Nigerians urged to imbibe insurance as lifestyle


The Vice Chairman, Sub-Committee on Publicity and Communications, Nigeria Insurers’ Committee, Mrs Ebelechukwu Nwachukwu, on Friday urged Nigerians to imbibe insurance as a lifestyle.

Nwachukwu, who said this in Lagos at an interactive section with journalists, noted that there would be consistent rebranding of the country’s underwriting industry to meet its target and attract Nigerians.

According to Nwachuku, the Insurers’ Committee that comprised of Chief Executives Officers (CEOs) of insurance companies appointed Alder Consulting firm, Nigeria’s leading creative intelligence firm in 2018, to work on the rebranding.

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She further disclosed that the initiative was also as a result of the need to redefine the narration on insurance and to educate Nigerians on its importance.

According to her, the campaign will change the perception on the sector and increase the market penetration of insurance in Nigeria.

“Considering that less than one per cent of the Nigerian adult population is insured.

“About 80 per cent of those insured are 35 years and above.

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”Millennials below 35 years who form over 70 per cent of Nigeria’s population or about 138.6 million form a large part of the uninsured.

”The underwriters are sure that that the rebranding will make insurance an important asset all Nigerians must possess.” she said.

Nwachukwu further said the project would showcase the advancements made in the insurance sector to Nigerians and the impact of insurance so far.

“It would also highlight real customer testimonials of insurance to enable insurance be positioned as desirable and not just a regulatory necessity,” she said.

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