AIICO Insurance bags BSI certification for Information Security Management

AIICO Insurance Plc on Thursday received Information Security Management System certification from the British Standards Institution (BSI) under ISO 27001:2013 standard.

It becomes the first insurer in Nigeria to get such certification.

Ms Chimwemwe Chalemera, Country Director, Department of International Trade (DTI)/representative of BSI, presented the certification to the insurer officially in Lagos.

Chalemera said that AIICO was awarded the certificate after a thorough assessment of its information security management system by BSI.

Our correspondent reports that the BSI standard is the highest international standard for information security management.

It is a globally recognized information security standard developed and maintained by the International Organisation for Standardisation (ISO).

The certification represents high information security standards that provide a wide range of requirements for information security management systems.

Information security management defines and manages controls that an organisation needs to implement to ensure that it is protecting the confidentiality, availability, and integrity of its assets.

The Country Director explained that to achieve certification to this standard, an organisation must show a continuous, structured commitment towards assessing security risks and managing sensitive information.

Chalemera said that the company must also ensure a holistic plan is in place to respond to any potential disruptions.

“AIICO Insurance is clearly demonstrating that they are operating at this level and have not just been paying lip service to information security management, but it is something that is embedded in every aspect of its business.

“This is really key to gaining client and customer confidence that their information and data is well-managed and protected and that will in no doubt position the insurance firm well for continued growth.

“Congratulations to the whole team on fulfilling the requirements of this certification and for your ongoing commitment to continual improvement and excellence,” she said.

In his address, the Managing Director/CEO, AIICO Insurance, Mr Babatunde Fajemirokun, said that the firm was taking conscious steps towards the fulfilment of its vision of being the dominant insurer in Sub-Saharan Africa, leveraging technology.

“While investing substantially in technology, we are also mindful of the associated risks and leaving no stone unturned for effective risk management; this is the reason we subjected our systems to BSI’s assessment.

“Our valued customers and other stakeholders stand to benefit more from this endeavour,” he said.

According to him, It has become an absolute necessity for corporate entities to protect their assets in view of the ever-increasing cyber-security threats and vulnerabilities that are ravaging the world and resulting in significant losses.

Fajemirokun noted that the implementation of the certification was towards a sustainable approach to business continuity.

He said it was reinforcing the company’s resilience against attacks and strengthening its ability to continue to fulfil its obligations now and in the future.

Fajemirokun said that AIICO was at the forefront of digital innovation with numerous technology-enabled business solutions.

He said that the company was able to continue its business uninterrupted during the pandemic lockdown with the use of technology and invoking its Business Continuity Management System, ISO 22301 certified by the BSI.

According to him, the insurer recently launched an artificial intelligence chatbot, Ella, to aid 24/7 interactions with customers via WhatsApp, Facebook.

AIICO’s Chief Risk Officer, Mr Abiodun Adebanjo, stated that the company considered the certification as a reward for the collective efforts that had gone into embedding the information security risk management culture within the entire organisation.

Adebanjo said that the certification was also a reflection of the premium the underwriter placed on protecting its customers and business data.

He said: ”With this certification, we have taken the necessary and needed steps to protect the company’s priority information from data breaches, unauthorised access, and other disruptive data security threats to our stakeholders’ data.

”All hands are on deck, and we will continue to improve and adapt to changing circumstances with the goal of providing adequate and sustainable protection to our information assets,” he said.