NAICOM
From left: Chairman, Sub-Committee on Publicity and Communications of the National Insurance Commission (NAICOM)/Managing Director, Leadway Assurance Ltd, Mr. Oye Hassan-Odukale; Deputy Director/Head, Corporate Commission, NAICOM, Mr. Rasaaq Salami, Managing Director, NSIA Insurance Company, Mrs Ebele Nwachukwu, Managing Director, Custodian Allied Insurance, Mr. Toye Odunsi and the Director General, Nigerian Insurers Association, Mrs Yetunde Ilori, during NAICOM and NIA press conference on rebranding Insurance industry held in Lagos. June 1, 2018.

Insurance is one of those things Nigerians don’t like to hear at all. When you talk about insurance, the average Nigerian’s position is “not for me”. It has become the general perception that insurance is only for the rich. In addition, having insurance doesn’t exactly translate to a better life. Majority can’t be bothered and most people who understand the need get to see the benefit a little too late – after their un-insured assets have been damaged.

Sadly, this notion about insurance does more harm than good to Nigerians. Getting insurance is just like putting on a seatbelt while driving; it’s more about safeguarding your life and assets rather than getting caught by the road safety officials.

These are some of the reasons why the Insurers Committee has decided to educate the populace and strategically reposition the insurance industry in the minds of the public.

This rebranding programme will focus on:

  1. Changing the mindset of Nigerians on the business of insurance.
  2. Ensuring the public understands the importance, values and benefits of insurance.
  3. Showcasing the advancements made delivering efficient services within the insurance sector, to encourage more Nigerians to take up insurance.
  4. Propagating insurance as the engine that drives key sectors and keeps them in business.

The rebranding programme was first communicated to the general public in 2017 by the Chairman, Sub-Committee on Publicity and Communications of the Insurers Committee and Managing Director, Leadway Assurance Limited, Mr. Oye Hassan-Odukale. In his words, “The low insurance penetration rate in Nigeria is as a result of the wide financial protection gap; hence we must walk hand-in-hand to ensure that risk protection and insurance education is readily accessible to the average man on the streets. We need to look beyond making sales to reversing the negative perception many Nigerians have of the insurance industry.”

The Insurers Committee’s rebranding communication campaign will commence in the coming weeks.

About the Insurers Committee

The Insurers Committee is an industry body comprising National Insurance Commission (NAICOM), and all CEOs of the Insurance Companies.

Mrs Ebele Nwachukwu (Vice Chairman)

For the insurers’ committee

Deal book 300 x 250
Deal book 300 x 250

Contact:

Mr. Rasaaq Salami – Deputy Director/Head, Corporate Affairs, NAICOM

(rsalami@naicom.gov.ng) 08059214864

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