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Tag: ARIAN

  • Fraudulent agents get jobs unhindered, says ARIAN

    Fraudulent insurance agents easily secure new jobs from insurance firms unhindered, Association of Registered Insurance Agents of Nigeria (ARIAN) President, Ademola Fagbayi has said.

    He spoke at the association’s  Annual National Conference, Investiture, Annual General Meeting (AGM) in Lagos.

    Fagbayi, who said the association is seeking collaboration with the Nigeria Insurers Association (NIA) to help end the menace and preserve the integrity of professional agents, called on insurance firms to cooperate with them by providing names and other information of any agent found guilty of committing a fraud.

    He said: “As professional agents, we are not happy that fraudulent agents are able to commit fraud and continue to tarnish our image. Our major challenge is the fact that they are able to move from one insurance company to another. They easily get new jobs because the companies are eager to recruit in recent times.

    “This is why we are calling on insurance companies to co-operate with us. We want to collaborate with the companies and NIA. The type of collaboration that we want from the companies is the type that they will send names of agents that commit fraud to us so that we can stop the renewal of license to such agent. This will put an end to fraudulent agent moving from one company to another.

    “This is because ARIAN certificate is one of the conditions for license by the regulatory authority, the National Insurance Commission (NAICOM). So that when they find it difficult to renew their license with us at the association, they will not be able to get their agency license from the commission and in turn, they won’t be able to get a job in the sector again.”

    Meanwhile, ARM Life Plc Managing Director, Steve Alangbo, who was the guest speaker at the event, in his paper titled: “Retail insurance & digital transformation” advised the agents to leverage technology to attract more policy holders into the insurance value chain.

    He urged the agents to take advantage of the social media platforms to reach out to the uninsured in the country, stressing that technology would help make the agents more relevant, engender huge premium generation and enhance service delivery.

    “As agents, you also need to help your offices initiate easy ways of paying premium and settling claims,” he added.

  • ARIAN to tackle fraudulent agents

    •Seeks operators’ collaboration

    The National Association of Registered Insurance Agents (ARIAN)  is set to deal with fraudulent agents, the President, Demola Ifagbayi, has said.

    Ifagbayi, a General Manager at Mutual Benefits Assurance Plc, spoke at the first briefing of the new executives of the association in Lagos.

    He affirmed that the association discovered fraud by some agents.

    He said part of their challenge is that some insurance companies did not carry out proper monitoring of their agents.

    He said the association’s executives would clean the process and deliver a clean association for its members to thrive on.

    He appealed to management of insurance firms to report agents found guilty to the association and provide evidence that could enable them seek prosecution of such agents.

    He said: “We are aware that some agents have been trying to tarnish the image of the association by engaging in fraudulent activities. But with the new executive in place, all such issues will be resolved.

    “For instance, when we got information about a particular case, the first thing we did was to write the company concerned to find out the position of things. But the company turned it down, that they want to handle the case in their own way. We are not against that, but they should provide information for us to follow it up to its logical conclusion and eradicate fraudsters in our midst.’’

     

  • Agents urged to be innovative 

    •Ademola Ifagbayi now ARIAN President 

    Insurance agents needs to be creative and innovative to generate more businesses that will crystallise into a better result for the industry, immediate past President, Association of Registered Insurance Agents of Nigeria (ARIAN), Gbadebo Olamerun, has said.

    He made this known while speaking at the 2017 Annual National Conference, Election and 8th Award Ceremony in Lagos.

    He urged agents to imbibe the entrepreneur’s mindset to succeed in the ever competitive business environment, adding that an agent, who works like a member of the staff will not succeed no matter how much they pay him or her.

    According to him, an agent, who acts like an ‘agencyprenuer’  will succeed, adding that the dynamics at which the industry is going now demands greater aggressiveness from the agents to deepen insurance penetration in the country.

    He said:  “We are beginning to teach agents to have the owner’s mindset, not the staff’s mentality. They should start to think like they are the CEO, which they are. If an agent does not think like a CEO, he will not go extra mile even when the businesses are not forthcoming. So, we want them to think that they are an entrepreneur.

    “The competition for the industry is not within the sector, but outside it. The value the industry needs is to demystify greater value to see how agents can increase its reach to the outside market.

