Insurance Sector Tags Media On Growth Support Initiative 

Nigeria Insurers Association Considers Growth Strategy with Legislature -  Nigerian CommunicationWeek

Yemisi Izuora

The media has been described as a indispensable partner in the strategic growth plan of the insurance industry in Nigeria.

The Corporate Affairs Managers’ Committee of the Nigeria Insurance Association, NIA (CAMCONIA), has therefore called on the Media to support the growth and sustainability of the Insurance Industry in Nigeria.

The understanding was shared at the CAMCONIA’s bimonthly meeting recently held with the Executive Members of the National Insurance and Pension Correspondents Association representing both the print, electronic and Online media in the country in attendance.

According to the Chairman of the Committee, Oyinkansola Sobande, “the role of the Media as watchdog in the society cannot be undermined especially in matters that is in the interest of the general populace. She further said that “the Media is very critical to the development and sustenance of the Insurance Industry considering the fact, that, there are a lot of challenges facing the sector which are being addressed by stakeholders and business owners in the sector”.

At a point like this, the media as the objective watchdog has a vital role to play in helping to build and reinvigorate the confidence of the insuring public towards the sector. She further appealed to the media to rescind on exposing damaging reports discrediting underwriters as such acts can adversely affect the industry.

Oyinkansola further mentioned that, “businesses, at some point in time, faces one form of challenges or the other and that what some of the players are facing currently, is not peculiar to the Insurance Industry alone, therefore, journalists are required to support positive projection of the industry. The responsibility of the Media in this regard is quite phenomenal and must be carried out with astute professionalism.”

She commended the efforts of all the Insurance Correspondents in the various Newspaper Houses in the country as their intervention in reporting insurance news and happenings is quite commendable and more can still be done in pushing the frontiers of the Industry.

Also, the Director General of the Nigerian Insurers Association, Mrs. Yetunde Ilori posited that what the industry need more than ever is acceptability and patronage from all strata of the society; both at the Corporate and Individual level and that can only come with a better understanding of the workings of the insurance business which unfortunately, a lot of Nigerians do not have.

The education on insurance can never be enough at this point in time. “We must move away from the level of assumptions to that of informed opinion and ultimately, acceptance”. She said a lot of promotion and advertisement are ongoing by several Insurance companies both on the Electronic and Print Media to engender sensitization and awareness of insurance in the country for a robust and holistic enlightenment of the insuring public.

The Chairman of National Association of Insurance & Pension Correspondents (NAIPCO), Mr. Chucks Okonta, solicited the support of member companies and active involvement of the association while pledging the unflinching support of NAIPCO towards ensuring that the Industry is presented in the best light possible to the general public.

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