Insurers target young populace in rebranding project

To drive home the benefits of insurance and to build a new generation of Nigerians that will appreciate and embrace insurance culture, the industry has commenced moves to rebrand.

Focus of the rebranding project, operators say, will target the young generation of Nigerians, particularly youths, by educating and enlightening them on the benefits of insurance.

Insurers Committee of the industry, who disclosed this after its bi-monthly meeting in Lagos, said building an insurance culture centred on the youths would guarantee the future of the industry.

The projection they said was based on the statistics that about 70 percent of Nigeria’s population was within the ages 0-35, which they said form the growth potential of the economy.

Ebelechukwu Nwachukwu, vice chairman, Insurers sub-committee on Media and Publicity, said the rebranding was about changing the mindset of Nigerians on the negative impression they had about the industry.

“We are also looking at our service delivery to ensure it is in line with expectation of the customers, and at the same time improve on our professional practice.”

She also informed that the committee was looking at extending insurance curricula to schools, as this would ensure that from early age Nigerians begin to relate with insurance, and eventually it would become part of them when they grow to adults.

Another decision at the meeting, Nwachukwu said the committee was looking deeply into the proposed risk based supervision championed by the National Insurance Commission (NAICOM), and the commission would release the draft guideline for players input this July.