Stakeholders implored to come out in words, deeds- ACAMB president

…..Wants insurance corporate affairs to meet the banks’
By Favour Nnabugwu
For insurance industry to take its pride of place in the nation’s economy, the sector’s stakeholders need to put heads together to simplify actions in words and deeds
President, Association of Communications and Marketing Professionals in Banks (ACAMB), Mr. Rasheed Bolarinwa in Ijebu-Ode, Ogun State at the 2022 Retreat oragised for Nigerian Insurance Association of Insurance & Pension Editors by the Insurance Industry Consultative Council, IICC said it is high time insurance sector let go the primitive way of doing business especially, packaging their products with the Media 
Bolarinwa  who delivered a paper on ‘Media As Catalyst For Insurance Inclusion’ wished that the Heads of Corporate Communications of insurance will meet with those of the banking sector so they can interact and share ideas about getting the best from the Media.
“I  think is high time corporate communications of the banks meet with the heads of corporate affairs of insurance. We need to meet and discuss issues about the sectors”
Bolarinwa who doubles as the Head Corporate Communications of Polaris Bank Plc said, “When all stakeholders in the risk ecosystem are deliberate, consistent and methodical in simplifying what insurance is all about in words and deed”
He said the industry is still at it low ebb in contribution to Gross Domestic Products, GDP while citing those of other country such as the United Kingdom’s insurance industry which contributes about 20 percent of the total GDP of the country. In South Africa, it contributes 17 percent of the total GDP and, in Kenya, the industry contributes 3.4 percent of the nation’s GDP.
“Sadly, after 62 years of independence, the Nigerian insurance industry is still crawling with dual problems of little knowledge of its values and acceptance by the populace mostly ignorant of the values of insurance”.
“These  are among the key hinderers of mass patronage, growth of premium generation and meaningful contributions to the Gross Domestic Product (GDP) of the economy Insurance will only take its pride of place as big a contributor to the
nation’s Gross Domestic Product (GDP) as it applicable in other jurisdictions”
One of the major source of creating awareness, he pointed out is the mass media. “The mass media are vehicles and instruments for the socio-economic
transformation and re-engineering of any society”.
For a country that is yet to develop like Nigeria, he said, the media is required and, indeed, is fundamental for the penetration of important national agendas.
“The most prominent and widely known media of mass communication in contemporary Nigeria are newspapers, magazines, radio, television, and digital communication platforms and there is the need to further strategically explore them”
According to him, “The Media is a strategic vehicle for dialogue and the acceleration of inclusive growth in any society.
“The media can continuously set agenda for the public to know more about the importance of insurance and to accept different risk-protection values inherent in modern insurance policies”
“This  moment is the most critical time for a more germane approach to how to communicate the essence of insurance to Nigeria’s huge population if we are truly concerned about achieving measurable and optimal penetration and reasonable acceptance”
“Social  media marketing is a great way for insurance companies to
unleash their digital marketing plan. A study has revealed that customers
increasingly spend more time on social media. If that is the case, social
media platforms are key for insurance policy marketers and the general
public”
“A dedicated jointly owned media vehicle should be created by all stakeholders to serve as a news agency on insurance content shared with other media houses”
“Regulatory  bodies in the Nigerian insurance industry are expected to partner the Nigerian media industry towards creating a diverse and inclusive newsroom; that has content development and coverage strategy that builds audience trust in insurance and provides for a better representation of different societies”
Welcome address by Chairman IICC, Edwin Igbiti on 2022 Retreat for NAIPE in Ogun State

WELCOME ADDRESS BY MR. EDWIN IGBITI CHAIRMAN OF THE INSURANCE INDUSTRY CONSULTATIVE COUNCIL (IICC) AT THE 2022 IICC MEDIA RETREAT, HELD AT GRAND INN AND SUITES, IJEBU-ODE, OGUN STATE, ON NOVEMBER 26, 2022

PROTOCOLS

Distinguished Members of the IICC,

Members of the National Association of Insurance and Pension Editors,Erudite Speakers Ladies and Gentlemen, It is with great pleasure I welcome you to the 2022 IICC Media Retreat for Insurance Journalists even as I convey the goodwill of the various Arms of the Insurance Industry under the umbrella of the Insurance Industry Consultative Council (IICC) to you.

This Retreat is organised annually by the IICC to serve as a platform to engage and recognize the contributions and the key roles the media has been playing as an instrument for awareness creation and education for insurance in Nigeria. It is also a great opportunity to feel the pulse of the public through the lens of the media.

It is against this backdrop that the IICC ensures its commitment to this annual gathering remains an ever-present feature in the calendar of the industry. This forum also serves the objective of further unifying all Arms of the Insurance Industry who have come together under one umbrella, the IICC, in order to ensure unity and single-mindedness in promoting the insurance industry agenda. It is vital to state that the IICC was formed with the purposes targeted at enhancing the profile of the industry as well as boost its significance to the nation’s economic growth. The objectives include:

1. Acting as an industry voice for national matters. 2. Acting as a platform for intra industry conflict resolution. 3. Promoting the industry’s image and growth agenda. 4. To take up and assume any other role that may serve the best interest of the insurance industry. The crucial position the media plays in the economy and society at large cannot be over emphasized.

Indeed, the media poses as a veritable authority for agenda setting, public education, sensitization and awareness creation. It is in the light of the above, that the theme for this retreat “Media as Catalyst for Insurance Inclusion”, comes to limelight. The media is a powerful catalyst for social change and equally an effective tool for insurance inclusion that the industry desires.

