Old Mutual rallies support for NCRIB  on professionalism

 In a renewed effort to strengthen professionalism and deepen awareness among stakeholders in the insurance sector, the Old Mutual Group recently sponsored the 2016 CEOs’ Retreat of the Nigerian Council of Registered Insurance Brokers (NCRIB).

The theme of the retreat which was held in Ilesa Osun State was ‘Growing Insurance Amidst Regulation’.

Old Mutual Group is the parent body of Old Mutual Life Nigeria Assurance Company and Old Mutual General Insurance Company.

Muhammed Kari , Commissioner for Insurance, while speaking at the event emphasised the need for practitioners to adhere strictly to the ethics of the insurance profession. He pointed out that rules and regulations are important to drive professionalism, adding that the regulatory body was prepared to be more flexible in its approach to the industry.

The commissioner also called for the re-branding of the industry to appeal to the consuming in public.

“As stakeholders, both the regulator and the operators should be able to work together to enhance industry growth. On our part, we have accepted to be more flexible in our approach to the industry. But we must all admit that rules and regulations are important to drive professionalism. We must do the right thing to appeal to our patrons. If manufacturers and service providers provide what consumers want, they will buy, but if they fail, consumers too will ignore them and whatever they bring to the table.  Having said this, I must confess, I need the operators to survive and they need me to operate.”

On why Old Mutual Nigeria threw its weight behind the retreat, at a time many organizations are cutting corner, the Chief Executive Officer of Old Mutual General Insurance Company, Rachel Emenike said the 171 year old brand has consistently supported platforms that can promote professionalism. She described brokers as major stakeholders in the insurance industry that cannot be dismissed, especially for the role they are playing in the economy.

“As an association of brokers, NCRIB is a major stakeholder not only to the insurance industry but also to the economy.