By ROSEMARY ONUOHA

President of the Nigerian Institute of Marketing of Nigeria (NIMN) Mr. Ganiyu Koledoye has said that personal relationship is an important tool that should be taken seriously if the insurance industry wants to grow.

Koledoye who made the assertion while delivering a paper titled, ‘Marketing & Sales of Insurance as an Intangible Product’ at the maiden insurance consumers’ forum organised by Almond Productions Limited in Lagos, said that such relationship binds the customer and the operators together.

According to him, most operators know little or nothing about their customers and are mostly concerned with only renewal of their premium, adding that insurance industry will move forward and grow penetration when they start to relate on personal level with the customers.

In the same vein, Chairman of the forum, Mr. Ogala Osoka who was represented by former Managing Director/CEO of Continental Reinsurance Plc, Mr. Adeyemo Adejumo called on operators to reach out to the public by contributing to the society.

He said that Corporate Social Responsibility is one of the ways insurance industry can give back to the society and grow the industry, adding that the insurance operators have taken a lot from the society and there is need for them to give back to the society whether individually or collectively.

He further urged consumers to read and examine the details of their policy documents before they go into any contract, adding that ignorance is not an excuse of the law.

According to him, insurance business is a contract which is binding between the insured and the insurer, adding that better knowledge of the policy will enable the customer and the operators to relate better.

He however frowned at the non-enforcement of the law by the federal and state governments, noting that there are a lot of laws that have been established by the Insurance Act but none of these laws are being enforced by the government.

He said that laws such as the group life, building insurance, motor insurance etc, if enforced effectively will help to deepen insurance penetration and grow the gross premium of the industry.

On fake insurance policies being issued at licensing offices in the country, the former President of Chartered Insurance Institute of Nigeria (CIIN) and Chairman of Alpha Choice Insurance Brokers, Mr. Sunny Adeda, called on the Nigerian Insurers Association (NIA), to put an end to such racket, adding that the business is illegal and must be stoped by the umbrella body of insurers.

Adeda frowned at a situation where customers are forced to purchase fake insurance document after they have already acquired a genuine motor insurance policy from a registered company.

In response, the NIA Director General, Mr. Sunday Thomas assured consumers that urgent steps are being taken by the Association in ensuring that such offices in the country are closed down.

According to him they are working with each state government to ensure that such offices are closed and insurance is sold at the authorised outlets.