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Expert Tasks Loss Adjusters on Training, Status Enhancement

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As insurance business in Nigeria grows, industry watchers have opined that the loss adjusting arm of the industry is not growing at a corresponding rate. Of significant importance is that not many people seem to know the role of loss adjusters in insurance. While some have blamed this on lack of awareness brought about by the industry lukewarmness, others believe that this arm of business has chosen to hide at the back of the insurance industry instead of correspondingly creating its image enhancing platform. Who is a loss adjuster and what role does he play in the insurance business?  Industry watchers say the loss adjusting profession is in a state of flux. According to expert opinion, the market, as with other areas of insurance, is characterised by a shortage of candidates to fill the available pool of loss adjusting jobs.
Loss adjusting as a profession has always been viewed as contractors, but the lack of availability of quality permanent candidates has brought about a situation where employers are hiring a more diverse workforce, including older loss adjusters and those loss adjusters who want to work more flexible hours. Having loss adjusters in close proximity is the main priority of claims managers.  The result is that there is a shortfall in the number of adjusters expected to cope with the renewed pace of the insurance companies especially after the recapitaliszation of the insurance industry.
Nigeria has been growing at the same pace with insurance. So since the general impression is that insurance has had it rough in terms of acceptability, loss adjusting therefore cannot be any better. However, due to the cyclical nature of loss adjusters workloads, there are periods where firms are not as frantic about anlarging the horizon by taking in more loss adjusters.The market has experienced skills shortages, especially within specialist and property claims.
Succintly put, the Nigerian loss adjusting market is characterised general lack of qualified loss adjusters and this has also been the case in other areas of insurance such as underwriting jobs. Employers across the country seek smart, personable, customer service-focused individuals but identifying this mix of skills is not always easy. For some insurance firms, investment in training is more crucial than ever.
Increasingly, employers within the insurance industry are training candidates from diverse backgrounds such as engineering, surveying and accountancy. This provides a pool of talent that can be deployed across businesses. As the boundaries between financial services companies become less defined, more candidates are moving to and from broking jobs, insurance and loss adjusting segments of the industry.
More than before, there is renewed need to entice new entrants into the loss adjusting profession to cope with the projected business explosion which may result from the operators determination to join in the fast-moving global insurance train.  But in an attempt to attract candidates into it, employers are offering structured training programmes and benefits such as flexitime and generous bonuses in response to candidates demanding security, exposure to more sophisticated markets and the ability to fulfil their career aspirations.
Concerned industry watchers have therefore tasked the leadership of Institute of Loss Adjusters of Nigweria,(ILAN), on the need to redouble their efforts by taking campains to the higher institutions as well as intensifying training programmes with a view to enhancing the profession. This becomes more so as the insurance industry in Nigeria is beginning to enjoy a measure of acceptability from the insuring public. With a good platform, professionals in other business areas may be attracted into loss adjusting as a career.
Commercial adjusters have to be qualified to cope with emerging trends which makes training a necessity. Following the market they serve, loss adjusting business is increasingly becoming more flexible. The role of Loss Adjusting firms is expected to evolve into claims solutions companies as it cannot be detached from insurance. Expectedly therefore, mergers and acquisitions, either by insurers or other outsourcing firms cannot be ruled out, a situation that will further consolidate the market.

 

 


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World Bank Blocks Social Media Comments from Nigerians over Loan Backlash

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World Bank has restricted comments on its Instagram page after thousands of Nigerians flooded the platform begging them to stop lending money to Nigeria.

World Bank Blocks Social Media Comments from Nigerians over Loan Backlash

The protest erupted after reports that President Bola Ahmed Tinubu is seeking a fresh $1.25 billion dollar loan for approval on June 26.

Some Nigerians asked the World Bank to provide more details about the purpose of the loan and how the funds would be managed.

Others said the country should reduce dependence on foreign loans and focus on improving local revenue.

The federal government has continued to defend its borrowing plans.

Officials say the funds will support economic reforms, development projects and efforts to strengthen the economy.

Nigeria remains one of the major borrowers from the World Bank in Africa, with different administrations securing loans over the years for infrastructure, social programmes and economic support.


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Lagos Plans New Cybersecurity Centre

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The Lagos State Government plans to establish a Cybersecurity Operations Centre to strengthen protection of government systems, digital services and citizen data amid rising cyber threats linked to the city’s expanding digital economy.

