Ijebu-Ode (Ogun) - Mrs. Cecilia Osipitan, the Managing Director of Insurance PHB, says only a quantum leap in the number of those insured in Nigeria would make the sector’s reform exercise meaningful.
She said this in Ijebu-Ode on Friday while delivering a lecture on the insurance industry and the media.
The forum was the insurance correspondents retreat organised by the Chartered Insurance Institute of Nigeria (CIIN).
Osipitan said the leap could be achieved through an awareness campaign to educate the populace on how insurance affects individual and group economic growth.
‘’ Across the globe, people naturally do not imbibe the culture of insurance unless educated and convinced about the need to protect what they have.
Osipitan, who was represented by Mr. Adegboyega Adepegba, the CIIN Director-General, said the industry in collaboration with the media, must take awareness seriously.
She said insurance succeeded in India because efforts were made through an awareness campaign to educate the population.
‘’ Even insurers in the advanced countries still make out time to educate the insuring public and potential insurers on what is new and better approaches to utilising insurance services,’’ she said
Operators, she said, must create a purposeful package that would increase the visibility of the industry and players in the country.
Also speaking, Mr. Fatai Lawal, the Managing Director of Sterling Assurance Nigeria Limited, said the media should access accurate information on the industry.
This, he said, would be achieved if journalists make friends with operators in the industry.
Lawal, who was represented by Mr Jide Akingbade, Sterling’s Executive Director, Business Development, said the awareness campaign must be joint effort of both operators and the media.
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