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NCRIB Strives To Increase Insurance Industry’s Contribution To GDP 

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The Nigerian Council of Registered Insurance Brokers (NCRIB) has promised to continue partnering with journalists so as to deepen the level of insurance penetration in the country, as well as increase the industry’s contribution to the nation’s Gross Domestic Product (GDP).
restated its commitment to increasing insurance awareness and senstitisation exercise, in a bid to deepen penetration in the country.
 
NCRIB president, Mrs. Bola Onigbogi, gave this assurance when the new executives of the National Association of Insurance and Pension Correspondents (NAIPCO) paid a courtesy visit to the council in Lagos recently.
 
She lamented that majority of Nigerians are still ignorant of the benefits they can derive by embracing insurance, while some still habour the misconception that insurance companies don’t pay  claims. Concerted efforts, she noted, must be made to reverse the trend.
 
She pointed out that the growth of insurance industry requires collective efforts, noting that the media is critical and an important stakeholder in the journey to develop the insurance segment of the nation’s economy.
 
While appreciating the efforts of NAIPCO members in their drive to educate Nigerians through their informed write-ups and news reporting, she urged them to be positive in reporting as the death of the industry will also negatively reflect on the reporters covering the sector.
 
She applauded the current executives for embarking on series of projects aimed at complementing the efforts of Insurance companies and brokers to deepen Insurance penetration and acceptance, promising that, the council will, just as it has done in the past, continue to support the association in its plans to grow and develop the sector.
 
Similarly, the vice president, NCRIB, Mr. Tunde Oguntade, said, the relationship between the council and the media, especially, insurance correspondents, has always been positive, promising to extend such gesture to the current executives of NAIPCO, so that, together, they can grow the industry.
“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,” he pointed out.
Moreover, the executive secretary, NCRIB, Mr. Fatai Adegbenro, said both the media and the council are critical stakeholders and must together work to grow the industry.
 
Insurance, he said, drives the economy in advanced countries, stating that, this is a point Nigeria must aspire to be, through increased contribution to the nation’s GDP, saying, “we are all stakeholders in the industry and the public tends to believe anything that comes from the media, hence, the need to throw caution, so as not to feed the public with lies or hearsay. The role of journalists is to inform and we must give the right information to the people yearning for information.”
 
Earlier, the president, NAIPCO, Mr. Chuks Udo Okonta, said, his administration is embarking on developmental journalism, which involves providing critical answers to issues affecting the insurance industry.
 
The motive of this style of journalism, he stressed, is to grow the sector through increased searchlights on the operations of Insurance companies, brokers and other players to ensure that they are playing their respective roles effectively.
 
On Company Profiling, a product of the current administration, he said, the association will profile  the management, claims or/and product of an underwriting firm, write about it in the most subtle language and human angle perspective to ensure the public truly understands the operations of insurance companies in the country.
 
Similarly, he listed other programmes of the association, which includes: the NAIPCO Annual National Conference, Trumpet Journal, Advert To News Initiative(ATN), among others. Insurance Awareness

The Nigerian Council of Registered Insurance Brokers (NCRIB) has restated its commitment to increasing insurance awareness and senstitisation exercise, in a bid to deepen penetration in the country.

Speaking during a courtesy visit of the new executives of the National Association of Insurance and Pension Correspondents (NAIPCO) to the council’s headquarter in Alagomeji, Yaba, Lagos, its president, Mrs. Bola Onigbogi, promised to work with the new executives of NAIPCO to increase insurance acceptance as well as its contribution to the nation’s Gross Domestic Product(GDP).

According to her, a lot of Nigerians are still ignorant of what values insurance can bring to their respective lives, while some still habour the misconception that insurance companies don’t pay claims, hence, the need to drive awareness and education from the media perspective to change this narrative.

She believes that the growth of insurance industry requires collective efforts, saying, the media is critical and an important stakeholder in the journey to develop the insurance segment of the nation’s economy.

While appreciating the efforts of NAIPCO members in their drive to educate Nigerians through their informed write-ups and news reporting, she urged them to be positive in reporting as the death of the industry will also negatively reflect on the reporters covering the sector.

She applauded the current executives for embarking on series of projects aimed at complementing the efforts of Insurance companies and brokers to deepen Insurance penetration and acceptance, promising that, the council will, just as it has done in the past, continue to support the association in its plans to grow and develop the sector.

Similarly, the vice president, NCRIB, Mr. Tunde Oguntade, said, the relationship between the council and the media, especially, insurance correspondents, has always been positive, promising to extend such gesture to the current executives of NAIPCO, so that, together, they can grow the industry.
“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,” he pointed out.
The executive secretary, NCRIB, Mr. Fatai Adegbenro, added that both the media and the council are critical stakeholders and must together work to grow the industry.

