By LOVETH AZODO, Lagos
The Commissioner for Insurance, Sunday Thomas has tasked operators in the industry on business etiquette and ethics in their professional dealings in order to position the industry for post COVID-19 era.
The Commissioner made the call Today at the NCRIB 2020 CEOs’ Retreat with the theme “X-Raying the Finance Act 2020.”
He stated that a lot has been put into improving the fragile image and perception of insurance in the country “It is high time we all rise up to the menace of unethical business behaviour in our sector,” he said.
NAICOM Boss noted that the unprofessional conduct of a few amongst the operators is posing great danger to the its collective integrity as an industry.
Addressing operators, he said “Let me task you on business etiquette and ethics in all your professional dealings.
“As the insurance industry positions itself for Post Covid-19 Era, the demands of the insuring public will require sound work ethics for us to optimize performance.”
“As intermediaries, business sincerity and customers’ satisfaction must be central to your core business principles.”
“The Commission has always and will at all-times extend her full support to all stakeholders in the industry in their drive for business growth and development. The Commission is open to new ideas and shall continue to introduce new reforms and initiatives in line with international best practices that will strengthen our institutions.”
On the commission’s preparedness of the post COVID 19 era, he said “To us in the insurance sector, what this situation has thrown up is that there must be a paradigm shift from our usual way of business practice. It is therefore imperative on us to embrace and align our businesses to the new world order if we must be seen to be relevant.”
“Ladies and gentlemen, your Regulator NAICOM is also adjusting to the challenges and/or opportunities which the pandemic has imposed on the socio-economic and business environment” he said.
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