Unitrust Insurance Company Limited has partnered insurance brokers as part of its strategy to deepen insurance penetration in the country.
Findings show that insurance penetration in the country has been abysmally low, with about five per cent adoption while about 190 million Nigerians have no form of insurance coverage.
This huge gap, Unitrust said, it is coming to fill, hoping that its partnership with over 500 registered insurance brokers, whose operations cut across the nooks and crannies of the country, will increase insurance adoption.
Speaking at the NCRIB Members Evening in Yaba, Lagos, at the weekend, the managing director/CEO of the firm, Mr.John Ijerheime, while appreciating the support of the brokers so far, pleaded for more support as Unitrust repositions to a most preferred insurance company to place risk businesses.
“As a management, we understand the dynamics among players and insuring public. We (Unitrust) clocked 35 years on the 13th of August 2021 and want to assure our esteemed insurance brokers, who have been a force behind our existence that we will remain sound, rejuvenated and re-capitalised,” he said.
Ijerheime, who was represented by the executive director, Technical, Unitrust Insurance Company, Mrs. Yetunde Adenuga, said the company’s 2020 financial year represented a significant period which highlights its commitment to build a resilient brand amidst challenging economic and operational environment due to the pandemic.
“We are mindful of brokers’ quest for exceptional service delivery hence we are equally committed into investing resources that will strength People, Processes and Product development to meet the demands of the brokers and insuring public. The future will look more brighter when the brokers continue to tag along with Unitrust Insurance company to achieve mutual beneficial business relationships,” he pointed out.
In the last five years, he said the insurer has paid over N5 billion claims to its policyholders, a development that further re-emphasised the commitment of the underwriting firm to settle genuine claims as and when due.
Earlier, the president, Nigerian Council Of Registered Insurance Brokers(NCRIB), Dr. Bola Onigbogi, had said, her administration paid significant attention to the promotion and growth of the council’s members and younger insurance broking professionals through a well-articulated training and mentorship programmes.
Conclusively, she stressed that, her regime recorded some modest level of success in the last two years, but not without a few challenges which she conquered with wisdom and understanding.
“However, we inculcated good attitude and morally sound responses to situations. We deployed technology innovatively within the uncontrollable constraints such as COVID-19 and ensured that we did all what was there to be done in the right order,” she pointed out.