Insurance World

Technology, Knowledge Acquisition Key In Achieving Work Flow Efficiency In Insurance Industry

L-R: Rotimi Olukorede, Chairman, NCRIB, Lagos Area Committee (LAC); Fatai Adegbenro, Executive Secretary, Nigerian Council of Registered Insurance Brokers (NCRIB); Ganiyu Musa, GMD/CEO, Cornerstone Insurance Plc; and Ayo Akande, Council Member, LAC at the NCRIB-LAC April General Meeting and first members empowerment series with the theme “Work Flow Efficiency” sponsored by Cornerstone Insurance Plc held in Lagos.

Stakeholders in the nation’s insurance industry have identified investment in technology, knowledge acquisition as key in achieving work flow efficiency in the delivery of services to consumers.

The stakeholders made the observation at the Nigerian Council of Registered Insurance Brokers (NCRIB) Lagos Area Committee (LAC) April General Meeting held in Lagos, sponsored by Cornerstone Insurance Plc with the theme “Work Flow Efficiency”.

The forum witnessed quality presentations on work flow efficiency tied to motor policy, as well as marine business, and how insurance consumers could be served better from a knowledge background.

Rotimi Olukorede, chairman, NCRIB Lagos Area Committed in his welcome remarks said this is the first empowerment series to equip members with the right knowledge and skills that will enhance their efficiency in the profession.

Olukorede promised that a lot more will come as Knowledge is vital in driving growth and increasing relevance in the profession.

Bola Onigbogi, president and chairman of council, NCRIB who was the chief host said the empowerment programme is an innovative idea that will impact members positively and enhance their professionalism, urging the LAC to continue improving the knowledge base of her members.

Ganiyu Musa, group managing director, Cornerstone Insurance Plc, sponsors of the event said work flow efficiency is critical in driving growth and sustainability, stating that this is why Cornerstone Insurance attaches a lot of importance on technology.

Musa said “What we have done is to invest on technology which enable us engage effectively with our partners including brokers, and this has reflected in our positive performance over the years.

According to him, the Covid-19 pandemic and lockdown did not have too much impact on the company in terms of business continuity because of its huge investment in technology before the pandemic.

We were not anticipating pandemic before we invested in technology, as that has always been our strategy to improve customers experience and engage our partners effectively, he said.

Tunde Thomas, Lead Consultant, Value Edge Insurance Brokers in his presentation tied to achieving work flow efficiency in motor business, noted that the more you sharpen your skills as an insurance broker, the more you are able to deliver efficiently.

Thomas stated that therefore knowledge is key in achieving work flow efficiency. When work flow is efficient, the bottom line is positively affected, he said.

Joycelyn Ogbuokiri, managing director/CEO, Star Gate Insurance Brokers in her presentation tied to marine business identified the importance of knowledge in delivering insurance services.

According to her, insurance marketing should be knowledge driven to ensure work flow efficiency.

Adegboyega Adedoyin, managing director/CEO, Thrive Insurance Brokers Limited said insurance industry has been conservative for too long, but however expressed happiness that the trend is changing with speed, particularly in adoption of new technologies.

“We must change the way we do things, which is the only way we can achieve work flow efficiency, Adedoyin said.

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