Tunbosun Alake, Lagos commissioner for innovation, science and technology, said the centre would help secure the infrastructure supporting online payments, e-government services, cloud platforms and technology-driven business operations across the state.

According to Alake, the facility will monitor, detect and respond to cyber threats targeting government networks, digital transactions and sensitive public data.

The move comes as Lagos accelerates its smart city agenda through investments in broadband infrastructure, digital identity systems and automated public services.

Alake said Lagos had already deployed 109 Data Protection Officers across Ministries, Departments and Agencies, which he described as the highest number among Nigerian states, to strengthen compliance with data protection regulations.

Alongside the proposed cybersecurity centre, the state also launched the Lagos Campus Network Upgrade project aimed at improving digital infrastructure within the public sector.

The upgrade is expected to improve network performance, automate internal government processes and enhance digital engagement with residents. The cybersecurity initiative follows the release of Lagos State’s cybersecurity guidelines in April.

The framework recommends measures including multi-factor authentication, vulnerability testing, encrypted backups and tighter endpoint security controls.

The guidelines align with Nigeria’s Cybercrime Act 2024, the Nigeria Data Protection Act 2023 and the National Cybersecurity Policy and Strategy 2021.

 


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LG Electronics Strengthens Household Energy Efficiency in Nigeria with Advanced Inverter Refrigerator Solutions

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LG Electronics (LG) is reinforcing its commitment to smarter and more energy‑efficient living by spotlighting its range of inverter‑powered refrigerators designed to meet the evolving needs of Nigerian households.

As electricity costs continue to rise and inflationary pressures shape consumer spending, LG’s refrigerator portfolio is positioned as a practical solution that combines dependable performance with responsible energy consumption.

Refrigerators are among the most frequently used appliances in Nigerian homes, operating 24 hours a day and accounting for a significant share of household electricity usage. LG addresses this challenge through its proprietary Inverter Compressor technology, which intelligently adjusts cooling power based on actual usage conditions.

By reducing unnecessary energy draw, the system delivers stable temperature control while helping households lower energy consumption and manage monthly utility costs more effectively.

Beyond energy savings, LG refrigerators are designed to support food security and reduce waste, an increasingly important consideration for families navigating rising food prices. The inverter system enables faster cooling recovery after power interruptions and helps maintain consistent internal temperatures, preserving food freshness for longer periods. With fewer friction points in the compressor design, LG refrigerators also offer enhanced durability and long‑term reliability, minimizing maintenance costs over time.

LG’s energy‑saving refrigerator lineup includes Top Mount, Side‑by‑Side, and Door‑in‑Door models, each tailored to different household sizes, storage needs, and lifestyle preferences. The Top Mount refrigerators offer practical, space‑efficient designs ideal for everyday family use, delivering reliable cooling with optimized energy efficiency.

The LG GN-F452PFAQ model keeps food perfectly fresh with FRESH Converter+ that optimizes temperature as per food items and never runs out of ice with the Auto Ice Maker.

For households that require larger storage capacity and improved organization, Side‑by‑Side models provide generous interior space, improved visibility, and consistent cooling across compartments.

For more design‑conscious consumers, LG’s Door‑in‑Door refrigerators reduce cold air loss by allowing quick access to frequently used items, supporting both energy efficiency and long‑lasting freshness.

At the premium end, LG continues to innovate with advanced models such as the MoodUP™ refrigerator, which combines customizable aesthetics with functional energy‑saving features like the InstaView panel, allowing users to view contents without opening the door and reducing unnecessary cold air loss. This refrigerator comes with a washing machine as a bundle promotion.

According to LG, this range‑based approach reflects a deep understanding of how Nigerian households differ in size, consumption habits, and lifestyle needs.

“Nigerian consumers are becoming more intentional about how they use energy and manage household costs,” said Mr. Oktai Kim, General Manager, Home Appliance Solutions, LG Electronics Nigeria. “By offering a diverse range of inverter‑powered refrigerators, we are giving families the flexibility to choose solutions that suit their homes while delivering long‑term value through energy efficiency and dependable performance.”

Rather than focusing on technology alone, LG’s energy‑saving refrigerator portfolio emphasizes everyday benefits, efficient operation, reliable cooling, and designs that adapt to real living conditions. Available nationwide, LG refrigerators continue to support smarter living and economic resilience, reinforcing the company’s commitment to delivering durable, consumer‑focused home solutions for Nigerian households.


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