Insurers seek growth for industry through innovation, competition

To achieve expected growth in the insurance industry, operators believe that healthy competitions as well as innovation both in product development and distribution as well as service delivery are critical.

Therefore, in an effort to chart a progressive way forward, the Insurers Committee under the leadership of National Insurance Commission (NAICOM) has scheduled to hold her 1st Annual Insurers’ Committee Retreat

The retreat with the theme: “Growing the Insurance Industry through Innovation and Healthy Competition” will take place at the Park Inn by Radisson Hotel Abeokuta, Ogun state from Thursday 16th to Sunday 19th February, 2017.

Ibikunle Amosun, the Executive Governor of Ogun State will deliver the keynote address while the Minister of Finance. Kemi Adeosun will be the Chief Host.

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 while it will also provide avenue to review the activities of the Committee for the period 2016 and plan for the year 2017; discuss ways to reposition the Insurance industry for significant contribution to the Nigeria Economy and also to discuss extensively on issues affecting the industry such as Risk Based Supervision, Compulsory Insurance, Bancassurance, Annuity and New Channel for Insurance Distribution.