By Henry Uche
In its quest to see that every Nigerian is under one form of insurance cover or the other, the Chartered Insurance Institute of Nigeria (CIIN) is urging insurers to strive to bring every Nigerian into the insurance safety net to enable them bounce back in event of any eventuality.
The President/Chairman of Council of CIIN, Mr. Edwin Igbiti, who made this plea at the Institute’s 2022 Education Seminar, held in Benin- Edo State recently, also reiterated the Institute’s resolve to pursue manpower development, insurance education, awareness and professionalism as its contribution to insurance sector.
“The floods incidents avail us the opportunity to resonate the benefits of insurance to every Nigerian. I urge us all to be custodians of the industry by consistently advocating the significance of insurance to all. This would in effect, increase insurance penetration and at the same time reduce Nigerians dependency on the government for compensation when such eventualities occur.
“CIIN will continue to leverage on all platforms to ensure the propagation of insurance education, awareness and the highest levels of professionalism obtainable in the industry. The Institute’s mission is centered on its mandate to provide world class manpower with the highest standard of professional and ethical training for the Nigerian and International business community,”
CIIN president maintained that no effort could be too much to collectively increased Insurance consciousness in our Nigeria, noting that all hands must be on deck in the actualisation of the Insurance industry agenda. Igbiti charged insurers and other strategic stakeholders not relent in their contributions to the ensuring the insurance industry takes its pride of place in the economy.
With the theme: “Insurance Solutions for MSME Resilience and Growth: Accessing New opportunities for Penetration”, he posited that it was high time insurance operators beamed lights on the vital role insurance plays particularly in providing solutions for Micro, Small and Medium Enterprises (MSMEs), resilience and growth, as well as the need for innovation and creativity in offering insurance products and services to boost the industry’s growth and development.
“A major challenge the industry has been facing over the years is low insurance penetration. As practitioners, I know we are doing all within our power to address this issue and I encourage us to do more so that all Nigerians will be put into the insurance safety net.