    “So, we are also projecting to our agents to begin to think outside the box, to put technology at the forefront of selling their business. You need to think outside Lagos, Abuja and Port Harcourt. There are so many other areas that can generate more businesses aside these three major urban areas. The agents should begin to see how they can generate more businesses that will crystallise into a better result for the insurance industry.”

    Equity Assurance Plc Managing Director, Moruf Apampa, while speaking at the event,  said technology is changing the perception on how businesses are done, while the sale of insurance products and services is becoming more appealing.

    He noted that the era of traveling from one place to the other to close insurance business deals is fast fading away, as most multi-billion naira deals are now being sealed on the internet and social networks.

    He stressed that if agents want to maintain their relevance in the industry, they must research more, increase their appetite for knowledge by becoming a professional in the industry and a taste of great ambition.

    Meanwhile, Mutual Benefits Life General Manager, Ademola Ifagbayi, emerged as the new National President of ARIAN at the event.

    He emerged as the president unopposed, while Olusegun Padoye from Leadway Assurance, becomes the Vice Chairman.

    The position of the National Secretary went to Ms  Opeyemi Osiyemi, who is an independent agent, with Ms Patricia Okeke from LASACO Assurance PLC becoming the Assistant National Secretary. The Treasurer is Ms Mokahan Mary from Custodian Assurance Plc while the position of Financial Secretary went to Mrs. Laurence Constant from AIICO Insurance Plc. The Social Secretary is Mr. Malachy Maduako from Standard Alliance Insurance, while the Public Relation Officer (PRO) is Mr. Moses Itoya from FBN Insurance.

    Commenting on the election, the Outgoing President, Olameru, said he has no doubt that the incoming president will bring on board his immense wealth of experience, adding that this is the first time a G.M is contesting for the presidency of the association.

    At the event, nine members, with a minimum of 15 years experience in insurance industry, were inducted into the Fellowship of the association, while Mrs. Yetunde Ilori, Director General, Nigeria Insurers Association(NIA) was installed as the Patron of ARIAN to succeed Sir Chief Oladipo Bailey as the pioneer patron of the association.

  • ARIAN gets new secretariat, plans housing estate

    In a bid to meet the general needs of its members, the Association of Registered Insurance Agents of Nigeria (ARIAN) has secured a befitting secretariat located at 187 Ikorodu Road, Palmgrove, Lagos.

    Its President, Olamerun Gbadebo, at a press breifing to unveil the office, noted that the training room within the office will be used to train stakeholders and equip members with trends in insurance practice.

    He maintained that the association in order to build capacity, has embarked on a campaign encouraging agents to acquire insurance professional certificates, adding that training would be organised for unit and agency managers in the secretariat’s training room.

    He said the association will soon organise training for would be retirees on the differences between annuity and programmed withdrawal.

    He further disclosed that the association will, on the 28th of this month, hold insurance walk in Abuja; Lagos; Ibadan and Owerri, adding that the walk is aimed at sensitising the public on the need to have fire and burglary insurances, and use them to secure their properties against losses.

    The walk, according to Gbadebo, is organised in partnership with the Federal Fire Service (FFC); Federal Road Safety Commission (FRSC) and the Nigerian Police Force (NPF).

  • ARIAN, CIIN disagree over certification fee

    A‘WAR’ is brewing between the Association of Registered Insurance Agents of Nigeria (ARIAN) and the Chartered Insurance Institute of Nigeria (CIIN) over the agency fee charged by the  institute.

    The disagreement arose from the longstanding issue of the N12, 500 to be paid by applicants to get the CIIN proficiency test certificate  before they are registered as licensed agents.

    The agents said they might soon  protest what they describe as an injustice by the CIIN.

    ARIAN President, Gbadebo Olamerun, made this known at the group’s Seventh Annual Conference and Awards in Lagos.

    He said the association had written to the institute to review the amount downwards from N12,500 to N5,000.

    He said this would enable ARIAN as a key stakeholder to mobilise its members to register, adding that this would increase the number of the National Insurance Commission (NAICOM)-registered agents.

    He said: “CIIN as an education institution of the industry has tightened the free flow of insurance agents for the proficiency test certification.

    “It is extremely distracting that my members are gradually losing their patience for a demonstration that is close to happen anytime soon. The institute is meant to aid and not to be strict to the other arm of the industry in order to achieve its own aim and objective.

