NAICOM adopts OKR framework to strengthen performance culture

The National Insurance Commission (NAICOM) has announced the adoption of the globally recognised Objectives and Key Results (OKR) framework as part of its drive to strengthen performance management, enhance regulatory efficiency, and deepen accountability within the organisation.

The Deputy Commissioner (Technical), Dr. Usman Jankara, made the disclosure at a performance management workshop, where he explained that OKR is a results-oriented system that links qualitative objectives with measurable outcomes.

He described it as a model that simplifies goal-setting by defining what an organisation intends to achieve and determining success through quantifiable indicators.

“For NAICOM, adoption of OKR will promote alignment and transparency across teams, enable us to focus on outcomes, not activities, and most importantly, it is ideal for mission-driven, non-profit organizations like NAICOM because it emphasizes impact over profit,” he said.

Dr. Jankara noted that the Commission’s shift toward the OKR model is expected to ensure that every staff member has clearly defined performance indicators that align with the broader objectives of their directorates and the Commission.

According to him, staff may apply the SMART principles—Specific, Measurable, Achievable, Relevant, and Time-bound—to guide measurable results and maintain global standards in scoring and evaluation.

He clarified that the new system is designed to support growth rather than penalise anyone. “This is not about punishment; it is about clarity, accountability, and continuous improvement,” he stated.

Speaking on the expected outcomes of the new framework, Dr. Jankara said the Commission anticipates full alignment between departmental goals and NAICOM’s strategic priorities, improved regulatory efficiency through risk-based supervision and digital transformation, stronger consumer confidence driven by prompt claims settlement, and increased insurance penetration to support Nigeria’s economic aspirations.

He also outlined NAICOM’s five strategic goals, which include protecting policyholders and rebuilding confidence in the insurance sector; strengthening supervisory capacity; safeguarding financial stability; promoting innovation and sustainability in insurance operations; and expanding insurance penetration nationwide. He noted that these goals are supported by broader objectives such as digital transformation, governance excellence, and effective claims management.

Describing the central role of personnel in the Commission’s success, Dr. Jankara urged leaders within the organisation to cultivate integrity, dedication, and discipline across their teams. “NAICOM is a service organization. People can make or mar it. Our success depends on the honesty, dedication, and commitment of every leader here, and of the teams you lead. There is therefore a need to instill these virtues among your subordinates. Without them, no strategy will succeed,” he said.

Turning to the Nigerian Insurance Industry Reform Act (NIIRA) 2025, he described it as a major step forward for the insurance sector. “The Nigerian Insurance Industry Reform Act (NIIRA) 2025 is a landmark achievement. Management will not rest until these reforms reposition the industry as a pillar of Nigeria’s financial system,” he said.

Dr. Jankara concluded with a call to action, stressing the need for internal culture change to drive the objectives of the new system and broader sector reforms.

“Reforms alone cannot deliver results. Culture eats strategy for breakfast. We must enthrone a culture of excellence and accountability,” he told NAICOM staff.

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