The Chartered Insurance Institute of Nigeria (CIIN) and Chartered Insurance Institute of U.K., have initiated a collaboration targeted towards building required human capital that will contribute to the advancement of the emerging developments in the global insurance market .
The deal was sealed at a recent strategic meeting between the two institutes at the London office of the CII.
At the meeting, the two institutes, deliberated extensively on how to build stronger relationship, knowledge sharing and best practice as well as other areas that both bodies could work together to engender human capital development and education for the benefit of the insurance industry.
CIIN president, Funmi Babington- Ajayi, who led the Nigerian delegation to the meeting, was received by the, CEO of the CII, UK, Susan Fisher, the institute’s COO, John Bissell, and strategic adviser to the CEO of CII, Carmen Powell.
A statement from CIIN, said after presentations by both bodies, they agreed on areas of collaboration that will enable the CIIN explore options/suggestions from CII London in order to get exemptions at Advanced Diploma level of the CII London examinations, and also earn maximum credit points.
Also agreed to be considered was collaboration for M.Sc. Insurance/Risk Management with the University of Lagos, where there will be exchange of already prepared curriculum so that the pragramme can be considered for exemptions by CII London.
CIIN authority, further said the meeting also agreed to look at recognising the Center for Insurance and Financial Management (CIFM) as an institution of prior learning.
It said other areas of collaboration include resuscitation of staff exchange programme to enhance capacity building, as well as run CII certification programmes and train the trainers at the CIFM.
Meanwhile, the CII, after the meeting, promised to send the CIIN a response to all the agreed areas of collaboration after due consideration by its board.
The CIIN statement, said Carmen Powell, strategic adviser to the CII, CEO during his presentation gave a snapshot of CII operations in Nigeria, saying the UK body, has only 145 members in Nigeria, which included 63 Associates and 19 Fellows.
The institute however acknowledged that it had limited interactions with the regulator, students, affiliate institutes, educational organistions and corporate bodies in Nigeria.
According to him, it is imperative that CII works together with the CIIN to grow membership in Nigeria since it had decided that Africa was the key to its successful international operations. The CII seeks to double its 13,000 overseas membership quickly, Powell said.