Connect with us

General News

STI Trains personnel for Quality Service Delivery

Published

on

Kindly share this post

Sovereign Trust Insurance Plc has once again reiterated its uncompromising stance on continuous manpower development as the basis for sustainable operational efficiency and business profitability. The management has identified this as the key critical factor for providing enhanced and seamless insurance service delivery to all policyholders under the stable of the organization.
According to the Head of Training and Human Capital Development, Dr. Jason Enwefah, “the company is not resting on its oars in ensuring that every employee in the system is adequately trained and developed to cope with the dynamics of the modern trends that are likely to emerge in this decade in the insurance and financial services in Nigeria”.
He made this assertion at one of the training sessions organized for members of staff in the western area of the company’s operational base. Marketers and underwriters from the area, which comprises Ogun, Ondo, Oyo, Ado-Ekiti, Akure and Edo States, were brought together for three days under intense classroom sessions to update their knowledge about the business and the likely trends that might ensue as the decade progresses. Earlier in the year, members of staff in the Head office and other area offices in Lagos were engaged in similar exercise.
The Head of training and human capital development of the company explained that the training had become very imperative going by the recent market development and restructuring initiative (MDRI), instituted at the instance of the National Insurance Commission ( NAICOM). “We have identified the enormous opportunities embedded in the market development initiative and that of the compulsory insurances and the most logical thing to do at this point is to take advantage of the opportunities created by the regulatory Authourity”
 He added that in exploring the opportunities, they do not want to also lose sight of the professional implications and risk management issues involved which is why “we have taken time out to educate and upgrade the knowledge base of our personnel who are critical to the operations of our business” he  said.
Enwefah explained that Observers would have noticed in theirs recently published claims compensation profile for the company in 2009 that the figures paid on claims in the last operational year, was much lower than that paid in 2008. The total figure paid on claims in 2009 was Five hundred and ninety-two million, one hundred and twenty five thousand, nine hundred and twenty-five naira, thirty-six kobo, while seven hundred and seventy-one million, nine hundred and thirty-eight thousand, six hundred and fifty-four naira, thirty-six kobo was paid on claims in 2008.
Using the baseline of claims paid in 2008, he stressed that it was evidently clear that the company to a great extent managed her underwriting risks very well. This might not be unconnected with the improved risks management strategy that has been put in place. A juxtaposition of the 2008 and 2009 figures shows a 23% claims reduction rate for the company. These analysts have said portend great opportunities for the company if the trend can be sustained or better improved upon in the years ahead.
According to STI head of claims, Mr. Emmanuel Anikibe, “we have been able to reduce our claims profile significantly well in 2009 due to the efforts of the management in ensuring that personnel in the claims department are adequately equipped and well-informed with the modern trends of risk management through constant manpower development program that the company has instituted.”
Attesting to this, the Divisional head, marketing and relationship management, Mrs. Ugochi Odemelam stated that, there has been a better understanding between marketers and underwriters within the organization regarding the kind of businesses to be booked after all necessary evaluations have been made.
Last year, the company enrolled four members of the senior management staff at the Lagos Business School for the senior management program (SMP) and the advanced management program (AMP) respectively. In the same vein, some members of staff were sent abroad on different courses relating to their areas of operations in the organization. Beneficiaries were drawn from the risk management department, corporate services, finance and investment, technical and marketing and relationship management.

 


Kindly share this post

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

Continue Reading
Advertisement
Comments

General News

Haleon Introduces New Corporate Identity in Nigeria

Published

on

Kindly share this post

Haleon, a global consumer health company with a purpose to deliver better everyday health, is introducing its corporate identity across Nigeria in a phased transition. Trusted brands such as Panadol, Sensodyne, Macleans, Otrivin, Voltaren, Cac 1000 and Andrews Liver Salts remain unchanged in formulation, quality, and effectiveness.

