The National Insurance Commission (NAICOM) has introduced the globally recognised Objectives and Key Results (OKR) model as part of a renewed drive to strengthen performance management, deepen accountability, and boost confidence in the insurance sector.
The Deputy Commissioner for Technical, Dr. Usman Jankara, announced the adoption at a recent performance management workshop in Abuja.
He described the OKR model as a results-driven system that links clear objectives with measurable indicators. He said that the approach simplifies goal-setting by stating what an organisation intends to achieve and defining success through quantifiable outcomes.
According to him, NAICOM is adopting the framework to promote alignment and transparency across its teams. He explained that the system encourages a shift from activities to outcomes and fits mission-driven organisations like NAICOM because it focuses on impact rather than profit.
Dr. Jankara said that the new framework would ensure that every staff member has defined performance indicators that reflect the priorities of their directorates and the commission. He advised staff to apply the SMART principles to support measurable results and maintain global standards during evaluations.
He stressed that the OKR system is not designed as a punitive measure. He said that the system aims to support clarity, growth, and continuous improvement for the organisation and its workforce.
Speaking on expected outcomes, Dr. Jankara said that NAICOM anticipates stronger alignment between departmental goals and the commission’s strategic aims. He projected improved regulatory efficiency through risk-based supervision and digital transformation, enhanced consumer trust through prompt claims settlement, and deeper insurance penetration to support national economic objectives.
He outlined five strategic goals guiding the commission. They include protecting policyholders and restoring confidence in the insurance sector, strengthening supervisory capacity, safeguarding financial stability, promoting innovation and sustainability, and expanding insurance penetration nationwide. He noted that these goals rest on broader objectives such as digital transformation, governance excellence, and effective claims management.
Dr. Jankara also highlighted the critical role of staff in delivering the commission’s mandate. He urged leaders to promote integrity, discipline, and dedication across their teams. He said that NAICOM’s success depends on the honesty and commitment of its personnel and warned that no strategy can succeed without these values.
He also spoke on the Nigerian Insurance Industry Reform Act 2025. He described it as a landmark achievement that would reposition the industry as a key pillar of Nigeria’s financial system.
Dr. Jankara closed with a call for a renewed internal culture. He said that reforms alone cannot deliver results without a strong culture of excellence and accountability across the commission.
