Loss adjusters in the country have been called upon to develop their manpower needs in order to meet the growing demand of the brokerage arm of the insurance industry. Desmond Olaolu, veteran insurance broker expressed dismay that with “the fast pace of development of the insurers, it will be counter-productive if the broker-dominated industry does not embark on growth measures aimed at meeting the demand of the underwriting business.”
He stated that the need for professionalism brought about by the consolidation of the industry lays credence to this call. He identified. “Professional misjudgment, corporate misjudgment or even errors of omission and commission as some of the areas which manpower development, if put in place, will help to curtail.”
Olaolu urged the loss adjusters and brokers to step up their training program and spread, while acknowledging the current efforts of the National Council of Registered Insurance Brokers (NCRIB) in this regard. The veteran further stressed that he was not satisfied with the level of man-power development of the loss adjusters, unlike the brokers who seems to be ahead.
He called on the Institute of Loss Adjusters of Nigeria (ILAN) to embark on comprehensive education and awareness campaign, with a view to making the public well-grounded in their functions which he said, is scarcely understood by the public.
“Why everybody may know what insurance is about even without having any policy with an insurance firm, not many can tell who a loss adjuster is.” he said.