• Wednesday, May 29, 2024
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BusinessDay

Nigeria Re. names new ED to drive growth plan

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The board of Nigeria Reinsurance Corporation has appointed Yele Akinrolabu, as the new executive director, marketing and customer loyalty department of the firm.

The appointment, which took immediate effect, is part of the strategy of the company to use its skilled personnel to better serve its clients. Moreover, his appointment is to build on the current success of the company’s strategic plan, by implementing it to the letter.

It is expected that Akinrolabu will bring in his experience to reposition the reinsurance firm, as one of the top most reinsurance firms in Africa. His appointment is in tandem with the new strategic roadmap of the Corporation, which focuses on customer-organisation alignment.

Earlier in the year, the board of directors of firm unveiled a new strategic masterpiece to return Nigeria Re. to its leadership position in Nigeria as well as to become a profitable global player.

Part of the strategic tools was the establishment of new units to serve as a prime mover toward the realisation of the short- and long-term goals of the reinsurance company. The new units are Critical Operations, Research and Development, Strategic Performance, and Customer Loyalty.

The Critical Operation supervises the activities of other units but primarily focused on business development and the strategic performance and gives the feedback to the new executive director.

Customer Loyalty Unit is a unit that oversees the customers’ related issues. It is specifically in charge of ensuring the implementation of the Corporation-Customers alignment which is one of the key strategies rolled out to put the reinsurance outfit back to its leadership position in global reinsurance market.

Part of the strategic tools that the Department has deployed to align Nigeria Re with its customers is regular market visit, customer forum and customers’ rewards programme. The Research and Development Unit works with business and support units to gather information; analyse it and deduce an inference upon which the strategic performance measurement would be based. It also provides insightful information that is of local and global relevance expected to help the Management in making a quality decision. The department is currently handling the company’s visibility improvement programme which is one of the Corporation’s new strategies to ensure sustainable growth.

The new executive director will coordinate all activities of the strategic units and ensure proper alignment of all the business and support units of the Corporation towards the success of the new strategic plan.

The vast experience of Akinrolabu which cuts across strategic sector of the economy – media, aviation, insurance, oil and gas will no doubt spur on the desired growth and success to take the Corporation to the next level.

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