BY NKECHI NAECHE- ESEZOBOR–The National Insurance Commission, NAICOM, has urged Loss Adjusters to take advantage of opportunities offered by the African Continental Free Trade Area (AfCFTA) to empowr themselves.
Olusegun Omosehin, commissioner for Insurance, NAICOM disclosed this during the NII-AfCFTA Committee enlightenment workshop for Loss Adjusters held in Lagos recently, that as “we expand our services to other African countries, new opportunities are also created for Loss Adjusters.”
Omosehin, who was represented by Ekerete Ola Gam-Ikon, deputy commissioner for Insurance, Finance and Administration, noted that “As trade increases, Loss Adjusters will play a crucial role in assessing and managing risks associated with cross-border trade, making their services more in-demand.
“We are therefore required to focus on enhancing our knowledge and skills in areas that gives us competitive advantages and leverage on exchange of skills with international players.”
According to him free movement of goods, services, and people could expand our nation’s operations across borders, increasing access to financial services and promoting economic development. Therefore, the enormity of the opportunities in galvanizing growth can only be imagined if we don’t actively participate as an industry.”
He reassured that Commission is committed to empowering Nigerian Loss Adjusters in the AfCFTA era but insist , Adjusters must step up and enhance their services, professionalism, and value proposition to remain competitive. “We’ll provide support, but your proactive efforts will determine your relevance”
He stated that for “us to stimulate the potentials of AfCFTA in the insurance industry, all stakeholders must remain positive by translating the commitments into actionable outcomes at the national and regional levels AfCFTA encourages collaboration among African insurance Companies.
He affirmed that through AfCFTA partnerships, Nigerian Loss Adjusters can leverage shared resources, expertise, and technology to improve their service offerings and competitiveness.
Earlier, Ekeoma Ezeibe, chairperson Nigerian Insurance Industry – African Continental Free Trade Area Committee, called on loss adjusters to leverage all available resources to harness the opportunities that would be provided by AfCFTA.
In her remarks, Yetunde Ilori, president, Chartered Insurance Institute of Nigeria (CIIN), spoke on the importance of embracing Artificial Intelligence to enhance customer service and streamline operations in the insurance industry.
She noted that AI is not a threat to jobs but a tool to improve efficiency.
