The National Insurance Commission (NAICOM) has announced a major shift toward a stronger performance and accountability culture with the adoption of the globally recognized Objectives and Key Results (OKR) framework. The move was unveiled on Monday during the Commission’s Performance Management Workshop held in Ikot-Ekpene, Akwa Ibom State.
Delivering the opening address on behalf of the Commissioner for Insurance, the Deputy Commissioner (Technical), Dr. Usman Jankara, said the workshop marked a strategic step toward building an institution driven by measurable impact, clarity of purpose and operational excellence.
Jankara emphasized that performance management is fundamental to NAICOM’s mandate and long-term success, stressing that the Commission’s reforms cannot succeed without a robust performance culture across all directorates and departments.
He outlined NAICOM’s five strategic goals: protecting policyholders, strengthening supervisory capacity, ensuring financial stability, promoting innovation, and expanding insurance penetration nationwide. Supporting these goals, he noted, are key priorities such as risk-based supervision, digital transformation, governance reforms, and improved claims management.
To drive execution, Jankara confirmed that NAICOM is formally adopting the OKR model—a performance management tool widely used by high-performing public and private institutions around the world. The OKR system links qualitative objectives with quantifiable key results, ensuring clear alignment between individual tasks and organizational priorities.
“For NAICOM, adoption of OKR will promote alignment and transparency across teams, enable us to focus on outcomes rather than activities, and emphasize impact over profit,” he said. “This is not about punishment; it is about clarity, accountability and continuous improvement.”
He added that every staff member will now have measurable key results aligned with Directorate and Commission-wide objectives, guided by SMART (Specific, Measurable, Achievable, Relevant, Time-bound) principles and global best practices in performance scoring.
Jankara said the Commission expects the new framework to significantly improve regulatory efficiency, enhance consumer confidence through prompt claims settlement, and support broader insurance penetration in line with national economic goals.
He also highlighted the “positive gains” anticipated from the Nigerian Insurance Industry Reform Act (NIIRA) 2025, describing it as a landmark achievement that will reposition the insurance sector as a key pillar of Nigeria’s financial system.
Emphasizing the human factor in NAICOM’s transformation, he urged leaders across the Commission to instill honesty, dedication and commitment among their teams, noting that even the most ambitious strategies would fail without the right organizational culture.
“Reforms alone cannot deliver results. Culture eats strategy for breakfast,” Jankara cautioned. He appealed to staff to support management, drive change and ensure NAICOM becomes a benchmark for regulatory excellence in Africa.
The workshop is expected to provide technical guidance on OKR implementation and equip staff with tools needed to align their work with the Commission’s strategic priorities.
