AIO tasks industry experts on continent’s insurance market

The Africa Insurance Organisation (AIO) has called on insurance stakeholders in the continent to unite and address the challenges bedevilling the insurance industry’s growth.

AIO president, Tope Smart, in his New Year message, said the insurance penetration rate in Africa remains low when compared with the global average.

To this end, Smart, who is also the Group Managing Director of NEM Insurance Plc, stressed that there is a need to bridge the gap of low insurance acceptance by addressing challenges confronting the sector across the African market.

He urged African insurance operators to renew commitment in the year 2022 to build their trust in AIO executives, as the industry is looking forward to a better industry image builder for the years to come.

However, the insurance industry is growing bigger, stronger, and more resilient, he stressed that ‘together, we are working on several projects which we believe will bring us closer and make us stronger and better.’

“So, it is with distinct pleasure that I join you in welcoming this New Year 2022. AIO will be celebrating 50 years of existence this year 2022 in Nairobi, Kenya and this is a milestone we need to celebrate in grand style. We have done much, and we will do more,” he pointed out.