By Adedapo Adesanya
The National Insurance Commission (NAICOM) has called on insurance brokers and executives to make their presence felt in rural areas across the country to drive the acceptance for insurance and also bring about financial inclusion.
This call was made by the Acting Commissioner of the body, Mr Sunday Thomas, when he welcomed a delegation of the Nigerian Council of Registered Insurance Brokers (NCRIB) led by Mrs Bola Onigbogi during a courtesy visit to the Commission in Abuja.
According to the Acting Commissioner, people will show interest and accept insurance if brokers who are the intermediate entities extend more of their operations to remote areas of the country, rather than urban areas.
He warned of the disadvantages that the overconcentration of insurance companies and brokerage firms in major cities and their reliance on government accounts posed in enabling people develop interests in insurance.
He added that there would not be effective enforcement of compulsory insurances in the hinterland with poor presence of underwriting and brokerage firms there.
Mr Thomas then advised insurance Brokers to be more creative in their product development initiatives so as to make insurance first line of consideration by Nigerians, irrespective of their location and financial status.
He said that he understood that insurance was subject to supply and demand but said that NAICOM would use its Zonal Offices to sensitise the public about the importance of insurance and urged that the supply side through insurance operators should be readily available when the market is opened.
He noted that with the presence of insurance operators in some states and local government areas, issues of building collapse, fire incidences in offices and market places, motor accidents, flood and other insurable disasters would be well taken care of and this would deepen the market.
Modupe Gbadeyanka