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Thin stretch of High Calibre Technical Skill Capacity Plagues Insurance Industry

Staff Reporter by Staff Reporter
January 22, 2025
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Thin stretch of High Calibre Technical Skill Capacity Plagues Insurance Industry
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The growing concern in the insurance industry about the thin stretch of technical skill is assuming a very high dimension with hunt for skilled technical resource person giving the picture of a prolonged search.

Last quarter of last year at the annual general meeting of the Institute of Loss Adjusters of Nigeria ILAN, the Chairman, Nigerian Insurers Association (NIA), Kunle Ahmed while addressing Loss Adjusters said the industry is lacking the required number of high calibre technical staff. “We are not technically deep anymore,” he cleared.

He cited an example of his company where he the hire of technically wired chief underwriter took over a year to get one. He said it took that while because those that came by were not fitted to the requirement until he found one from another company.

He also advised loss Adjusters to evolve and grow skill by leveraging new technology. and take time to assess what could be improved upon, “because if you don’t, a fintech will come and start doing those things you are doing and all of a sudden you don’t see those jobs being done by ILAN anymore and you don’t want that to happen.”

Ahmed urged ILAN members to to evolve better service and at the same time go further to preserve and protect their profession. He cleared that “its not going to happen that everything will be digitalised. No. The human touch is absolutely necessary. But there might be some areas in your job that you can further enhance by deploying technology.

“One thing about innovation is that if each company decides to go it alone, it will be too expensive. But if as a body you come together, perhaps it might be easier to do. It applies to insurers too,” he stated.

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