NCRIB President Restates Commitment To Make Council League of Reputable Insurance Brokers
Our aspiration is to make our Council a League of Reputable Insurance Brokers that would offer valued services to insurance clients in the country, the President and Chairman of Governing Council, Nigerian Council of Registered Insurance Brokers (NCRIB), Mr. Rotimi Edu has said.
The NCRIB President who is also a legal practitioner said this today while speaking at the Council’s Diamond Colloquium in Lagos with the theme “60 Years of Insurance Broking: Redefining the Practice and the Practitioners.”
He said, “the Council has continued to braze up to the challenges being faced by our members for the collective good of the industry.”
According to him, “aside from seeing that our membership remains cohesive, informed, and dynamic, we have put in place strategies to edge out charlatans from our midst.
“Our aspiration is to make our Council a League of Reputable Insurance Brokers that would offer valued services to insurance clients in the country.”
Edu said with the introduction of a professional practising seal, “all members of the Council would be able to distinguish their practice and by so doing earn the required respect and dignity.”
He described the theme of the event as apt for the brokerage fraternity and the insurance industry as a whole “considering the renewed need to reappraise the mode of practice of insurance by practitioners towards accelerating their value delivery within the financial ecosystem.
“There is no doubt that time is past when we could think of doing the same things and expecting to have the same outcome.
While emphasizing the significant role insurance plays in any economy, Edu expressed regret on the inability of the industry to make a significant contribution to the nation’s gross domestic product (GDP), noting that the industry including the brokers are working hard to reverse the trend.
“As we are aware, Insurance plays a significant role in any economy as it promotes peace of mind, facilitates trade and commerce and enables entrepreneurship. Regretfully, as against the trend in advanced economies, the insurance industry in Nigeria has not been able to play its required catalytic roles due to multifarious reasons that time may not allow me to rehash here.
“It remains unacceptable that the industry contributes less than 1 per cent of the nation’s GDP. This development has been unnerving and as such all stakeholders in the industry, including our Council have been making strident efforts to reverse the trend which requires more adherence to professionalism, ethics and acceleration of public awareness initiatives about the industry.
Edu also hinted that the occasion would “be utilized to officially unveil the 60th Anniversary Book and Compendium of Insurance Brokers by our respected Olola Olabode Ogunlana, Doyen of Insurance Industry in Nigeria and foremost politician and Managing Director of Federal Housing Authority, Senator Gbenga Ashafa.”
The epic book, he said, “would no doubt serve as a rich reference material, both for insurance practitioners and everyone desirous of information about the NCRIB and other information relating to insurance broking practice. I call on everyone to support the book project when it is time to do so.”
