In theory NSITF carries enormous responsibilities, but the verdict of the jury out there on the performance of NSIFT is mixed. One undisputable fact, however, is that NSITF has not realized its enormous potentials. Various reasons are responsible for the underachievement of NSITF, but past leaderships cannot exonerate themselves from blame.
Prince Isire is one of us in the insurance fraternity. A chartered accountant, he has practiced insurance for over 25 years. He started in reinsurance before moving to insurance and was for 12 years the managing director/chief executive of a life assurance firm. He is in a familiar territory. Isire has his job cut out for him. As chairman of the board, his responsibilities include effectively implementingPart 1.
Prompt claims payment is the catch phrase and Isire, as a private sector insurance practitioner of over 25 years, knows that too well. What is NSITF current turnaround time on payment of benefits to contributors who make claim? Is it comparable to that of the privately-run insurance institutions? If not, how can Isire-led board speed up the process and catch up with other insurance institutions?NSITF painted a glorious picture on its website, but the general perception is different.
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