Wednesday, November 30Inside Business Africa

Stakeholders task insurance industry on need for Inovation

The Funmi Babington-Ashaye Foundation has joined other stakeholders to canvass ideas that would enable the insurance industry to make a smooth transition to new normal.

The foundation at a virtual seminar titled ‘Insurance in the new normal’, which had industry stakeholders in attendance focused on helping the new generation of insurance professionals identify challenges posed by COVID-19 pandemic and chart a new course to remain relevant in the global ecosystem.

The chairperson of the Board of Trustees of FBA Foundation, Funmi Babington-Ashaye, said the organisation realised the need to train the future generation of insurance professionals and get them to open their minds to opportunities and challenges brought by COVID-19.

Babington-Ashaye who is also the Chief Executive Officer, Risk Analysts Insurance Brokers Limited, said the training would assist the young professionals to come up with ideas that would help in the growth and development of insurance.

According to her, any organisation that refuses to adapt to changes in the new normal faces an existential threat.
“This period has offered operators in the industry a chance to build trust, brand and employee morale,” Babington-Ashaye said.

The seminar witnessed a presentation from the President, the Chartered Insurance Institute of Nigeria (CIIN), Muftau Oyegunle; President, Professional Insurance Ladies Association (PILA), Joyce Ojemudia and Group Chief Executive Officer, VAS2Nets Technologies, Ayo Stuffman. It was moderated by Managing Partner of Etinard Consulting Limited, Maureen Ada-Leonard.

Oyegunle who applauded the efforts of FBA Foundation in organising the seminar said mentoring is key in achieving leadership qualities because whatever career you find yourself in, you need discipline.

He said the COVID-19 has changed the way insurance business is conducted, reducing physical interaction.

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