IICC Advocates Media Support To Increase Insurance Penetration  

The chairman of the Insurance Industry Consultative Council(IICC), Mr Edwin Igbiti has charege the media to support the industry’s growth agenda in order to deepen insurance penetration in the country.

Igbiti, who is also the president and chairman in Council of the Chartered Insurance Institute of Nigeria (CIIN) made the appeal during the Welcome Dinner/ Gala Night of the 2022 Media Retreat With the theme “ Media As Catalyst For Insurance Inclusion” organised by IICC for members of the Nigerian Association of Insurance and Pension Editors (NAIPE) in Ijebu Ode, Ogun State, at the weekend.

Igbiti, who described the media as critical to the industry’s growth agenda, called on the members of NAIPE to promote and project the industry’s activities in their reports for the growth of the industry and national economy.

“We recognise the importance of the media In the growth of any industry. We know we cannot achieve our growth agenda without the media. The essence of this gathering is for us as an industry to bring you together to brief you on the activities of the industry and our plans for the future.

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“It is, therefore, expected that as journalists, you are to tell our stories in your reports and analysis because we are in this together and we will continue to work together as partners in progress for the progress of the industry and the growth of the national economy.

“You have been trying but we need you more. You have to project this industry in the way and manner we want it to be,” Igbiti appealed.

On the performance of the industry, he said, although there has been an improvement in terms of numbers, but judging from the nation’s population and demographic, insurance penetration in Nigeria is still very low  which he said is caused by the high level of poverty in the country.

The IICC was inaugurated in 2013 to act as the unifying voice of the insurance industry, representing it on national issues affecting the insurance industry, taking up and assuming other roles that would serve the best interest of the industry in Nigeria and providing lasting solutions to challenging issues within the insurance sector.