Business News

NIA Unveils New Chairman, Announces Strategic 5-Point Agenda

Published

1 year ago

October 24, 2024

L-R: Lanre Ojuola, Director of Operations, Nigerian Insurers Association (NIA); Mrs Bola Odukale, Director General/CEO, NIA; Kunle Ahmed, Chairman, NIA; Akinjide Orimolade, Chairman, Publicity sub-Committee of the 26th Chairman, NIA investiture, and Babatunde Fajemirokun, Chairman, Finance sub-Committee during the media unveiling of Kunle Ahmed, the 26th Chairman of the Nigerian Insurers Association, held at Insurers House, in Victoria Island, Lagos on Wednesday.

By LOVETH AZODO, Lagos

The Nigeria Insurers Association (NIA) has appointed its 26th Chairman, setting a bold strategic direction for the insurance industry in the country.

The newly elected Chairman, Kunle Ahmed in a pre-investiture media parley held Wednesday in Lagos, outlined a plan aimed at transforming the insurance landscape in Nigeria, addressing current socio-economic challenges, and driving growth and innovation within the sector.

In his address, the Chairman emphasized the need for the industry to become more customer-centric. He highlighted the importance of streamlining processes to improve customer satisfaction, particularly in claims handling and transparency.

By enhancing the overall customer experience, the Chairman believes that satisfied clients will become strong advocates for the industry.

The Chairman also acknowledged the need for digital transformation within the sector, which has historically been slow to adopt new technologies.

He expressed a commitment to embracing digital innovation, with plans to launch an innovation challenge aimed at improving service delivery and reducing costs. This shift toward technology, he noted, would help make insurance more accessible to all Nigerians.

A renewed focus on excellence in service delivery, particularly in fulfilling claims, was another key priority for the new leadership.

Despite the growth in claims paid in 2023, which reached N536.5 billion, the Chairman recognized the need for continuous improvement to build greater trust and confidence among stakeholders.

Additionally, the Chairman stressed the importance of advocacy and collaboration with government agencies, particularly in pushing for policies that support the insurance sector’s growth.

He pointed to the Nigeria Insurance Reform Bill as a crucial step in modernizing the regulatory framework. Alongside this, raising public awareness about insurance and improving insurance literacy will be central to the NIA’s strategy. Educational programs, including partnerships with media organizations, will play a critical role in expanding public understanding of insurance products.

As the NIA enters this new chapter of leadership, the Chairman called on the media to join in reshaping the narrative around insurance in Nigeria.

He underscored the industry’s potential as a tool for economic stability and risk management in the face of the nation’s evolving challenges.

The investiture ceremony will take place in the coming days, officially marking the start of the Chairman’s tenure.