In a bid to improve human capital development in the insurance industry, the National Insurance Commission ( NAICOM), has announced that NAICOM Academy will commence between the end of third quarter or the beginning of fourth quarter 2021.
The commission disclosed this at the 2021 NAICOM seminar for insurance journalists in Lagos, the Commissioner for Insurance, Sunday Thomas noted that one area the commission has not gained speed, is the area of academy.
Explaining further on what they have done so far in this area, he said they have acquired a property and is currently being worked on and “we are believing by the end of third quarter or being of fourth quarter 2021 the Naicom Academy will take off.”
According to him the academy will not only serve her training needs, but also those of other regulators in the West African sub region.
According to him the academy will not compete with college of insurance which is currently being run by Charted insurance institute of Nigeria ( CIIN) but complement the activities of the institute for the benefits of insurance business and insurance profession
On distribution channel in the industry, he said the traditional method of distributing insurance is becoming outdated and inadequate to take care of the speed of the people the industry intend to reach.
“We must begin to develop other channels. They are few of them that have been developed that are waiting for final touches for them to be released.”
On corporate governance, he noted that that effective from the first of June the corporate governance guidelines has become effective.
This he said is to make ensure that whatever resources that are put into the insurance sector is well protected.
He said companies failure is as a result of human errors.”Companies don’t fail on their own, people make companies to fail. Companies don’t die, companies are killed and the death of companies involves some poor governance structure.”
