STI reorganises operation for 2014

on   /   in Business 7:18 pm   /   Comments

The management of Sovereign Trust Insurance Plc, STI, has announced the reorganization of its operations for the year in its bid to continually deliver optimal service and enhance its operational efficiency.

According to the company, the development is coming on the heels of the recently concluded management retreat/budget session of the underwriting firm.

To effectively optimise operations in the new financial year, the performance of the company was brought under review while at the same time, x-raying the challenges encountered in the course of the past year with a view to identifying opportunities in the challenges posed and as well chart a positive way forward in 2014.

The company said in its ever-dynamic posture of positively putting to use its robust human resources, has approved the implementation of a new organisational chart for the operations of the company in 2014.

Under the new dispensation, all revenue generating units are now to function under the Marketing and Business Development Division with supervision from the Divisional Head/ General Manager, Ugochi Odemelam while Tolu Fasoranti will be responsible for operations as it relates to Brokers’ business. Tayo Ogundipe takes charge of the operations in the Ikeja Area Office and as well supervise the affairs of all the other three Area offices in Lagos; namely, Apapa, Surulere and Lagos Central.

An Assistant General Manager, Emmanuel Anikibe will now head the retail business department of the company. The eastern offices operations will now be coordinated by the Area Manager based in Port Harcourt, Angela Uche-Onochie, while Muyiwa Awodire, the Head of Ibadan Area Office will monitor the activities of all the branch offices in the western region.

To further ensure actualisation of the organisation’s operational set goals and objectives, the Management has also engaged the services of  an insurance marketer to assist in deepening the growth of the organisation in the Northern Region and subsequently, increase its market share in that clime.

The new addition to the professional team of STI is Mr. Mohammed Bako Alfa, who joins the organisation as Assistant Director/Head, Northern Area Operations. He is saddled with the responsibility of ensuring the development and increasing the company’s public sector business portfolio at the federal level and the supervision of the area and branch offices in the Northern Region. Mohammed Alfa holds the Bachelor of Science, (B.Sc) degree and an MBA in Business Administration from Ahmadu Bello University, Zaria. Mohammed is a Member of the Chartered Insurance Institute of Nigeria, (CIIN) and the Nigerian Institute of Management, (NIM) respectively.

Managing Director/CEO of  STI, Mr. Wale Onaolapo said that the change was necessitated by the need to sustain high level performance, ensure staff optimisation, promote exceptional customer relationship management and most importantly, to grow the company’s balance sheet size meteorically in the New Year and beyond.

He further stated that management will continue to make appropriate changes in the company’s structure and processes to achieve the set goals and objectives while strategically exploiting the under developed areas of the market.   Conclusively, he enjoined the new entrant to judiciously contribute his own quota to the advancement of the STI brand.

The company maintains that it will continually strive to achieve the business objectives, vision and mission of the company in order to remain a major pacesetter in the insurance industry while creating exceptional value for its numerous shareholders home and abroad.

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