Hence, the need to continually carry the media along with the various initiatives and developments in the industry for good coverage and projection.At this point, I like to use this opportunity to express our profound appreciation to the media for its inestimable support over the years especially, you the insurance industry Journalists who have constantly employed your expertise and in-depth knowledge about the industry to objectively report the trends and opportunities as well as enlighten the public about the values of insurance. You will agree with me that there has been growth in the industry despite the numerous economic recessions, the effects of the COVID-19 and the #ENDSARS protests which resulted into millions of claims. The insurance industry has stood as one of the most resilient and fast expanding sectors in the nation’s economy.

As the industry witness expansion, we equally need you the media to keep promoting these achievements for the good of the common goal of the industry.We are partners and we urge you all to use your reputable platforms to consistently announce the gospel of insurance and its benefits to the public so that we can attain the desired penetration rate in Nigeria. When the industry is booming from our efforts, it will also be a common joy and gain for us all. Hence, the onus is on all of us, everyone in this room and our networks beyond it to ensure that the insurance industry attains its pride of place in the economic ecosystem. At this juncture,

I would like to extend my heartfelt appreciation to all our astute speakers who will be sharing their wealth of experience with us today. I am positive we will learn a lot from their expertise.

Thank you for honouring our invitation to this retreat and implore you to take maximum advantage of the knowledge that would be shared here for the advancement of your profession as modern-day information managers.

Thank you all for your attention and God bless.Mr. Edwin Igbiti, ACII, FIIN Chairman of Council Insurance Industry Consultative Council (IICC)

Faces @ the 2022 IICC media retreat for NAIPE in Ijebu-Ode

The Insurance Industry Consultative Council organised a two day retreat for the Nigerian Association of Insurance & Pension Editors  NAIPE  for 2022 at Grand inn Hotel, Ijebu- Ode, Ogun State.

CAPTION:

L- Director-General, Nigerian Insurers Association, Mrs. Yetunde Ilori and President Chartered Insurance Institute of Nigeria, Mr. Edwin Igbiti at the IICC seminar for Nigerian Association Insurance and Pension Editors, NAIPE at Ijebu-Ode, Ogun State

L- Director-General, Chartered Insurance Institute of Nigeria, Mrs. Abimbola Tiamiyu and Executive Secretary, Nigerian Council of Registered Insurance Brokers, Tope Adaramola at the IICC seminar for Nigerian Association Insurance and Pension Editors, NAIPE at Ijebu-Ode, Ogun Stat

L,-Dr. (Mrs.) Olufunke Oyeneye, Head of
Pharmacy, Oba Ademola Hospital Abeokuta an operator and Director-General, Nigerian Insurers Association, Mrs. Yetunde Ilori

L-  Mr Davis Iyasere, Head Corporate Communication of the Nigerian Insurers Associatiin, NIA; Director-General, Chartered Insurance Institute of Nigeria, Mrs. Abimbola Tiamiyu; Mr. Rasheed Bolarinwa, Head Corporate Communications, Polaris Bank Plc, and President, Association of Communications and Marketing Professionals in Banks (ACAMB). Mr. Muda Yusuf, Former DG of Lagos Chamber of Commerce and Industry (LCCI);  President Chartered Insurance Institute of Nigeria, Mr. Edwin Igbiti;   Dr. (Mrs.) Olufunke Oyeneye, Head of Pharmacy, Oba Ademola Hospital Abeokuta; Director-General, Nigerian Insurers Association, Mrs. Yetunde Ilori and Executive Secretary, Nigerian Council of Registered Insurance Brokers, Tope Adaramola during the event

NAIPE members at the rvent

IICC tasks Media to support Insurance Industry’s growth

By Favour Nnabugwu

 

 

 

The Chairman of the Insurance Industry Consultative Council, IICC, Mr Edwin Igbiti has enjoined the Media to be part of the industry’s growth agenda to help deepen insurance penetration in the country.

Igbiti who is also the President and Chairman in Council of the Chartered Insurance Institute of Nigeria (CIIN) in Ijebu-Ode, Ogun State  during the Welcome Dinner/Gala Night of the 2022 Media Retreat with the theme “Media As Catalyst For Insurance Inclusion” organised by IICC for the member of the National Association of Insurance and Pension Editors (NAIPE).

Igbiti described the media as critical to the industry’s growth agenda while calling on the members of NAIPE to promote and project the industry’s activities in their reports for the growth of the industry and national economy.

“We recognize the importance of the media In the growth of any industry. We know we cannot achieve our growth agenda without the media”.

“The essence of this gathering is for us as an industry to bring you together to brief you on the activities of the industry and our plans for the future.

“It is, therefore, expected that as journalists, you are to tell our stories in your reports and analyses because we are in this together and we will continue to work together as partners in progress for the progress of the industry and the growth of the national economy.

“You have been trying but we need you more. You have to project this industry in the way and manner we want it to be,” Mr Igbiti appealed.

On the performance of the industry, he said although there has been an improvement in terms of numbers, but judging from the nation’s population and demographic, insurance penetration in Nigeria is still very low which he said is caused by the high level of poverty in the country.

At the event included the representatives from the various arms of the industry namely the Nigerian Insurers Association (NIA), represented by the Director General, Mrs Yetunde Ilori; Nigerian Council of Registered Insurance Brokers (NCRIB) represented by the Deputy President, Mr Tunde Oguntade; Institute of Loss Adjusters of Nigeria (ILAN), represented by its President, Mr. Dipo Olanrewaju.

Others who graced the occasion included the DG, CIIN Mrs Abimbola Tiamiyu; Executive Secretary/CEO, NCRIB, Mr Tope Adaramola; Assistant Director, Corporate Communications & Human Resources/Administration, NIA, Mr Davis Iyasere, among others.

The IICC was inaugurated in 2013 to act as the unifying voice of the insurance industry, representing it on national issues affecting the insurance industry, taking up and assuming other roles that would serve the best interest of the industry in Nigeria and providing lasting solutions to challenging issues within the insurance sector.