New CIIN President plans ‘business school model’ for insurance
By Esther Agbo
The new President of the Chartered Insurance Institute of Nigeria (CIIN), Mrs. Yetunde Ilori, has announced a four-point agenda called ‘‘EPIC,’ focusing on Education, Professionalism, Institutional recognition, and Capacity building.
This initiative aims to transform CIIN into a business school model for insurance.
At a press conference in Lagos, Mrs. Ilori, who will be the 52nd President, emphasised her deep commitment to her theme for the tenure and expressed confidence in achieving this vision with the collaboration of all stakeholders.
She stated, “We will focus on enhancing our educational programs, fostering innovation, and promoting ethical practices in the Nigerian insurance industry.
“We will also strengthen our collaborations with regulators, other professional bodies and relevant stakeholders. Steps will also be taken at sustaining success recorded by the previous presidents as well as completing previously initiated projects.”
Mrs. Ilori stated that the EPIC agenda, which stands for Education, Professionalism, Institutional recognition, and Capacity building, was crafted after assessing the industry’s current state and future needs.
The agenda aims to utilise technology for evolving education and bridging the knowledge gap about insurance, reaching new audiences, and transforming learning experiences for CIIN members.
She said, “EPIC was chosen after taking a critical look at our industry, assessing where we are and where we should be. This acronym encapsulates our commitment to Education, Professionalism, Institutional Recognition, and Capacity Building within and outside the insurance industry.
“Evolving education through technology (e-education). The world is undergoing a digital revolution, and the insurance industry is no exception. There is a critical need to bridge the knowledge gap about insurance.
“We must move beyond simple awareness campaigns and empower the public with real education. Technology is our key to: Reaching new audiences: We will leverage existing channels and institutions to deliver insurance education outside the industry.
“Imagine insurance as a core subject in secondary schools or a focus for training programs. This will significantly enhance insurance literacy across the nation.
“Transforming Learning within the Industry:For our members, we will embrace e-learning. Partnerships with established platforms will provide convenient and engaging learning experiences.
“Imagine preparing for exams with a whole new approach, one that is effective and enjoyable.
“Building Expertise through Partnerships: Executive training opportunities will be a cornerstone of our initiative. By partnering with reputable institutions, both local and international, we will offer certification programs that elevate professional skills.”
She continued by explaining that a Business School Model for Insurance would be developed, offering tiered training programs similar to those of business schools.
This model aims to make the Institute the leading institution for insurance education in Nigeria, catering to all levels from entry-level to executive positions. She also committed to upholding the highest standards of professionalism, emphasising that the ‘P’ in EPIC stands for professionalism, which is the foundation of the Institute.
“We will focus on discipline, maintaining the highest ethical standards is paramount. We will ensure strict adherence to our code of conduct. We embark on sensitisation, where every professional will know the demands of the certificate he or she holds.
“Enhancing the Institute’s Image:The CIIN will be synonymous with excellence. We will actively promote the value we bring to the industry and society at large.
“Making Insurance a top career choice:We will strive to make the CIIN qualification as prestigious as those offered by the other institutes. Our goal is to make insurance the first-choice career path for talented individuals.
“Elevating the Fellowship Program:A rigorous review of the Fellowship assessment process will ensure it continues to meet the highest global standards.
“Upgrading Program Quality:We are committed to offering exceptional educational programs that are continuously improved to meet the evolving needs of the industry.
“Building a recognised Institution (I). The ‘I’ in EPIC represents Institutional Recognition. We will establish credible awards.
“Program: The annual Insurance Week will be a highlight of our calendar showcasing the talents and achievements of institutions and individuals within our field. By instituting credible award giving events with well-defined criteria, we will celebrate excellence and inspire others to strive for greatness.
“Enhancing Capacity Through Targeted Initiatives ©. The final pillar of EPIC is Capacity Building. We will focus on strengthening the CIIN Secretariat:We will address any capacity gaps within the Institute itself, ensuring we have the resources to deliver on our ambitious goals,” she asserted.
Ilori believes that with support from the media and dedication from all involved, the Chartered Insurance Institute of Nigeria will become a force for positive change in the industry, empowering the public and elevating professional standards.
Moreover, her distinguished career began at Trans Nigeria Assurance Company Limited in 1984, where she quickly advanced to Head of the Life and Pensions Department. She later held leadership positions at Crusader Insurance Plc and AXA Mansard Insurance Plc, significantly transforming the companies under her tenure. As the Director General/Chief Executive Officer of the Nigerian Insurers Association, she achieved notable milestones, including the completion of the NIA’s iconic building and the digitalisation of the Nigerian Insurance Industry Database.
In addition, she holds a degree in Actuarial Science from the University of Lagos and is an associate and fellow of several Chartered Insurance Institutes. Her extensive experience and leadership have made her a beacon of excellence in the Nigerian insurance industry.
