Consolidated Hallmark Insurance(CHI) Plc, as part of its Corporate Social Responsibility (CSR), has rewarded three winners of its yearly National Essay Competition, in efforts to increase insurance education and awareness across the country.
The competition saw Mr. Olumodeji Damilola from the Insurance Department of the Lagos State Polytechnic (LASPOTECH) emerge the winner of the 2017 edition, with a prize of N250,000 and an opportunity of getting employed by the insurer after graduation.
Similarly, Mr. Onyeneke Chukwuemeka from the Insurance Department of Imo State University emerged second and rewarded with N150,000, while Mr. Asunlegan Babatunde from LASPOTECH, came third with a prize of N100,000.The Chairperson of the Award Committee, Mrs. Dotun Adeogun, said the topic for the 2017 edition, titled “The impact of digitalization on marketing of insurance services”, was sent to 15 tertiary institutions offering Insurance across the country to submit entries for the award.
She disclosed that 20 entries were received from 10 schools through the Departmental Heads of these tertiary institutions, who collated and submitted the best entries from their respective schools.
The assessment process, she said, has assessors drawn from vital segments of the insurance industry– broking, underwriting, regulatory and the media, in an attempt to ensure a very objective outcome.Stating that the assessment is in two levels, she noted that the first level was the students’ departmental assessment panel constituted by their Head of Departments (HODs), which usually forward the best three entries to the company.
The second level of assessment, according to her, is usually done by an independent panel of distinguished insurance practitioners constituted by the company, noting that this panel graded the best entries received from the various institutions, while average scores were arrived at to determine the winners in the three categories.
The Managing Director/Chief Executive Officer of CHI, Eddie Efekoha,said the competition is part of the company’s contribution to the overall insurance industry’s awareness creation.
The competition, he said, commenced with the maiden edition in 2011, based on the insurer’s belief in developing talents and expanding the industry knowledge, while encouraging research. Efekoha, who is also the President, Chartered Insurance Institute of Nigeria (CIIN), said the topic of the competition is quite appropriate in view of the increasing pull of corporate organisations.to the new media channels for payments and primary source of information.
The insurance industry, he stressed, cannot but tap into rapidly unfolding cashless society.Earlier, the Director-General, CIIN, Richard Borokini, and Director-General, Nigerian Insurers Association (NIA), Mrs. Yetunde Ilori, applauded the management of Consolidated Hallmark for this initiative, stating that this will spread the gospel of insurance, while deepening insurance education among students, in the long run.