College of Insurance

College of Insurance and Financial Management (CIFM)

The College of Insurance and Financial Management (CIFM) is a full-fledged college set up by the Chartered Insurance Institute of Nigeria (CIIN) to understake its training function. The center provides in-depth training in insurance, financial management, marketing and other related fields

Our Objectives

The main objective for which the College was established is to provide long lasting solutions to manpower training and development problems of the insurance industry in Nigeria.

  • Continuous identification of the manpower needs of the Nigerian insurance industry and providing training in such areas
  • To form a pool of experts, teachers and trainers at the national and international level for teaching risk management, insurance and financial management.
  • To develop and design various insurance training modules, books and course materials.
  • To conduct mandatory training programmes for various insurance industry personnel.
  • To conduct short term training in insurance, financial management and related fields for personnel in the financial sector
  • To conduct diploma courses in insurance, financial management and risk management.
  • To conduct seminars, synposiums, conferences and panel discussions on the financial industry especially the insurance sector
  • To contribute economically and socially to the economy through solution-focused research activities in collaboration with the industry regulators, federal agencies and other institutions of higher learning in area of insurance and financial management.
  • The publication of books, journals and magazines on insurance, risk management and financial management.
  • To collaborate with the Chartered Insurance Institute (London) and other insurance institutes internationally to fulfil the mission of the college.
  • To develop a linkage programme that affods graduates from the college access to higher education in insurance locally and internationally.
  • To promote the awareness of insurance practice and its benefits to socio-economic wellbeing through awareness seminars.
  • To obtain membership of international associations like the Association of African Insurance Educators and Trainers (AAIET) and the Insitute for Global Insurance Education (IGIE) to ensure that our training progams are of international standards.

Academic Programmes

Induction Courses 

This is an introductory course for new recruits in insurance industry. The objective of this programme is to provide a unified platform for the training of new recruits in the industry particularly the non-insurance graduates. The scope of the course goes beyond technical insurance training in life and non-life products to include training in finance, accounting, budgeting, reinsurance, interpersonal skills, business communication and more. This programme is designed to meet the training needs of insurance companies for their new recruits especially the non-insurance graduates. The College would offer this programme both on-campus and off-campus for insurance companies who desire such. The duration of the course is two weeks followed by an assessment which requires a 70% pass mark.

Technical Courses 

These are in the form of seminars, workshop or practical training events. These courses aim at providing intense training in the various aspects of insurance and financial management with particular focus on critical areas in the industry such as:

  • IFRS and the Nigerian Insurance Industry
  • Enterprise Risk Management
  • Micro Insurance
  • Islam Finance/Takaful Insurance
  • Managing Risk and Capital Adequacy
  • E-Marketing in Insurance
  • Understanding Actuarial Valuation
  • Challenges of No Premium No Cover

These technical courses are targeted at staff of insurance companies in various departments such as the underwriting, marketing and accounting. It would usually be for a duration of two to three days.

Certificate Course in Insurance 

These are part time, weekend only and Distance Learning courses in insurance and financial management. It would offer specialised training in specific subjects relating to insurance and financial management. The aim is to develop manpower in those areas of the insurance and financial sector where there is a dearth of human resources. Students enrolled on these courses would receive intense training from experts that is commensurate with international standards. It also involves seminar presentations and case studies in the individual areas. This programme is targeted at insurance practitioners that desire certified training in emerging subsectors in the insurance and finance industry. The duration of the certificate courses is between six and nine months and areas of specialisation include:

  • Certificate in Risk Management
  • Certificate in Life Assurance Underwriting and Marketing
  • Certificate in Islamic Finance and Takaful Underwriting
  • Certificate in Pensions and Annuity Underwriting
  • Certificate in Insurance Financial Accounting
  • Certificate in Actuarial Valuations
  • Certificate in Insurance Marketing

CIFM Diploma in Insurance

This is a full time residential programme for both insurance and non-insurance graduates desirous of a career in the insurance industry. The programme is geared towards the attainment of professionalism.Hence, various aspects of insurance practise, insurance law, accounting and financial management would be taught. These courses would cover the curriculum for the professional exams of various insurance institutes. The facilitators would include both academicians and practitioners within the industry. The duration of the programme is nine (9) months consisting of two semesters. Success in examinations and project works would be conditions precedent to the award of this Diploma and 6 exemptions for the CIIN professional exams. Those are in all levels, i.e. Certificate, Diploma and Advanced Diploma levels.

Insurance Foundation Diploma

This is a one year diploma course designed to enable Secondary School Certificate Examinations (SSCE) holders gain admission into tertiary insitutions offering insurance degree programs. Students who are unable to gain university admission through JAMB Unified Tertiary Matriculation Examination (UTME) would do so through JAMB Direct Entry (DE) upon the completion of the foundation programme. The foundation programme is designed to provide alternative admission platforms for students while also mitigating against the problems of low enrolment levels for the degree programmes in insurance in many Nigerian universities. Therefore, the College already has some universities collaborating and partnering on this programme. The foundation diploma is based on the National Universities Commission’s (NUC) and various universities’ minimum requirements for 100 level students in Insurance. Successful completion of the programme with a good Cumulative Grade Point Average (CGPA) would facilitate direct entry into our collaborating universities.

The college has a lot to offer and would be pivotal to the development of human capital not only in the insurance industry but in the financial sector as a whole. It would make huge contributions to the growth of the Nigerian insurnace industry and the economy at large.

Contact Information

College of Insurance and Financial Management

KM 40 Lagos-Ibadan Expressway, Asese Village

Ogun State, Nigeria Email:

info.cifm@gmail.com