By Henry Uche
In a bid to foster rapid growth for the insurance industry, the Chairman of the Insurance Industry Consultative Council (IICC), Mr. Edwin Igbiti, has called on the media to deliberately deploy their craft to foster insurance industry’s growth agenda in order to deepen insurance penetration in the country.
Igbiti who doubles as the President / Chairman in Council of the Chartered Insurance Institute of Nigeria (CIIN) gave the charge at the Dinner/ Gala Night of the 2022 Media Retreat With the theme, “Media As Catalyst For Insurance Inclusion” organised by IICC for members of the Nigerian Association of Insurance and Pension Editors (NAIPE) in Ogun State recently
Igbiti who described the media as critical stakeholders to the industry’s growth agenda through the instrumentality of awareness creation and education for insurance, called on the members of NAIPE to promote and project the industry’s activities in their reportage for the growth of the industry and national economy at large.
“We recognize the importance of the media in the growth of any industry. We know we cannot achieve our growth agenda without the media. The essence of this gathering is for us as an industry to bring you together to brief you on the activities of the industry and our plans for the future.
“It is, therefore, expected that as journalists, you are to tell our stories in your reports and analysis because we are in this together and we will continue to work together as partners in progress for the progress of the industry and the growth of the national economy. You are trying but we need more of you. You have to project this industry in the way and manner we want it to be,” Mr Igbiti appealed.
“The media poses as a veritable authority for agenda setting, public education, sensitization and awareness creation. As a powerful catalyst for social change and equally an effective tool for insurance inclusion that the industry desires, we urge you to employed your expertise and in-depth knowledge about the industry to objectively report the trends and opportunities as well as enlighten the public about the values of insurance to mankind.
He added that although there has been an improvement in terms of numbers, but judging from the nation’s population and demography, insurance penetration in Nigeria is still very low which he said is caused by the high level of poverty in the country.
“All efforts must be targeted at enhancing the profile of the industry as well as boost its significance to the nation’s economic growth. The gospel of insurance and its benefits to the public must be propagated so that we can attain the desired penetration rate in Nigeria. When the industry is booming from our efforts, it benefits us all. Thus, the onus is on all to ensure that the insurance industry attains its pride of place in the economic ecosystem,” he added.