IICC seeks media support to increase insurance penetration


By Rukayat Adeyemi
Ogun (Ijebu Ode) Nov. 27, 2020 (NAN) Mr Muftau Oyegunle, Chairman, Governing Council, Insurance Industry Consultative Council (IICC), on Friday called for more support from the media to increase insurance penetration in Nigeria.

Oyegunle, also President/Chairman, Governing Council, Chartered Insurance Institute of Nigeria (CIIN), made the call at the 2020 Media Retreat in Ijebu Ode, Ogun, with the theme: Changing the Face of the Media; The New Expectations.

“One of the mandates of the Council is to promote insurance awareness; we urge you all to use your platforms and the reach they cover to promote the gospel of insurance and its offerings.

“As the world continues to evolve, the expectation from you as a key cog in the turning wheels of economic growth equally changes.

” It is upon this notion that the theme for the retreat has been ably conceived.
“There is a need for knowledge and creativity to lead the way as well as the adoption of artificial intelligence in amplifying the content that you create,” he said.

According to him, the onus is on all stakeholders in the insurance sector and its network to ensure that the industry attains its pride of place in the economic ecosystem.

Oyegunle said that the COVID-19 pandemic had shocked even the most prepared organisations and industries in the world, as the virus and its effects remain ever present with us.

He said while the recapitalisation continued to be on the front burner, the outbreak of the Coronavirus had made a delicate situation even more difficult.

“However, there is retained optimism that the exercise will drive positive growth in the industry.

“As custodians of the news, you play a very key role in shaping the conversations within the industry now and post recapitalisation, ” Oyegunle said.

In her address, Mrs Bola Onigbogi, President, Nigerian Council of Registered Insurance Brokers, (NCRIB) urged the journalists to see themselves as critical stakeholders of the industry.

Onigbogi, represented by Mr Tunde Oguntade, Vice President, NCRIB urged media practitioners to be objective in their reportage, as accurate and critical analyses of activities would help the industry to grow.

She urged members of the National Association of Insurance and Pension Correspondents (NAIPCO) to strive to unite the industry through their reports and analyses.

The NCRIB president said this could be done by giving all the different segments of the industry the same level of coverage.

” Don’t report Nigeria Insurers Association’s success as NIA’s success, don’t report NCRIB’s success as NCRIB success. It is an industry success, aspire to unite the industry,” she said

Also, Mrs Yetunde Ilori , Director General, Nigeria Insurance Association (NIA), charged the journalists to ensure objectivity, fairness and balance in their reports, for growth of the sector.
Ilori was represented by Mr Davies Iyasere, Head, Human Resources/Administration and Corporate Communication, NIA.

She said that there was no disagreement between operators in the industry and the National Insurance Commission on the recapitalistion mandate as speculated in some quarters.

“What is going on is the normal consultation and collaboration to arrive at a level playing ground for the good of all stakeholders, industry and the nation at large,” Ilori said.

The IICC media retreat is borne out of the need to reinforce the existing relationship between the insurance industry and the media to provide an effective, efficient and all-inclusive platform for the promotion of insurance education.

IICC was formed with objectives aimed at raising the profile of the industry as well as increase its relevance to the nation’s economic growth.

The objectives include acting as an industry voice for national matters, acting as a platform for intra industry conflict resolution, and promoting the industry’s image and growth agenda.

It is also to take up and assume any other role that may serve the best interest of the insurance industry.

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