    “We, therefore, say no to this unjust and inconsiderate action which has practically reduce the numbers of registered members as NAICOM licence agent and we also wrote an open letter to our institute to review the amount of the proficiency test certification from N12,500 to N5000, which will enable ARIAN as a key stakeholder to mobilise its member to register in mass and increase the number of NAICOM-registered agent.

    Olamerun also spoke about NAICOM ARIAN Unit Manager Training.

    He said the training could not hold because the lead supporting partner (NAICOM), which hosted the event last year, did not do so this year.

    He said he did not believe this was as a result of the recession but lack of political will to execute the progressive and educative initiative.

    He apologised to the agents who registered for the event but could not get the training.

    He said agents had been able to generate huge premium income for the industry, adding that an agent raked in over N300 million in 12 months.

    He urged them to take on a digital approach to move the insurance retail business to the next level.

  • ARIAN protests non-inclusion in Insurance Bill Review Committee by minister

    ARIAN protests non-inclusion in Insurance Bill Review Committee by minister

    AGENTS are protesting their exclusion in the proposed committee on the review of the Insurance (Consolidated) Bill by the Minister of Finance Mrs. Kemi Adeosun and the National Insurance Commission (NAICOM).

    To this end, the Association of Registered Insurance Agents of Nigeria (ARIAN) has written to the minister and NAICOM, asking that they be absorbed into the committee.

    The Ministry of Finance had constituted a 10-member committee to review the Insurance Bill to make it conform with the ideals of insurance practice and also ensures an efficient industry.

    ARIAN President Olamerun Gbadebo told The Nation that the committee would be incomplete without agents.

    He said the association has a lot to contribute to enhance retail business considered to be the panacea to insurance growth.

    He noted that it was in the interest of the industry if the agents were allowed to contribute to the review.

    He said it had become obvious that the government is the biggest insurance client with businesses like the Nigerian National Petroleum Corporation (NNPC), and group life insurance policy, among others.

    He added that it had also become clear that with the dwindling oil price, the government might not have money to insure all of its assets and properties hence the need to enhance retail business.

    He said: “The fundamentals to increase insurance premium is to invest into the retail arm of the industry and the insurance agents represent the retail segment. The retail segment can fill in the gap of the dwindling oil price while it bounces back.

    “The industry need concentrate on how insurance premium will grow and also increase the Gross Domestic Product (GDP) while the price of oil bounces back.”

    Reacting to the development, NAICOM said it is not responsible for setting of the committee.

    Spokesman to the Commission, Rasaaq Salami said NAICOM is only a member of the Committee and so there is nothing they can do about their exclusion from the committee.

    According to him, the bill has been with the Ministry of Finance.

    The review is expected to form the basis for a new draft bill, which will be sent to the National Assembly for consideration.

    Minister of Finance said the review committee with members drawn from the public and private sectors, was to submit its report within three months.

    The Review Committee, which is yet to be inaugurated, is chaired by Dr. Omogbai-Omo Eboh, a renowned expert in Insurance Law, while Dr. Talmiz Usman (Head of Legal Department, NAICOM is the Secretary.

    Other members include a representative of the Ministry of Finance; a representative of the National Insurance Commission; a representative of Nigeria Insurers’ Association (NIA), and a representative of Nigeria Council of Registered Insurance Brokers.

    Members of the committee also include a representative of the Institute of Loss Adjusters of Nigeria; a representative of the Attorney- General of the Federation, Kamar Raji and Dr. Ladi Hamalai of the National Institute of Legal Studies.

    The minister said the activities of the Review Committee would be  funded by NAICOM, which is the statutory agency of the Federal Government.

    According to the minister, the terms of reference of the committee include a critical review of the draft Insurance (Consolidated) Bill, to make it a framework or principle-based legislation; a comparative review of the bill to align it with the powers of other financial regulators as well as an examination of  market problems and recommendation of appropriate regulatory powers to allow the regulator, act appropriately.

  • ARIAN plans black book for errant members

    The Association of Registered Insurance Agents of Nigeria (ARIAN) is to launch a black book that will contain names of agents found guilty of sharp practices, the President, Olamerun Gbadebo, has said.

    Gbadebo, who made this known to journalists in Lagos, said the initiative, tagged: ARIAN Black Book, would make its debut in the first quarter of the year, adding that the book is intended to stem the menace of unethical practices by some members.