Following the formal demerger from GSK, Haleon was launched on July 18, 2022, as an independent company 100% focused on consumer health. Haleon is the new home for brands like Sensodyne, Panadol, Centrum and others, trusted by millions worldwide for their proven effectiveness in improving everyday health.

From relieving tooth sensitivity or pain to providing essential vitamins and nutrients, our products are designed to fulfil Haleon’s purpose: to deliver better everyday health with humanity.

This revised corporate identity is a branding change only and does not affect the safety, quality, or efficacy of the products. Haleon is sharing this update as part of its commitment to transparency and consumer confidence, helping consumers continue to choose the brands they know and trust.

Haleon’s collaboration with Fidson Healthcare forms part of this approach, reinforcing the value of local production in supporting trusted everyday health brands in Nigeria.

Panadol Extra 100s and Panadol Pain & Fever 100s are currently being produced and supplied to the market under the Haleon identity. Sensodyne Rapid Action will bear the Haleon corporate identity from mid-June, followed by Andrews Liver Salts later this year.

In due course, additional brands—including Otrivin, Voltaren, Cac 1000, Macleans, and the wider Sensodyne portfolio—will also transition to the Haleon identity.

Haleon remains committed to ensuring consumers can continue to access the same high-quality brands at pharmacies, supermarkets and other retail outlets across Nigeria.

“As Haleon introduces its identity in Nigeria, we want consumers to feel informed and reassured. The trusted products they rely on remain the same in quality, formulation and effectiveness.

“At the same time, our local production approach in partnership with Fidson Healthcare supports reliable access to high-quality everyday health products in Nigeria,” said Himanshu Raj, Haleon General Manager for Sub-Saharan Africa.

 


Kindly share this post
Continue Reading

General News

Elon Musk Makes History as the World’s First Trillionaire

Published

on

Kindly share this post

Tech entrepreneur and SpaceX founder, Elon Musk, has become the world’s first trillionaire after the successful public listing of SpaceX pushed his net worth beyond the $1 trillion mark.

Elon Musk Makes History as the World’s First Trillionaire

Elon Musk

According to multiple financial reports, Musk’s fortune surged to approximately $1.1 trillion following SpaceX’s historic stock market debut on June 12, making him the first individual in history to achieve the milestone.

The sharp increase in wealth was driven primarily by SpaceX’s initial public offering (IPO), which valued the company at more than $1.7 trillion at listing before rising above $2 trillion during its first day of trading. Musk’s holdings in SpaceX, combined with his stakes in Tesla and other ventures, significantly boosted his net worth.

Musk, 54, is also the founder or co-founder of companies including Tesla, SpaceX, Neuralink and The Boring Company. He acquired social media platform X, formerly Twitter, in a $44 billion deal and has remained one of the most influential figures in technology and business.

Financial analysts noted that Musk’s wealth now far exceeds that of any other billionaire.

Matt Durot, deputy editor at Forbes Wealth, said the gap between Musk and the world’s second-richest individual had widened significantly, with no other person currently close to the trillion-dollar threshold.

Despite the historic achievement, Musk’s vast wealth has reignited debates over global inequality and the responsibilities of ultra-wealthy individuals in addressing humanitarian challenges.

Advocacy groups have frequently pointed to issues such as hunger, disease eradication and access to education as areas where large-scale private philanthropy could make a significant impact.

In 2021, Musk publicly challenged the United Nations to provide a detailed plan showing how billions of dollars could help combat world hunger. Although a proposal was later presented, no donation followed.

Analysts note that much of Musk’s wealth remains tied to company shares rather than liquid cash, meaning his net worth can fluctuate significantly with market movements.

Nevertheless, the SpaceX IPO marks a historic moment in global finance, placing Musk in a wealth category previously considered unimaginable.

Commenting on Musk’s business achievements, Jamie Dimon, chief executive officer of JPMorgan Chase, described him as “the Edison of our time.”

Musk’s rise from co-founding internet startup Zip2 in the 1990s to becoming the world’s first trillionaire is regarded by many analysts as one of the most remarkable wealth creation stories in modern history.


