NIIDP Launch Underway- Kari
The much-awaited launch of the Nigerian Insurance Industry Development Plan (NIIDP) would soon be realizable, Commissioner for Insurance/CEO National Insurance Commission (NAICOM), Alhaji Mohammed Kari has said.
Kari disclosed this Monday in his address at the opening ceremony of the 2018 Insurance Industry National Conference organized by the Insurance Industry Consultative Council(IICC)with the theme” Insurance Industry and Financial Inclusion” holding at Transcorp Hilton Hotel, Abuja.
He noted that the timing of the Conference was significant especially as stakeholders prepare to launch the Nigerian Insurance Industry Development Plan (NIIDP) which has Financial Inclusion as one of its major components.
Speaking more on the NIIDP, the NAICOM boss said work has already been concluded with inputs from KPMG, a consulting firm who will also independently monitor its implementation to ensure each segment of the market keep to date with their assigned responsibilities.
“It may interest you to know that the plan has been presented to the Insurers Committee, a body comprising management of NAICOM, CEOs of insurance companies and heads of insurance trade associations and the Chartered Insurance Institute of Nigeria (CIIN) to ensure every player in the industry is on the same page with us. I commend the market committee and KPMG for the good job on the NIIDP”, he said.
He posited that financial inclusion is premised on the principles of equity (i.e. social cohesion and bridging the gap in income equality) and inclusive economic growth & development, adding that it is a global objective which has different dimension since countries and institutions are wont to develop models that will best suit their peculiar environment. But irrespective of the jurisdiction, the consensus seems to be that financial exclusion is one of the main causes of poverty in the world.
He said part of the content of the NIIDP is how the insurance sector in Nigeria could effectively and efficiently navigate this turn to increase the number of policyholders while reducing the figure of the financially excluded, stressing that the strategic initiatives and implementation plans of the NIIDP notwithstanding, stakeholders in the sector have dedicated this forum to financial inclusion for an opportunity to listen to speakers and discussants with divergent views and opinions to improve on what already exist.

Key speakers at the conference include,  Founder and Chairman, Zenith Group,Mr Jim Ovia, Mr John Tani Obaro, MD/CEO Systemspecs, Mrs Bose Odueke CEO Alpha Oasis International Inc and others.