The wave to deepen insurance penetration is gathering momentum and every arm of the insurance market is raising their banner of commitment signalling total willingness to join the train. That was what the Nigerian Council of Registered Insurance Brokers, did when the executives of the National Association of Insurance and Pension Correspondents paid a courtesy visit to the Council in Yaba, Lagos.
The NCRIB President, Mrs. Bola Onigbogi, said the Council endorses every channel to improve awareness and score more penetration points. Her position fits into vision 2020 which described the Nigerian insurance sector as “a grossly untapped opportunity” with low market penetration. She said that endorsement would translate to a close work with NAIPCO; by this, she said another related issue that needs a fix, the misconception that insurance companies don’t pay claims, would also be steadily erased.
Mrs. Onigbogi, said the growth of insurance industry requires collective efforts, the media, market operators and other stakeholders and this would coalesce into notable GDP growth. She also reiterated the support of the brokers body to NAIPCO intense plan to grow and develop the market.
The Vice President NCRIB, Mr. Tunde Oguntade, reinforcing the council’s high mark for NAIPCO, said, “We have had a cordial relationship with your predecessors and the current executives at NCRIB are ever ready to support you to succeed in all your plans. We need to positively project the industry and we, the brokers are already doing that through our several initiatives.”
The executive secretary Mr. Fatai Adegbenro, was also in the stream of emphasis for the media and the council as critical market stakeholders to work together to grow the industry. He said insurance stands in the lead position in the economy of developed countries and Nigeria should aspire to get to that level and the media as partners, “must give the right information to the people yearning for information.”
Earlier, NAIPCO Chairman, Mr Chuks Okonta, said his tenure is focused on developmental journalism, providing answers to issues affecting the insurance industry through searchlight on the operations of the arms of the industry and their continuing contributions to insurance development.
Also encased in the programme of association is: management, claims, product and company profiling in a manner that gives the public a good grasp of insurance operations in Nigeria. He also mentioned the channels of the association to project the market to include NAIPCO Annual National Conference, Trumpet Journal, Advert To News Initiative among others.