The Chartered Insurance Institute of Nigeria has promised to support Babcock University in Establish Insurance Department in the University.

The institute said that this is part of its commitment to increase the insurance industry’s manpower with new generation of Nigerian youths.

The institute’s president, Funmi Babington-Ashaye, made the pledge when the council members of the University led by its Deputy Vice chancellor, Management Services, Professor Sunday Owolabi, visited the secretariat as part of the process to fine-tune the plans.

She said the institute, which currently has about 5000 qualified and student members is committed to raising more professionals for the industry, stating that having the department and instituting Insurance as a course of study in the universities, polytechnics and at secondary school level is a sure way to catching them young.

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

She said that the potential for employment and career progression for graduates of insurance in Nigeria is huge, as the industry is a growing industry whose 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 stated that the choice of Babcock University was based on the institution’s antecedents and the provision of qualitative education in Nigeria.

Professor Owolabi in his remarks, appreciated the institute for extending the the hand of fellowship to the university, stating that the institution is committed to making the project a reality.

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

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