College of Insurance to get multi-million Naira auditoriums from CIIN

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Determined to bolster infrastructure at the College of Insurance and Financial Management (CIFM), Chartered Insurance Institute of Nigeria (CIIN) will soon commence the construction of a multi-million Naira auditorium.

The President of the CIIN, Eddie Efekoha, who disclosed this at a forum in Lagos, noted that N50 million had been set aside to commence the project.

According to him, the N50 million was received from the National Insurance Commission (NAICOM), stressing that the said amount will be used to start the work, while efforts will be geared on looking for more sponsors.

Efekoha posited that the institute will continue to expand infrastructure at the College, which he said is helping the institute in conducting her examinations.  He appreciated companies and individuals who have supported the College since inception, while urging more companies and well to do persons to partake in the development of the College.

More so, Efekoha had at another forum urged insurance practitioners to embrace new trends in technology, which are changing how businesses are operated. According to him, insurance companies are fast changing roles from being product manufacturers to administrative service providers and the evolution is here and must be embraced by all practitioners.

He noted that the balance of power is heavily tilting towards the consumers and that new and ongoing social trends are shaking traditional business patterns in the Insurance Industry, hence, relentless march of online and mobile technology will continue to fuel the constant change in customer expectations.

Online social networks, he said are becoming pooling mechanisms for insurance, stressing that whether operators like to admit it or not, insurance companies are fast changing roles from being product manufacturers to administrative service providers.

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