The insurance industry in Nigeria has collectively launched ‘Live With Freedom’ project, a marketing campaign to showcase the advancements made in the insurance sector, and to encourage more Nigerians to take up insurance policies.
The core objective of the project is to redefine narratives about insurance in Nigeria and present insurance as an indispensable & desirable tool for risk mitigation.
The campaign which began effectively since June 2018 has seen several articles on the benefits of insurance published on the website and shared across various social media platforms. The educative features span the benefits of insurance, easy ways to purchase insurance and the compulsory insurance policies recognised by law in Nigeria.
The compulsory insurance policies include:
- Motor Third Party Insurance
- Employee Group Life Insurance
- Health Care Professional Indemnity
- Insurance of Public Buildings
- Insurance of Buildings under Construction
- Aviation Third Party Insurance
- Marine Insurance (Cargo)
According to the campaign, ‘insurance serves an an anchor for both individuals and the economy. For the individual, insurance helps to safeguard treasured interests from loss and uncertainty, giving him/her the freedom to enjoy life to the fullest. Insurance ensures reduced risk of venture and provides succor during losses, hereby enabling businesses to thrive. It drives the key sectors of the economy. The wealth of the economy and its human and material resources are fortified when they are insured.’
Today, many Nigerians do not know that with N5, 000 they can purchase an insurance policy which proves that insurance has become affordable and easy to access in the country.
The “You are Insured” platform has also made it easy for users to access any insurance company of their choice with a simple click on their mobile devices. The platform also serves as a bank of knowledge and information for existing and prospective policyholders or buyers of insurance as it relates to insurance matters. Simply put, it is insurance made easy – a one-stop resource centre for everything insurance in Nigeria.
For instance, in its first three months, the campaign recorded a following of over 20,000 and a reach of about 8.8 million across its various social media platforms through a total of 171 videos and graphics.
For example, a total 1,694 radio spots of radio skits were aired in the second phase of the campaign, an increment from 1,415 skits aired in the first phase. Brand activation events, interviews, talk shows, etc. are also currently in the works.
The project has recorded tremendous successes so far. According to a poll conducted by Brand Sampling International, “67 percent of the people who encountered the campaign in phase 1 are now aware of compulsory insurance.”
By the end of January 2019, the campaign had also witnessed over 100 percent increased followership and engagement across its social media platforms, in comparison to when it kicked off in June 2018. The combined reach across digital media had also risen to 12.3 million.
According to experts in the market, the campaign will indeed usher in a new and improved era for the insurance industry in Nigeria.