Kindly share this post
Continue Reading

General News

Kaspersky Warns of “Grey” Scam Websites Exploiting User Trust

Published

on

Kindly share this post

Recent research by Kaspersky has shown that the so-called “grey” websites repeatedly target all world regions, and this may be driving both financial loss and large-scale data harvesting.

Grey websites are deceptive online platforms that fall outside traditional phishing definitions but still manipulate users into voluntarily handing over money and personal data. Kaspersky’s new report provides detailed insights into the threats posed by the grey websites on global and regional levels.

Unlike classic phishing attacks, which aim to steal credentials outright, grey websites rely on persuasion, misleading interfaces, and hidden terms to exploit users. They often impersonate legitimate services such as e-commerce platforms, financial tools, AI services, or subscription-based content, making them significantly harder to detect.

Kaspersky analysis shows that the majority of suspicious resources globally fall into several recurring categories:

  • Fake browser extensions and “security tools” that actually harvest browsing data and track user activity.
  • Fraudulent financial platforms including crypto exchanges, trading tools, and investment schemes promising unrealistic returns.
  • Intermediary services (e.g., legal or real estate), charging for low-value or nonexistent services while harvesting sensitive personal data.
  • Subscription traps offering low-cost trials that convert into costly recurring payments hidden in fine print.
  • Fake online shops that either deliver counterfeit goods or nothing at all.

Example of a grey website.

A notable trend is the emergence of tools disguised as AI services or image-processing platforms, reflecting attackers’ ability to adapt to current digital trends and target younger audiences.

There are proven security solutions that help users to detect grey websites across different types of devices – those running on Windows, Linux, Android and iOS. The detection model is based on many factors, including domain name and age, IP reputation, stability of the infrastructure used, DNS configurations, HTTP security headers, digital identity and popularity of the web resource and other criteria.

Regional specifics

Regional variations in grey websites demonstrate how threat actors localise scams based on user behaviour and trending technologies.

In Europe, the threat landscape is dominated by links to suspicious browser extensions and fake “privacy-enhancing” tools.

These resources often present themselves as security solutions, promising safer browsing or anonymous search capabilities. In reality, they function as browser hijackers – intercepting traffic, collecting cookies, tracking user behaviour, and injecting advertisements.

The popularity of these threats reflects a high level of user concern around privacy and security, which attackers actively exploit. Additionally, these regions show a steady presence of phishing intermediaries and crypto-related scams, indicating a blend of technical and financially motivated attacks.

Across African markets, financial scams are the most prominent category of suspicious resources. Fraudulent trading platforms, fake brokers, and investment schemes frequently mimic legitimate financial services, often accompanied by fabricated licenses or endorsements.

These platforms typically prevent users from withdrawing funds, instead introducing additional “fees” or taxes to prolong the scam. The concentration of these threats highlights how attackers leverage growing interest in online investing while exploiting gaps in regulatory enforcement and financial literacy.

In the Middle East and North Africa region, suspicious resources frequently mimic communication (Internet telephony) tools, financial platforms, or betting services. Additionally, Ponzi-style investment schemes and crypto scams are widespread, often presented through polished interfaces that mimic legitimate platforms.

Web browser-based threats also play a significant role, with malicious extensions targeting user data and browsing activity. The regional threat profile reflects a convergence of financial fraud and technical compromise, where users risk both data exposure and monetary loss.

“Suspicious websites don’t look harmful at first glance. But they exploit trust, urgency, and familiarity, and a single click on what looks like a harmless AI image tool, a “secure” browser extension, or a heavily discounted online shop could be all it takes to lose money or expose sensitive data.

Instead of direct credential theft, attackers turn to behavioural manipulation – whether that’s subscribing, investing, or installing software,” comments Anna Larkina, Web Content and Privacy Analysis Expert at Kaspersky.

 


Kindly share this post
Continue Reading

Trending