high morale amongst staff. We have replaced the culture of impunity with that of organised and structured administration. We have streamlined our operations and the reporting line.”

Ahmed said he had succeeded in empowering the senior executives and restored their voices and vibrancy, a welcome change in the direction of producing positive and uninhibited results.

“Members of staff are now more alive to their responsibilities as they now respond to and welcome our customers with courtesy, respect and sense of mission. Staff now know that their appraisal and promotion are merit based as everybody is treated fairly, justly, humanely and equitably without making sacred cows of some, and scapegoats of others.”

Ahmed also maintained that in line with the resolve to reinforce the development of the College of Insurance and Financial Management, construction works had continued unabated, adding that in addition to the Admin/Multipurpose Block, the Restaurant (Sir Olusola Hassan Odukale Restaurant) and three (3) Chalets that were on ground as at May 2013, six new structures had been added with contract also awarded for the construction of four additional buildings which are expected to be completed before the end of April.

He said the management is irrevocably committed to ensuring that these combined developmental action-plan remain on course and that the Institute becomes a reference point in the comity of global professional bodies.