CIIN, Babcock University to establish insurance department

A cross section members of the Chartered Insurance Institute of Nigeria (CIIN) and officials of Babcock University during a collaboration meeting at CIIN Secretariat in Lagos.

The Chartered Insurance Institute of Nigeria (CIIN) has promised to support Babcock University establish insurance department in the institute, as part of its commitment to increasing the industry’s manpower with new generation of Nigerian youths.

The President of the CIIN, Funmi Babington-Ashaye, made the promise when council members of the University led by its Deputy Vice Chancellor, Management Services, Prof. Sunday Owolabi, visited the Institute’s Secretariat, as part of the process to fine-tune the plans.
She said the Institute, which currently has about 5,000 qualified and student members, is committed to raising more professionals for the industry, stating that having the department and as a course of study in the universities, polytechnics and at secondary school level is a sure way to catch them young.

Babington-Ashaye, assured the University that the Institute will provide the necessary guidance to develop appropriate curriculum, which will enable students of insurance to have easy process of qualifying as associate members of the Institute, with some course exemptions.

She said the potential for employment and career progression for graduates of insurance in Nigeria is huge, as the industry is still developing which growth potential is yet untapped.

According to her, the present major pursuit amongst other objectives of the Institute is the promotion of insurance education, and awareness creation across the nation.

“This informed the Institute’s decision to make overture to and partner with Babcock University for the commencement of a degree programme in insurance.”

She further said the choice of Babcock University was based on the Institution’s antecedents, and the provision of qualitative education in Nigeria.

Prof. Owolabi in his remarks appreciated the CIIN for giving the University a hand of fellowship, saying the University is committed to making the project a reality.

Owolabi said the insurance department will be in the University’s Banking and Finance Department, where it will be nurtured to a full Department, assuring the CIIN that its choice of Babcock will add value to the institute and the insurance profession in Nigeria.

A nine-man committee drawn from members of the University Council and the CIIN, has been set up to fine-tune the arrangement and come up with a standard curriculum to establish insurance department in Babcock.



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