By Omobola Tolu-Kusimo
Insurance coverage penetration within the nation is at an all-time low and this isn’t beneficial for the well-being of people, companies and the financial system, the Managing Director, Stanbic IBTC Insurance coverage Brokers, Mr Anslem Igbo, has mentioned.
He spoke throughout a webinar session entitled: “Insurance coverage being a necessity: Securing the long run, defending what’s essential” in commemoration of the World Insurance coverage Consciousness Day.
He mentioned insurance coverage performs a vital function in selling financial progress and growth by guaranteeing the environment friendly allocation of monetary sources from the excess to the deficit unit and in the end bulwark for enterprise sustainability.
He said that in the perfect of occasions, the world is an unsure place, characterised by quite a few occasions that trigger the lack of lives and properties with some occasions as man-made and others pure.
He mentioned: “The Covid-19 pandemic as an illustration has thrown a wrench within the works and additional sophisticated already sophisticated lives, making a close to precarious scenario. There isn’t any higher time than now to emphasize the need for insurance coverage, than after we commemorate the World Insurance coverage Consciousness Day.
“The insurance coverage enterprise is a novel one which allows shoppers successfully handle their dangers. Such dangers could embody theft, accident, theft, harm, man-made and pure disasters, and even dying. Insurance coverage helps to realize peace of thoughts by danger switch and environment friendly insurance coverage claims.
“In response to bridging the adoption hole, the Stanbic IBTC group created the Insurance coverage Brokerage enterprise 4 years in the past when the organisation started its full operations sequel to the granting of licence by the Nationwide Insurance coverage Fee (NAICOM) in January of 2016. Our paramount focus has since been to handle recognized wants within the insurance coverage brokerage sub-sector and make sure that Nigerians are adequately protected.”
Igbo urged Nigerians to take a step in the correct path by investing in insurance coverage to guard their belongings and valuables.