CHI reaffirms commitment to deepening insurance education, research in Nigeria

Underwriting firm, Consolidated Hallmark Insurance (CHI) Plc has reaffirmed its commitment towards encouraging research, as well as body of Knowledge in insurance industry in Nigeria.

Eddie Efekoha, managing director/CEO of the Company, who is also the CIIN President, gave the assurance at the 2017 edition of the award ceremony of CHI Annual National Essay Competition for higher Institutions in Nigeria offering insurance and actuarial sciences held in Lagos.

The Annual National Essay Competition commenced with the maiden edition in 2011 based on the firm belief by the CEO in developing talent and expanding the industry knowledge whilst encouraging research.

It entered its 7th edition in 2017 and has since been attracting significant interest with participation from institutions of higher learning spread across the country, with winners in the past emerging from University of Lagos, University of Uyo, The Polytechnic Ibadan, Lagos State Polytechnic and the second prize winner receiving awards today coming from the Imo state university.

Topic for the 2017 edition – ‘The impact of digitalization on marketing of Insurance services’ is quite appropriate in view of the increasing pull of private as well as corporate organizations to usage of new media channels for payments and also as the primary source of information. The insurance industry cannot but tap into rapidly unfolding cash-less society.

The overall winner of this year’s edition Olumodeji Damilola of the Lagos State Polytechnic went away with N250, 000.00, and opportunity for interview for employment in CHI on graduation from school. While the second prize winner is Onyeneke Chukwuemeka from Imo State University who got N150, 000, 00 and third prize winner, Asunlegan Babatunde from Imo State University who took away N100, 000.00. All the first prize winners in previous editions took up employment positions with us in CHI Plc.

Stakeholders who were in attendance including the vice chancellor Imo State University commended CHI for the initiative, while urging other institutions in the industry to emulate the as this will increase the bonding and interrelationship between the universities and the corporate world.

Richard Borokini, director general, Chartered Insurance Institute of Nigeria and Yetunde Ilori, director general, CIIN who were in attendance to witness the exciting event said the programme has in a big way assisted the work of the Institute in deepening insurance education in Nigeria.

They also expressed optimism, that having sustained the programme in the last seven years, there is no doubt that it has come stay.

It is in two levels – first level is the students’ departmental assessment panel constituted by their HODs which usually forward the best three entries to the company.

The second level of assessment is usually by an independent panel of distinguished insurance practitioners constituted by the company. They grade the best entries received from the various Institutions while average scores are arrived at to determine the final winners in the three categories.

The Annual CHI Plc Essay Competition for Tertiary Institutions has since carved a niche for itself, and students of Insurance and Actually Science now increasingly look forward to participating in it. It is now an integral part of the company’s Corporate Social Responsibility projects to which we shall continue to commit resources to annually.