By Chiamaka Ajeamo
The Governing Board of National Insurance Commission (NAICOM) has approved its 2021 to 2023 corporate strategic plan.
The spokesperson of NAICOM, Rasaaq Salami, said the approval became necessary as NAICOM’s plan for 2016 to 2020 ended last year, adding that the Commission is now implementing the new approved plan.
According to NAICOM, the strategic plan was established with the objective of translating the Commission’s vision, mission and values into actionable and measurable goals, objectives, initiatives and activities.
The Commission further said the strategic plan will provide direction for both long and short term decision-making by the Board for implementation by senior management in order to fulfil the mission of the organisation.
Similarly, it will enable them to make strategic efforts in ensuring adequate protection of the policyholders, beneficiaries and third parties to insurance contracts and also deepen insurance market penetration, it noted.
NAICOM said its Board will ensure periodic review and performance monitoring of the strategic plan within its life span.