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Insurance institute partners brokers to push compulsory insurances, market penetration

As part of efforts to increase insurance adoption, the Chartered Insurance Institute of Nigeria (CIIN) has assured the Nigerian Council of Registered Insurance Brokers (NCRIB) of its collaboration to ensure the propagation of the gospel of compulsory insurances as well as boost the insurance penetration level in the country.

 The President of CIIN Sir (Dr) Muftau O. Oyegungle gave this assurance at the Courtesy visit of the NCRIB Council to the Institute on February 2nd, 2022.

 Speaking, the President of NCRIB, Mr Rotimi Edu, explained the reason for the Council visit was to pay homage and seek the support of the Institute in driving his thrust of office which includes; to promote compliance with compulsory insurances; elevate the quality of professionalism in insurance broking, boost insurance adoption amongst others.

Mr Edu while congratulating Sir (Dr) Oyegungle on his recent Doctorate Degree in Insurance, commended the leadership role of CIIN in the industry especially; on the establishment of the College of Insurance and Financial Management (CIFM).

Mr Edu emphasised that partnering with the Institute will greatly help accelerate insurance awareness through improved education, sensitisation programmes and trainings across the country.

In his response, Sir (Dr) Oyegunle congratulated Mr Edu as the 21st President of NCRIB and expressed optimism in his capacity to deliver effectively.

He said “I thank the NCRIB Council for this visit, we are happy to host you and you can be rest assured on our support and partnership to grow the industry. The position insurance brokers occupy in the industry is very vital and needed for the growth of the sector”.

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