    He said when the initiative becomes active, names of agents found guilty, would be sent to underwriters and recruiting firms for them to be blacklisted.

    He said: “In our quest to eradicate sharp practices embarked on by some unprofessional agents, the association will, by first quarter 2016, launch a new initiative tagged: ARIAN Black Book.

    “This initiative is to reduce unethical practices by some insurance agents by creating a platform and a dossier of any agent found guilty of any sharp practices to all the underwriters and prospective recruiting houses.”

    He called on the public to join the agency trade, noting that the association is working to raise its membership to 20,000 by 2020.

    He stressed that the association would consolidate on the work already initiated in the year, which is poised at moving it to lofty heights.

  • The Nation Correspondent, Omobola wins ARIAN Best Journalist of the Year Award

    The Nation Correspondent, Omobola wins ARIAN Best Journalist of the Year Award

    The Association of Registered Insurance Agents of Nigeria (ARIAN) has named The Nation’s Insurance and Pension Correspondent, as the ARIAN Best Journalist of the Year Award in the Sixth edition of its awards in Lagos State.

    Insurance veteran, Professor Joe Irukwu was crowned the Man of the Year.

    Other winners are, Custodian Insurance, which emerged Insurance Company of the Year and Naija FM as Radio Station of the Year.

    ARIAN President, Gbadebo Olamerun while presenting said ARIAN nominated Tolu-Kusimo among three other journalist for her consistency in reportage of insurance activities and commitment to insurance agency growth and development.

    According to him, she this has increased the reach of agency practitioners likewise her unbias view on topic and sensitive insurance issues.

    He also said Irukwu was honoured due to his contributions to insurance development in the nation and the entire globe.

    He commended other winners for their contributions to insurance.

    Irukwu, who was represented by the President of Professional Insurance Ladies Association (PILA) Mrs Yetunde Adenuga, commended the association for its contributions toward insurance growth and pledged continued support in promoting growth and development in the industry.

     

  • ARIAN inaugurates chapter

    ARIAN inaugurates chapter

    The Association of Registered Insurance Agents of Nigeria (ARIAN) has inaugurated a new chapter in Owerri, the Imo State capital, its President, Gbadebo Olameru has said.

    According to him, the new chapter will enable the national secretariat to conduct the needed assessment to address some of its strategies towards the deepening of insurance.

    Olameru said the association had also identified developmental strategies to take records of  registered agents.

    The chapter was tasked to consolidate and develop the agency network in Imo State and work with all stake holders to eradicate fake insurance and create working relationship with the state government by increasing internally generated revenue of the state and reduce the rate of unemployment by developing agency network initiative across the state.

    He said: “It is our vision to see a strong and vibrant association with unlimited capacity to support the agency practitioner and improve the well-being of a successful insurance agent. It will also reduce fake agents around the country.

    “This establishment is also in line with NAICOM’s Market Development and Restructuring Initiative (MDRI).”

    He said the new excutive members of the chapter are: Chairman, Okereafor Chinedu; Vice Chairman, Ezeigbo Bush; and Secretary, Anunusor Sandra.

    Olamerun said he was determined to expand the insurance agency networks, hence the initiative to do a nationwide sensitisation.

    He further said the association was planning its yearly conference and annual general meeting for November.

  • ARIAN, NAICOM train 300 agents

    ARIAN, NAICOM train 300 agents

    The Association of Registered Insurance Agents of Nigeria (ARIAN) and the National Insurance Commission (NAICOM) have trained over 300 insurance agents.

    ARIAN President, Gbadebo Olamerun, who made this known in Lagos, said the training was sponsored by NAICOM to increase insurance penetration and it is the first of its kind in the industry.

    According to him, the Commission realise that it is better to train the foot soldiers – insurance agents.

    He said the agents trained represents agent managers, regional managers, unit managers and agency controllers from over 15 firms.

    He noted that the agents would further drive the agenda of the Commission on the Market Development Restructuring Initiative (MDRI)

    He stressed that the Commission expected them to increase  penetration, demystify the urban transactions common in the industry to urban rural.

    The training will help the agents to reach the nooks and crannies of the country. “There is no way we can achieve the goals without adequate knowledge,” he added.