Connect with us
Advertise With Us


Underwriters Charge Nigerians On Insurance Culture



Stories by ZAKA ABD-KHALIQ, Lagos

Managers of insurance companies across the country have charged Nigerians to imbibe insurance as a lifestyle and not as a regulatory necessity.

Speaking on behalf of insurance operators in Lagos at the weekend, the vice chairman, Sub-Committee on Publicity and Communications, Insurers Committee, Mrs Ebelechukwu Nwachukwu said, the need to increase awareness on insurance products and services necessitated the rebranding of the country’s insurance industry.

Nwachukwu, who is also the managing director/CEO, NSIA Insurance Limited, stated that the Insurer’s Committee, comprising  CEOs of all insurance companies in the country, engaged Alder Consulting, which began a brand marketing programme in 2018 to rebrand the industry and make it better understood by Nigerians.

She disclosed that the initiative was born out of the need to redefine the narrative about insurance and to educate Nigerians on its importance.

The campaign, according to her, was also designed to change the perception of the sector and increase the market penetration on insurance in Nigeria.

Considering that less than one per cent of the Nigerian adult population was insured and about 80 per cent of those insured are 35 and above, while millennials below 35 years form over 70 per cent of Nigeria’s population and were largely insured, she said, the sector had to intervene to these set of people to embrace insurance.

“In line with the foregoing, the project was designed to showcase the advancements made in the insurance sector and to encourage more Nigerians to take up insurance. It would also highlight real customer testimonials of insurance. At the end of the day, insurance would be positioned as desirable and not just a regulatory necessity,” she pointed out.

On his part, the managing partner, Alder Consulting, Mr. Leke Alder, explained that the campaign would span an initial period of three years, in three months respectively.

He added that, instead of pushing a message of fear and tragedy, the campaign focuses on the fulfillment of hopes and dreams, as insurance serves as a safety net in life. Hence, he said, the phrase “Live with Freedom” was adopted as the theme for the campaign.

“Insurance users can live life to the fullest because they are confident that no matter what happens, they are insured. To ensure that the campaign was continuous and sustainable, a dedicated website was developed. Social media pages were also set-up to ensure that the campaign drilled down to the retail market space.

“According to a poll of 1,500 individuals in Lagos, Abuja, Enugu, Port Harcourt, Kaduna, Asaba and Ibadan conducted by Brand Sampling International, since the beginning of the project, 66 per cent of those who have heard the campaign are changing their perception of insurance,” he said.

During the first phase of the programme, he noted that, key milestones included using a new narrative to begin repositioning insurance; educating Nigerians on the importance of insurance; communicating innovative advancements in the insurance industry; showcasing testimonials from satisfied customers; and highlighting compulsory insurance categories required by the Federal Government.

“Materials were deployed across print, radio and social media. A brand activation event also held at the Ikeja City Mall in Lagos. 1,415 radio jingles were aired and 28 radio interviews were conducted. 121 videos, graphics and blog posts were posted across digital media platforms reaching a combined 8.8 million people,” he noted.



%d bloggers like this: