There was a high dose charge of trust, transparency, integrity coalescing to create a landmark monument defining the practice of loss adjusting in Nigeria at the investiture of the 14th President of the Institute of Loss Adjusters of Nigeria ILAN, Pastor Ikechukwu Chibueze Udobi, and Managing Director, Cofii Global Loss Adjusters Limited in Lagos.
The Commissioner for Insurance, Olusegun Omosehin, who was represented by the Mr. Gbenga Jaiyesimi, Deputy Director, Market Conduct and Compliance, charged loss adjusters to stay in the lane of enduring commitment for excellence, fairness and integrity.
Omosehin reminded the members of ILAN that they are the bridge between the insured and the insurer and therefore, must project independent assessment of the truth that advances the pillars of trust, transparency as captured in the Nigeria Insurance Industry Reform Act 2025.
He advised loss adjusters to build an insurance industry that is credible and capable of driving economic transformation and also establish a profession that ensures claims are settled promptly.
The Chairman of the investiture, Pastor Patrick Odi Arah, a Chartered accountant and Managing Consultant, Dekelob and Associates Limited, said the investiture “reminds us that institutions do not grow by chance. They grow when committed men and women accept responsibility, uphold standards, and work together for a greater purpose.”
Dating from his past as a CFO of an insurance company, he said, “I have always felt a natural connection with the profession of loss adjusting. In accounting, we often say we are custodians of financial truth. In the same way, loss adjusters are custodians of fairness and factual judgement in moments of uncertainty and loss… loss adjusters assess claims to establish equity… both professions protect trust and help to strengthen the economic system.
He cleared that there is a limit to digital transformation and artificial intelligence, “one thing remains clear, when real loss happens, people still need human judgement, human integrity and human fairness” and no smart machine can replace. “That is why the subject of trust and transparency in insurance is so timely and so important. Trust is the foundation of insurance.”
Arah in no masked expression charged Udobi to be upbeat in his tenure and let it be marked by clarity of vision, wisdom in leadership,courage in decision making, inclusiveness in approach, and measurable progress in impact.
The guest speaker, Mrs Ebelechukwu Nwachukwu, MD/CEO REX Insurance, harping on trust, transparency and insurance, said “Without trust, insurance becomes just paperwork. Without trust, policies become meaningless documents. Without , trust, the entire risk management framework that supports economies begins to weaken.
“That is why transparency and professionalism must remain central to everything we do as an industry. And this is precisely where the role of loss adjusters becomes so critical. Loss adjusters play a vital role across the insurance value chain. Your work does not begin and end after a loss occurs. Through pre-loss surveys, you help insurers and policyholders understand risks, assess exposures, and strengthens risk management practices,”she stated.
ILAN President, Pastor Udobi, holding on to the pillars of trust said, “The maxim of my upbringing as a loss adjuster is make sure you write what you can defend before the law court and ensure that truth, fairness, and objectivity prevail in your judgement.”
He reiterated that the thrust of his administration for the next three years would be encapsulated in the acronym ‘BIRDS’ which stands for Building assets relocation, Internal processes improvement, Road map development program, Digital technology advancement and, Status upgrade programme.
Udobi who began his loss adjusting journey in 1995 just for one year before leaving for a limited period in an international trading firm, attributed his comeback to the special grace of God and the concerted efforts of several purpose built loss adjusters who were determined to raise him up as one of the next generation loss adjusters. He reckoned that it was a tough experience that could be liken to the fullers furnace for refining raw gold. “Today we can all appreciate the adjuster I have become,” he confidently said.
He pledged to pursue relentlessly all goals set within the three years time frame. “Furthermore, we shall continue to train and retrain ourselves in areas that will assist us in delivering quality service to our principals and insurance industry in general.”
