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Youth identified as tool to deepening insurance


THE need to continually sensitise the youths on the importance of insurance has been identified as a strategic factor in the deepening of insurance penetration in the country.

Hence, the Nigerian Insurers Association, NIA, is gearing up to the challenge.

To this end, the Life Offices Committee of the NIA said it is working on rolling out a campaign to sensitise children and youths on the need for insurance.

Accordingly, the Committee called for the impactful awareness campaign in schools to sensitise the nation’s future leader of the essence of insurance.

Chairperson of the Committee, Mrs. Bola Odukale, disclosed this in a report presented to the NIA.

Odukale stressed the need for a continued enlightenment of the insuring public through impactful advertisements, especially at the grassroots and in schools.

It will be recalled that the NIA Chairman, Mr. Remi Olowude had earlier pledged to promote insurance awareness through sponsorship of insurance essay competition among schools.

In a similar development, Standard Alliance Life Assurance Ltd, one of the nation’s life underwriting companies, has picked the challenge of sponsoring a television programme anchored by Almond Finance and Wealth Report which is geared towards deepening awareness for insurance in Nigeria.

The company said that the move became necessary because it is concerned about making Nigerians across the different class divides know much about insurance and its importance to their lives.

According to the Head of Corporate Communications, Mr. Nelson Egboboh, the sponsorship of the programme which is aired on MITV and Silverbird Television, both on local and DSTV channels every Sunday and Thursday respectively shall cover the next thirteen weeks from the second week in June.

According to him, “A situation where below two per cent of 160 million Nigerians subscribe to insurance is discouraging and unacceptable. This is why programmes of this nature must be supported by insurance companies to help Nigerians come to grasp with the value of insurance in their lives and businesses.

“We at Standard Alliance Life Assurance Ltd believe that Nigeria with such a huge population ought to be the biggest market for insurers in Africa if only the people are fully aware of what they stand to benefit by subscribing to any applicable form of insurance.”

Egboboh explained that the desire of the company to ensure that no form of losses suffered stop Nigerians from still living their lives fully and the need to enlighten the public on the crucial role insurance plays in the economic stability of any nation informed the organisation’s decision to throw its weight behind the insurance awareness deepening television programme.


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