Insurers to review strategies, new trends for growth opportunities

Post economy rebasing, the Nigerian insurance industry would be looking at strategies, new trends that offer growth opportunities that would enable the sector attains stronger position in the economy.

The event being the 2014 professional forum of the Chartered Insurance Institute of Nigeria(CIIN) with the theme “The Insurance Industry: New Trends, New Strategies” will enable professionals access the products in the offering, distribution channels and consumer acceptance.   

The annual Professionals’ Forum organised by CIIN has remained the single most crucial gathering of professionally qualified insurance practitioners in Nigeria. Since 1991 when the forum became a reality, it has offered immense opportunities for robust deliberations on the issues pertinent to the growth and development of the Insurance Industry, the profession and practice.

The 2014 edition of the forum, scheduled for Wednesday September 10 to Saturday September 13, Joseph Obah, head of corporate communications, said aptly captures the post economy rebasing mood in the insurance business environment in Nigeria in terms of new product trends and strategies of harnessing the perceived opportunities.

Bola Temowo, president, CIIN, has said that the nation’s financial inclusion strategy may top the agenda in view of the human capital realignment imperatives for driving the financial inclusion products such as micro insurance and Takaful.

Temowo stated that the products remain relatively unknown to the critical mass in the grassroots, despite being the targets of the products. He argued that “a whole lot must be done in order to bring these products to the front burners of our operations in order to deepen insurance penetration in the country.”

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