Business Journal


NCRIB Lagos Area Committee, Insurfeel Partner on Donation of Insurance Policies to Students

Demola Olutusin


Lagos Area Committee of the NCRIB

The Lagos Area Committee of the Nigerian Council of Registered Insurance Brokers (NCRIB) and Insurfeel Initiative are partnering on promotion of insurance education through donation of free policies tagged ‘School Care Cover’ to students.

The partnership would enable deserving students enjoy free insurance protection on personal accident while in school, on vacation and anywhere within Nigeria and also provide payment of school fees to the named beneficiaries of the insured parent/ guardian in event of the following occurring: permanent disability resulting from an accident and death – whether by accident or natural means.

Chairman, Lagos Area Committee of the NCRIB, Demola Olutusin, said the Area Committee is committed to enhancing education and safety of students, adding that the partnership would impact lives of students, the insurance industry and by extension the nation.

According to him, the initiative would also enable the students understand and feel the touch and benefits of insurance which remains the best tools to mitigate risks.

He said the Area Committee has adopted quiz competitions amongst schools as a means to introduce students to insurance early in life.

The Promoter of Insurfeel Initiative, Mr. Chuks Udo Okonta, said the partnership is part of the advocacy strategy of the initiative, stressing that the advocacy strategy entails partnering organisations, associations and groups to adopt donation of free insurance policies to the uninsured.

He noted that Insurfeel Initiative presently donates two unique insurance policies – School Care Cover and Uni Personal Accident Cover to individuals who have never had much experience on insurance for them to feel how insurance works.

He implored organisations, associations and groups, especially within the insurance sector to embrace the initiative and use it to offer insurance products as souvenir to the public as against donation of products from other sectors, whilst complaining that insurance penetration is low.

According to him, Insurfeel Initiative has recently donated free insurance policies to members of the public and is committed to donate more even as it promotes the advocacy strategy to get individuals, organisations; associations and groups to also make donations.

Insurfeel, an initiative developed by the Publisher of Inspenonline, Chuks Udo Okonta, was designed in line with – ‘The Suya Seller Strategy’ – which entails tasting before buying. It stemmed from a research model conducted over a certain period, which showed that people who have had positive experience on how insurance works seem to believe and easily embraced the system. This research therefore, necessitates the need to extend insurance experience to more people so as to deepen insurance penetration, provide safety and enhance insurance industry’s profitability.

Insurfeel is targeted towards specific individuals, such as students in secondary schools, teachers and people with distinct impact on lives and the society. They would be selected due to their outstanding performance and contributions to human growth.The initiative is open to people committed to philanthropy.

The initiator said: “It is my belief that insurance remains one of the best instruments to fight poverty and make the society a comfortable place for mankind. Through Insurfeel, organisations can by means of Corporate Social Responsibility (CRS) donate insurance policies as souvenir and gifts to deserving members of the public. Groups such as Non-Governmental Organisations (NGO) committed to improved wellbeing of the citizenry should also leverage Insurfeel to assist the needy to mitigate their risks. Insurance companies should leverage Insurfeel to donate their products as against the present trend where products from other sectors are donated to the public.”

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