By Henry Uche
As part of its efforts to make insurance a household name for everyone in the country, the Nigerian Council of Registered Insurance Brokers (NCRIB) is embarking on insurance education for about 2,800 students across different schools in Lagos State as it also sensitises the government employees on insurance.
NCRIB’s President, Rotimi Edu, disclosed this in a monitored interview where he said that the brokers fraternity will be hosting about 2,800 students in the arena of the Lagos lawn tennis club to mentor them on insurance.
According to him, the initiative stemmed from the fact that the participants will grow with the knowledge of insurance as they work in different organisations going forward.
“People would be surprised that I took my members in Lagos, for a walk from our secretariat to the Third Mainland Bridge. That day, my company did 2,500 hand bills and distributed 1,800. Following that, I also tried to use sport as a means of deepening penetration.
“To deepen insurance penetration in the country, we need to think beyond the box and look out for non-professionals. Since I took office and we started our visitations, there are three major people that we have found in any company handling insurance, they are: The Accountants, Managing Directors and Administrative Officers.
“So, we have spoken to the Institute of Chartered Accountants, Architects, because of buildings and they have asked us to come and talk to them during their Annual Conference. We would not stop there, we shall also meet many other professional bodies in the country. This is because insurance is becoming indispensable,” he posited.
Edu also stated that the brokers are planning to storm the Lagos State Secretariat to sensitise the people there on insurance and why they should buy in, adding that NCRIB would also permeate other regions especially the uncovered places to make sure that the gospel of insurance is preached across board.
In another development, NCRIB has implored the Federal Government to rescue ailing underwriters at it did to the banking sector years ago. According to him, the cancellation of the licence of Niger Insurance Plc and Standard Alliance Insurance Plc by the National Insurance Commission recently, would have a run on the insurance industry.
“When we had a meeting with the Permanent Secretary, Ministry of Finance, I made it clear that when banks are failing, the government comes to their rescue. I have also discussed this with the Commissioner for Insurance that we should seek a way to penetrate the government. A company like Niger Insurance should not be allowed to die. A company like Industrial and General Insurance (IGI) is also struggling, the only thing that is saving that company is that it has a lot of investments. but these investments are not easily convertible to cash.