Brokers Raise Insurance Awareness, Education Among Students

Insurance brokers, under the auspices of the Nigerian Council of Registered Insurance Brokers (NCRIB), Lagos Area Committee(LAC) are raising insurance awareness and education among students in Lagos and by extension, across the country, in its bid to ‘Catch Them Young.’

To this end, it awarded outstanding students from its recently held secondary schools quiz competition with one year School Care Insurance Policy, laptops, text books and phones.

Speaking on this gesture at the NCRIB Lagos Area Committee 20th anniversary celebration, annual general meeting(AGM) and 2023 end of year lecture in Ikeja, Lagos on Tuesday, the chairman, NCRIB Lagos Area Committee, Mr. Ademola Olutusin, stressed that, the insurance awareness campaign and award for outstanding students will be an annual event that will equally be extended to higher institutions.

Promising that the committee will not rest on its oars to increase insurance awareness, sensitisation and education, he noted that, the gesture of targeting the students in Secondary schools across the state will ensure they are aware and educated on insurance at the early stage of their lives.

This, he said, will also ensure they develop interest in insurance profession, which is to the overall benefits of insurance industry.

Disclosing that the Area Committee is in discussion with various secondary schools and Lagos State government on the provision of teachers to take insurance lessons, he noted that, the discussion is at the last stages and hopefully insurance will be written in West African Examination Council (WAEC) in the next exams.

The Committee, he added, is also discussing with schools on creation of insurance clubs which will give the students an appetite for insurance, while applauding the founding fathers of the the Area Committee for laying a strong foundation on which the Committee stands on today.

He promised to sustain and improve on the legacies entrenched by his predecessors to ensure the Area Committee remains at the top.

Earlier, the president of NCRIB, Prince Babatunde Oguntade appreciated God for the heights attained by the Committee since it was established 20 years ago, while commending the present leadership of the Committee for the feats achieved even as he applauded the past executives of the Committee for the innovative initiatives, collaborative spirit and selflessness that laid the foundation of the achievements for which the Committee proudly celebrated on Tuesday.

Similarly, the president, Chartered Insurance Institute of Nigeria(CIIN), Mr. Edwin Igbiti, who applauded the committee for the initiative, urged other stakeholders in insurance industry to emulate the gesture in a move that aligns with the motive of CIIN to increase insurance education in the country.

Meanwhile, the Lagos Area Committee of NCRIB and Insurfeel Initiative had earlier partnered on promotion of insurance education through donation of free policies tagged, ‘School Care Cover’ to students.

The partnership would enable deserving students enjoy free insurance protection on personal accident while in school, on vacation and anywhere within Nigeria and also provides payment of school fees to the named beneficiaries of the insured parent/ guardian in event of the following occuring: Permanent disability resulting from an accident and death – whether by accident or natural means

Chairman, Lagos Area Committee of the NCRIB, Ademola Olutusin said, the Area Committee is committed to enhancing education and safety of students, adding that the partnership would impact lives of students, the insurance industry and by extension the nation.

According to him, the initiative would also enable the students understand and feel the touch and benefits of insurance which remains the best tools to mitigate risks.

He said, the Area Committee has adopted quiz competitions amongst schools as a means to introduce students to Insurance early in their life

Similarly , the promoter, Insurfeel Initiative, Chuks Udo Okonta, said the partnership is part of the advocacy strategy of the initiative, stressing that the advocacy strategy entails partnering organisations; associations and groups to adopt donation of free insurance policies to the uninsured.

He noted that, Insurfeel Initiative presently donates two unique insurance policies – School Care Cover and Uni Personal Accident Cover to individuals who have never had much experience on insurance for them to feel how insurance works.

He implored organisations, associations and groups, especially, within the insurance sector to embrace the initiative and use it to offer insurance products as souvenir to the public as against donating of products from other sectors, whilst complaining that insurance penetration is low.

According to him, Insurfeel Initiative has recently donated free insurance policies to members of the public and is committed to donate more even as it promotes the advocacy strategy to get individuals; organisations; associations groups to also make donations.

Insurfeel, an initiative developed by the Publisher of Inspenonline, Chuks Udo Okonta, was designed in line with – ‘The Suya Seller Strategy’ – which entails tasting before buying. It stemmed from a research conducted which showed that people who have had positive experience on how insurance works seem to believe and easily embraced the system. This research therefore, necessitates the need to extend insurance experience to more people so as to deepen insurance penetration, provide safety and enhance insurance industry’s profitability.