By Henry Uche, [email protected]

In a bid to raise the quality of service to Edo State citizens, the state government is seeking the expertise of insurance professionals for plans and programmes, to boost economic development.

The state governor, Godwin Obaseki, who made this call recently at the 2022 Insurance Industry Consultative Council (IICC) Compulsory Insurance Training held in Benin City, assured that the collaboration would also boost insurance adoption in the state.

The governor who was represented by Commissioner for Finance, Mr. Joseph Eboigbe, revealed that his administration had in the last six years implemented quite a number of initiatives, insurance inclusive that are opening up the state’s economy, stressing that insurers professional collaborations were needed to solidify the efforts. 

“It is quite auspicious that we are having this event at this time. We have several projects in the pipeline. One of the things that we required to complement our efforts is high quality professional advice and we need insurance skills to be on the safe side. With high quality skills we can then get quality service and counsel to execute our plans. 

“On recent flooding, though Edo State did not really suffer much however, we do have certain parts of our state that do suffer flooding annually when it rains heavily, hence the need for insurance professionals,”

The governor maintained that the much needed insurance experts will serve as  advisers in this regard, as the state government makes insurance related  decisions and plans for the people on unforeseen incidents, hazards and risks, going forward. 

“We need insurance experts in Edo state that have the requisite knowledge, skills and experience that can advise us properly on insurance matters so that annually we will not keep reacting to disasters proactively. 

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“On economic expansion, we also need insurance professionals to work with us. We have commenced health insurance scheme but the penetration is still very low. If it is by way of advocacy, we need your support as you have a wider reach.” 

The Governor added that, government was seeking to concession the General Hospital, Auchi to private individuals/sector for the purpose of providing quality health services to citizens. 

“In the process of deliberating on this, we have realised the importance of health insurance and the need to deepen it. So, we will be very happy to get support and collaborate with the insurance experts in the state so that we can think out how best to fast track this initiative and get insurance services provided to the sector as well as other sectors such as Agriculture”, he stated. 

Earlier in an address the Chairman, IICC, Mr. Edwin Igbiti, said the IICC Compulsory Insurance Training was organised to educate the government, MDAs and the private sector on mandatory insurance policies and the benefits therein for easy adoption. 

“Insurance stimulates business activities to operate in a cost-effective manner, by managing risks associated with business operations. The insurance sector safeguards the assets of its policyholders by transferring risks from an individual or business to an insurance company. 

“A major risk that is bedeviling the country among others is the flooding menace. The current flooding has caused major havocs and lost of lives. The IICC seize this opportunity to sympathize with all the victims across the country and believe that insurance companies will play their expected roles in ameliorating the effect of the losses and damages done promptly,” 

Igbiti who commended the state governor for his contribution to the insurance sector said, “The State insured 400,000 residents in 2021. The Edo Health Insurance Scheme is a worthy project of His Excellency. I believe that this relationship will continue for many years to come. 

“We urge you not to rest on your oars rather continue with the good works. We are hopeful that you will continue to fashion an enabling environment for the insurance business to prosper.” he affirmed.