Insurance, he said, drives the economy in advanced countries, stating that, this is a point Nigeria must aspire to be, through increased contribution to the nation’s GDP, saying, “we are all stakeholders in the industry and the public tends to believe anything that comes from the media, hence, the need to throw caution, so as not to feed the public with lies or hearsay. The role of journalists is to inform and we must give the right information to the people yearning for information.”

Earlier, the president, NAIPCO, Mr. Chuks Okonta, said, his administration is embarking on developmental journalism, which involves providing critical answers to issues affecting the insurance industry.

The motive of this style of journalism, he stressed, is to grow the sector through increased searchlights on the operations of Insurance companies, brokers and other players to ensure that they are playing their respective roles effectively.

On Company Profiling, he said, the association will profile  the management, claims or/and product of an underwriting firm, write about it in the most subtle language and human angle perspective to ensure the public truly understands the operations of insurance companies in the country.

He further listed other programmes of the association, which includes: the NAIPCO Annual National Conference, Trumpet Journal, Advert To News Initiative(ATN), among others.

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Gunmen Abduct Four Travellers In Ekiti

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Gunmen on Monday morning waylaid road users along Ayetoro Ekiti-Otun Ekiti Road and abducted no fewer than four persons before fleeing into the forest.

Sources said two buses conveying passengers from the Otun Ekiti end of the road were attacked by the gunmen, leading to the abduction of about four passengers, while other travellers escaped.

A source said that one of those who escaped told him that the gunmen took away four passengers from the two buses.

Another, who said he got the information when the hunters were informed of the incident, said, “The hunters were called that some kidnappers were operating along Ayetoro-Otun Road.

“But before they got there, the gunmen had piloted two buses into the bush. At that point, we cannot say the number of people taken into the forest, but the buses were there.

“I advised the hunters and the security agents who arrived the scene later that the kidnappers would have gone towards the Otun end and that they would not have gone too far by that time.

“Definitely, they were the ones who operated along Ayetoro-Ewu Road on Sunday evening. The Sunday operation was not successful and that was why they waited around to carry out this one,” the source said.

According to him, the kidnappers, on realising that they had missed their target on Sunday evening, resorted to attacking commercial motorcycle riders and had shot endlessly into the air to scare people.

The source said, “An okada rider was stopped at gunpoint and they took all his valuables, while another okada operator escaped into the bush. The kidnappers fled when they noticed that the other okada rider had escaped.”

Police Public Relations Officer, Ekiti State Command, Sunday Abutu, who confirmed the kidnap incident, said, “We heard the information and we have deployed our personnel there.

“There was a kidnap incident this morning. I cannot confirm yet the number of persons abducted. It began on Sunday evening when some suspected robbers attacked a man who the Police thereafter rescued.

“However, this morning, we learnt that the suspects were the ones who abducted some road users. The Police are on their trail,” the PPRO said.

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Photo News: Sovereign Trust Insurance Partners Junior Chambers International On Back To School Project

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Segun Bankole, DGM/Head, Sales & Corporate Communications, Sovereign Trust Insurance Plc (left), Yetunde Stella Akinsetire, JCI Member/Project Chairperson, “Back to School Project” (JCI Lagos Metropolitan) and Abiodun Awosanya, Convention Chairman, 2021 Junior Chambers International, while Sovereign Trust was presenting to them educational materials to support the project.

Sovereign Trust Insurance Partners Junior Chambers International On Back To School Project.

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NAICOM Restates Commitment To Protect Policyholders

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By Sola Alabadan

The National Insurance Commission (NAICOM) has reiterated its resolve to ensure that the rights of all stakeholders in the insurance industry, especially, policyholders are well protected, assuring that the insurance operators would never default in paying genuine claims.

The Commissioner for Insurance, Sunday Thomas, gave this assurance during a courtesy visit to Mutual Benefits Assurance Plc in Lagos recently.
The NAICOM boss also promised to take the success story recorded by the insurance sector in Lagos State to the Federal Capital Territory and 35 states of the federation.
He pointed out that the government and people of Lagos State, through their commitments to insurance practice, have demonstrated that there is bright future for the underwriting sector.

Thomas maintained that as a federal government agency, NAICOM would work with the federal government to ensure insurance in entrenched at the FCT and also work with governors and other stakeholders to give insurance its right place in states.

He posited that insurance remains the bedrock for economic development, as no nation can thrive very well without a viable insurance sector.

He stated that he was thrilled by the events around insurance that are happening in Lagos State, stressing that such events would be replicated across the nation as long as he remains the Commissioner for Insurance.

He also implored insurance practitioners to work with their shoulders high as they are privileged to work in an industry that holds a vital position in the economy.

 

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