Tuesday, September 2, 2025
23.1 C
Lagos

N300m Insurance Rebranding Project Stirs Market

The N300 million rebranding project by the insurance industry in Nigeria has reinvigorated the hope of operators in the market for better days ahead.

Mr. Oye Hassan-Odukale, chairman of the sub-committee on Publicity and Communications of the Insurers Committee, said the project has an initial three-year lifespan to change the perception of the Nigerian public about insurance and the insurance industry itself.

Odukale maintained that Nigeria cannot attract sustainable Foreign Direct Investment (FDI) without insurance protection for the investors.

N300m Insurance Rebranding Project Stirs Market
L-R: Chairman Sub-Committee on Publicity and Communication, Insurers Committee, Hassan Oye- Odukale; Deputy Director/Head, Corporate Affairs, NAICOM, Rasaaq Salami; Vice Chairman Sub Committee, Publicity, Ebelechukwu Nwachukwu; Managing Director, Custodian & Allied General Insurance Limited, Toye Odunsi and Director-General, Nigerian Insurers Association (NIA) Mrs Yetunde Ilori.

“We want insurance to move the economy forward. Investment cannot come into Nigeria without insurance protection for the investors. If we achieve one percent insurance penetration in Nigeria, it is huge given our population of 180 million. Indeed, claims payment is the best advert for insurance companies in the country.”

The insurance rebranding project will focus on four key planks:

  • Changing the mindset of Nigerians on the business of insurance
  • Ensuring the public understands the importance, values and benefits of insurance
  • Showcasing the advancements made delivering efficient services within the insurance sector to encourage more Nigerians to take up insurance
  • Propagating insurance as the engine that drives key sectors and keeps them in business

Odukale, who is also the managing director/chief executive of Leadway Assurance Company Limited added:

“The low insurance penetration rate in Nigeria is as a result o the wide financial protection gap; hence we must work hand-in-hand to ensure that risk protection and insurance education are readily accessible to the average man on the street. We need to look beyond making sales to reversing the negative perception many Nigerians have of the insurance industry.”

The rebranding project will also showcase insurance firms and chief executive officers operating in the industry, their contacts and create an avenue for them to respond to questions from members of the public.

 

spot_img
spot_img

Hot this week

Ecobank Nigeria @ 40: Group Unveils N60m in Cash Rewards Program for Customers

Ecobank Nigeria, a subsidiary of the leading pan-African banking...

GOCOP 2025: Conference on Governance Challenges, Prospects Set for October 9

The Guild of Corporate Online Publishers (GOCOP) has announced...

NCC Advances Cybersecurity Framework to Safeguard Nigeria’s Telecom Infrastructure

L-R: President, International Youth Parliament, Hon. Promise Digos; Chief...

Northwest: The Lion’s Share of Tinubu’s Projects

By Tanimu Yakubu Director-General Budget Office of the Federation The Lagos Illusion The...

From Devaluation to Domination: How Tinubu’s Exchange Rate Reforms Turned the Naira into Nigeria’s Export Engine

By Tanimu Yakubu When President Bola Ahmed Tinubu’s administration...

Topics

AMCON to Disengage Non-performing AMPs over N740bn Debt

Mr. Ahmed Kuru, Managing Director/CEO, Asset Management Corporation of...

NNPCL Alleges Co-ordinated Sabotage Campaign Against its Leadership

The Nigerian National Petroleum Company Limited (NNPC Ltd) has...

Promasidor Nigeria Named Best Corporate Social Responsibility Company 2014

In recognition of the enormous contributions of Promasidor Nigeria to the Isolo community of Lagos, Nigeria, the Osolo of Isolo Kingdom, the Council of Chiefs and the entire Isolo Kingdom have named Promasidor- The Best Corporate Social Responsibility Performing Company of The Year 2014.

African Airlines Report 1.3% Drop in 2018 Cargo Growth

African carriers saw freight demand decrease by 2.2%, in December...

NAIPCO 2022 Confab: The Importance of SMEs in Micro Insurance, Pension

As the November 3, 2022 date for the Annual National Conference...

Hero Lager Beer Wears a New Cork on Knighthood

Hero, a premium lager on the stable of International...

NAICOM, SEC Initiates Partnership to Drive Insurance Sector Reforms

The Commissioner for Insurance, Mr. Olusegun Ayo Omosehin paid...
spot_img

Related Articles

Popular Categories

spot_imgspot_img