Chartered Insurance Institute says Technology curbing fraud

ICT potentials in nigeria
ICT potentials in nigeria

The use of technology by insurance firms in the premium payment system has helped curb fraudulent activities of agents, President, Chartered Insurance Institute of Nigeria (CIIN), Lady Isioma Chukwuma has said.

She spoke during a courtesy visit by the institute to the corporate headquarters of Vintage Press Limited, publishers of The Nation newspapers and Sporting Life yesterday in Lagos.

Reacting to allegations of fraud against insurance agents, the president said the financial service industry which the insurance sector is part of, has discouraged cash through online payment to eradicate fraud.

She said part of the steps taken in the sector to reduce fraud in the agency system is to ensure that all agents are registered with the National Insurance Commission (NAICOM) and pass through the training process of both the Commission and the institute.

She resstated the commitment of the institute to place the insurance industry in a prime position in the financial services sector and the national economy as a whole.

She acknowledge the significant role of the media as a veritable purveyor of public education on insurance and financial issues.

According to her, it is important because of its position as the insurance industry’s partner in progress as well as helping to gauge public opinion about our industry and practice.

She stressed that the institute has substantially achieved its 11 point agenda during the course of her presidency.

Part of her achievement, she said include follow-up on the recognition of the CIIN Certificate by the Head of Service of the Federation by ensuring that all necessary approvals are obtained so that the certificate holders are appropriately placed in the Civil Service structure.

 

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About EZEKIEL ENEJETA 2107 Articles
Ezekiel Enejeta is a graduate of mass communication and a passionate journalist, his flair for writing has led him into pursuing a career in news reporting. He currently serve as the editor of Financial Watch. He can be contacted via phone call at 08141171945