Address by CIIN President, Eddie Efekoha during official opening of 2018 Insurance Professionals’ Forum

September 23, 2018

50 4 minutes read

ADDRESS BY MR EDDIE EFEKOHA, PRESIDENT/CHAIRMAN OF COUNCIL, CHARTERED INSURANCE INSTITUTE OF NIGERIA (CIIN) DURING THE OFFICIAL OPENING OF THE 2018 INSURANCE PROFESSIONALS’ FORUM ON THURSDAY 20TH SEPTEMBER, 2018 AT PARK INN, ABEOKUTA, OGUN STATE.

Your Excellency, Executive Governor of Ogun State, Senator IbikunleAmosun, FCA, CON

The Alake of Egbaland, His Royal Majesty, Oba AdedotunAremuGbadebo III

The Commissioner for Insurance, Alhaji Mohammed Kari

Past Presidents of CIIN here present,

Past Commissioners of Insurance

Chairman and Members, Organising Committee of the 2018 Insurance Professionals’ Forum,

Distinguished Professional Colleagues

Gentlemen of the Press

Ladies and Gentlemen,

I truly feel privileged to welcome honourable professionals, captains and thought leaders of our noble profession to the 27th edition of the professionals’ forum taking place here in Abeokuta. I would like to thank you all for your support during my investiture ceremony as the 49th president of the Chartered Insurance Institute of Nigeria and the goodwill you continue to extend to me. I am sincerely grateful
Distinguished colleagues, Ogun State has been a glorious host to the Institute and to the Professionals’ forum. So please permit me to thank in a special way, his Excellency, the Governor of Ogun State, Senator IbikunleAmosun, FCA, CON. An avid supporter of the Insurance Industry whose developmental strides have redefined Ogun State. Your Excellency, on behalf of my professional colleagues, I thank you for your unwavering support and hope that we will continue to work together in promoting the Insurance Industry Agenda.
As visitors to this historic city, it is only fitting that we respect tradition and pay homage to his Royal Majesty, Oba AdedotunAremuGbadebo III, the Alake of Egbaland. May your reign be one filled with tales of peace and prosperity among your people.
I would like to equally welcome the Commissioner for Insurance, Alhaji Mohammed Kari and also appreciate him for continuously supporting the Forum, Your distinctive leadership has been a source of inspiration to the Insurance Industry. My appreciation is also extended to the past commissioners of Insurance for their immense support to the Professionals Forum. Your contributions have ensured that the forum has grown considerably in strength and stature over the years.
We also say a hearty welcome to our colleagues from the Chartered Insurance Institute, London. Our collective goal is to turn change into opportunities for the growth of the Insurance Industry globally. I am positive that our partnership will go a long way in helping to achieve this goal.
This year’s theme “The Insurance Industry: Beyond Limits is an expression of what we all want the insurance industry develop into. Our discussants will be considering topics bordering on some of the following issues:
We all know that the balance of power is heavily tilting towards the consumers and new and ongoing social trends are shaking traditional business patterns in the Insurance Industry. Definitely, the relentless march of online and mobile technology will continue to fuel the constant change in customer expectations. Ladies and Gentlemen, online social networks are becoming pooling mechanisms for insurance and whether we like to admit it or not, Insurance companies are fast changing roles from being product manufacturers to administrative service providers. The evolution is here and we must embrace it.
Advances in software and hardware are transforming “big data” into information that gives enough insightinto the future for decision makers to take action. As the Insurance Industry reaps gains from the most recent wave of automation, new technologies are significantly enhancing operational efficiencies, increasing revenue opportunities and improving customer experience. How do we maximize the potentials of Insuretech using tools like block-chain technology among others?
We need to ensure persistence, respect, integrity and passion by way of ethics in the industry to boost the confidence of customers.
The need to promote an industry where good work and life balance is fostered is important to the long term success of an organization. Positive mental health and well-being leads to positive life outcomes for staff and better results in the workplace. How do we ensure this?
What excites me the most about this year’s forum, are the professionals who have been assembled to do justice to the topics penciled down for the program. There will be thoroughly enlightening sessions for everyone present and ultimately it will be an extraordinary experience for everyone involved.
Professional colleagues, distinguished Ladies and Gentlemen, your active participation in all the sessions of this forum remains the only way to guarantee that the efforts of the organizing committee in putting together a well packaged platform for knowledge sharing are not in vain. I must also commend my good friend and the Chairman of the organizing committee, Mr Bola Temowo for the effort he and the members of the committee including the secretariat have put in to ensure the success of this programme.
I have reserved this final part of my speech to state that, we are charting a course aimed at positioning the Insurance Industry as a key contributor to economic growth. It is pertinent to reiterate that the theme of my presidency, ADVANCING INSURANCE EDUCATION AND PROFESSIONALISM is driven by the realization that we must consistently strive to improve the quality of our human resources in order to turn the change enveloping the Insurance industry into opportunities. In line with our statutory role as the educational arm of the industry, my tenure will actively focus on education and professional development.
The clarion call is for everyone to embrace Insurance and I’m sure we are all aware of the strides being taken to promote the acceptance of Insurance in the country. We are making progress but are nowhere near our desired goal. However, I believe that with the efforts of the Institute coupled with the support of Insurance Professionals, Practitioners and regulatory bodies, we shall achieve the Insurance Industry of our dreams which will contribute meaningfully to the country’s GDP.
Distinguished Guests, Ladies and Gentlemen, I welcome you to all, once again to the 2018 Insurance Professionals forum and wish you all, a gratifying experience.