The British Standards Institution (BSI) has presented the Business Continuity Management System (BCMS) ISO 22301:2012 certifications to Aiico Insurance Plc, the biggest life insurer in the country.
Speaking during the certificate presentation ceremony in Lagos on Monday, the Managing Director of the company, Mr. David Sobanjo, noted that Aiico Insurance was the first insurance company in African to be awarded the certificate.
He said the certification followed the conclusion of “a long, engaging but rewarding exercise” conducted by representatives of the institute in the company.
The price the company paid for the certification was necessary to ensure that its customers keep receiving top class and consistent services comparable to what obtains in the developed markets, he added.
He recalled that the organisation’s vision was to be an indisputable leader in the Nigerian insurance industry; a feat it has achieved by becoming the first insurance company in the region to gain certification to the BCMS standard ISO 22301.
Speaking on the certification, Sobanjo said, “Following this feat, Aiico Insurance has set the standard for business continuity management in its sector and indeed Africa. This certification recognises the organisation as a compliant business entity, well positioned to provide continuity of service in the event of a business disruption, ensuring that key activities are resumed within agreed timelines.”
“The award attests to Aiico’s resolve to remain the leader in its sector and ensure a sustained business environment that guarantees consistent customer satisfaction.
“The main driver for implementing the ISO 22301 is Aiico’s desire to ensure their preparedness to manage and reduce the impact of any disruptions on their business. The firm felt that an independent third party certification to ISO 22301 would give clients compelling evidence that it takes continuity of service delivery very seriously.
“With the implementation of ISO 22301, Aiico Insurance has increased its resilience, enabling greater continuity of service to its clients. The certification is also a visible demonstration of Aiico’s competence in the insurance sector, leading to increased customer confidence and competitive advantage,” the company’s boss said.
Sobanjo also noted that the process leading to the certification has disseminated BCMS best practice comprehensively across all the company’s operations and staff as well as deepened the understanding of BCMS and embedded a sustainable BCMS culture.
Throwing more light on how the certification came about, Sobanjo said it was the result of a major overhaul in the company’s operations and processes, which came after months of endless process audit and business disruption simulations.
He said the certification also reflected Aiico’s unwavering desire to comply with regulatory, statutory and contractual obligations and reaffirms its resolve to keep striving for greater milestones in sustaining customers’ confidence.
Aiico Insurance prides itself as the largest life insurer in the country which has grown its non-life business significantly in recent years to become one of the major players in the country’s insurance market.
The company also boasts of maintaining a strong affiliation with Chartis group, Zurich insurance, Munich Reinsurance and Swiss Reinsurance among other globally recognised insurance operators of repute.