Thursday 18 September 2014

Insurers must do away with old methods to remain afloat - Adepegba

Adepegba
 
What can you say about yourself?

I am Adegboyega Adepegba, an administrator, and a trained Lawyer. I
have been involved in Educational Administration which culminated into
my appointment as Director – General of the Chartered Insurance Institute
of Nigeria – from 2003 to 2013. I retired meritoriously in 2013, and
immediately set up my practice as a Corporate Lawyer, and Consultant.
Currently we are involved in a lot of legal and intellectual work – with
forays into Corporate/Legal Practice, and Publications. By the time the
practice is in full motion, we shall make a full launch into Research and
Publication of Law Reports on insurance Matters covering Nigeria and
Africa as a continent.

You retired as Director – General of the Chartered Insurance Institute of
Nigeria in 2013, can you describe your experience in the Organization
particularly as the Director – General for upwards of 10
years?

Yes the Chartered Insurance Institute of Nigeria (CIIN) was an experience
– A whole lot of life experience, because I spent more than one third of my
lifetime there, considering my present age. But, well it was a nice one.
I had the opportunity to express myself, brought up
fundamental changes, which are still there for all to see.

What are you into now?

like I said earlier – we are fully involved in matters concerning
Governance in the financial sub-sector, with special interest in Insurance
and Banking.
I cannot advertise now, for obvious reasons, but suffice to say,
we are change agents for Companies and we preach the gospel of Good
Corporate Governance and Best Practice.
Of course, as Legal Practitioners we do what is required of us,
and we daily inch our ways towards the change we want to see in Board
Rooms, and offices in this country.
We are also into publishing – and this will blossom into a monthly
publication on Insurance Law Reports.
Of course I also serve in the Lords Vineyard as a minister of the Gospel.

What do you find as correlation between Law and Insurance?

Insurance and Law in my view are related and they are part of the
mechanisms for transforming the society – Law is about peace,
orderliness, while insurance is first and foremost for peace of mind, and
continuity. Same objective, identical methodology.
As a business, Insurance need Lawyers and paralegals to be part of the
team that develop New products, devise business strategies and make
sure the company complies with laws & guidelines regulating the
business.
I believe strongly that a sound synergy between the two professions
will promote harmony in our society.

What are your views about the Insurance Industry?

The Insurance Industry that I know is a potential boom waiting to happen.
With improved socio – economic conditions in the country, and Africa
Insurance will definitely thrive.
Nigeria is blessed with the population, with resources and
people of active life style. With about 60% of the population being youths;
there is a limitless opportunity for Insurance to develop particularly in the
area of life business.
I will just wish that Practitioners put behind certain prejudices
attitudes and old ways and run world class companies along best practices.
Old methods can hardly achieve new results.

What are you going to be busy doing in the next 5 years?

well I have told you what I am doing now. I will continue to do so, God
sparing my life I will devote more time to Insurance and Law. Carry out
researches/studies on these two noble professions. Make impact, as God
will enable me, and educate young Nigerians. I will serve my country
Nigeria to the best of my ability and as I may be opportune to.
I will also continue to serve God.

Your family:



Yes I am married with a moderately sized family. I have been married to my wife/my university hearthrob for upwards 32 years and we thank God for his blessings.

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