Registered brokers body extends propagation of insurance to schools

In a bid to extend the frontiers of public awareness and acceptance of insurance, the Nigerian Council of Registered Insurance Brokers (NCRIB), has reached out to some higher institutions to buoy the level of assurance education among students.

The Council, during a visit to the University of Lagos, distributed insurance textbooks and literatures to the Department of Actuarial Science and Insurance, to enhance the intellectual and professional knowledge of students about insurance.

The low penetration of insurance and attendant poor contribution to the nation’s gross domestic product (GDP), has often been attributed to lack of awareness of the importance of insurance to individuals and corporates.

The President of the Council, Kayode Okunoren, who led the delegation, disclosed that the Council conceived the initiative as part of its Corporate Visibility project, is borne from the need to engage strategic stakeholders about the value of insurance.“We reckon that students constitute a critical stakeholder in the propagation of insurance, as they represent the future providers and consumers of insurance.”

He disclosed that the role of the brokers is crucial in the insurance value chain, and as such, they should be engaged for clients to maximise the value of their insurances.
Okunoren promised that the Council would not relent on its oars to deepening insurance awareness among the populace because of its importance to the development of the nation’s economy.

The Head of Department, Actuarial Science and Insurance, University of Lagos, Prof. Ade Ibiwoye, appreciated the Council’s donation of books, noting that the population of students seeking admission into the institution yearly was an indication of its relevance in training the nation’s workforce.

In a related development, the President also led the Council’s delegates to the Lagos State Polytechnic, where he also donated insurance textbooks to the Department of Insurance.