The Chartered Insurance Institute of Nigeria (CIIN) has called on insurance professionals to rethink conventional approaches and embrace significant changes to ensure the industry remains resilient and relevant in a changing economic environment.
The President of the institute, Akinjide Orimolade, FIIN, made the call during his opening address at the 2026 Insurance Professionals’ Forum held at the June 12 Cultural Centre in Kuto, Abeokuta, Ogun State.
The forum, which brought together insurance professionals, regulators and other stakeholders, was held under the theme, “The Economics of Risk: Sustaining a Resilient Insurance Industry.”
Orimolade said prevailing economic conditions required insurance operators to move beyond traditional approaches and develop strategies capable of responding to emerging risks and changing market realities.
He urged industry professionals to challenge outdated practices, explore new opportunities and adopt innovative approaches that could strengthen the sector’s long-term sustainability.
According to him, resilience in the insurance industry would require a combination of strategic planning, digital transformation and stronger professional standards.
He noted that insurance plays an important role in supporting economic stability by helping businesses manage risks, maintain operations and recover from unexpected disruptions.
The CIIN president stressed that the sector’s contribution to the broader economy could be strengthened when operators become more responsive to emerging risks and changing customer expectations.
The forum was attended by Ogun State Governor, Prince Dapo Abiodun, alongside senior representatives of financial regulatory institutions and other stakeholders in the insurance industry.
Discussions at the event focused on the relationship between economic conditions and risk, as well as the measures required to build a stronger and more adaptable insurance sector.
Orimolade’s call places innovation, digital agility and professional development at the centre of efforts to reposition Nigeria’s insurance industry amid evolving economic and operational challenges.
