NIGERIAN MILITARY JET CRASHES IN NIGER. (PHOTO).
The National Insurance Commission (NAICOM) has officially adopted the Objectives and Key Results (OKR) framework to enhance performance management, regulatory efficiency, and accountability. Deputy Commissioner (Technical), Dr. Usman Jankara, announced the move during a performance management workshop, describing OKR as a results-driven model that aligns qualitative goals with measurable outcomes.
Dr. Jankara emphasized that the OKR system will foster transparency, outcome-focused operations, and team alignment across NAICOM. Staff will apply SMART principles—Specific, Measurable, Achievable, Relevant, and Time-bound—to guide performance indicators and maintain global standards.
The framework is designed to support growth and continuous improvement, not punishment. Expected outcomes include:
- Full alignment between departmental goals and NAICOM’s strategic priorities
- Improved regulatory efficiency through risk-based supervision and digital transformation
- Stronger consumer confidence via prompt claims settlement
- Expanded insurance penetration to support Nigeria’s economic development
NAICOM’s five strategic goals include protecting policyholders, strengthening supervision, safeguarding financial stability, promoting innovation, and expanding access to insurance. These are supported by broader objectives like governance excellence and effective claims management.
Dr. Jankara also highlighted the Nigerian Insurance Industry Reform Act (NIIRA) 2025 as a landmark step toward repositioning the sector. He called for internal culture change, urging leaders to instill integrity, discipline, and dedication across teams to ensure the success of the reforms.
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