Insurance experts seek media support to drive industry’s growth

The Chairman, Governing Council, Insurance Industry Consultative Council (IICC), Muftau Oyegunle, has called for support from the media professionals to increase insurance penetration in Nigeria.

Oyegunle, who is also the President/Chairman, Chartered Insurance Institute of Nigeria (CIIN), made the call at a retreat in Ijebu Ode, Ogun State, themed ‘Changing the Face of the Media; The New Expectations’.

“As the world continues to evolve, the expectation from media as a key component in the wheel of economic growth equally changes.

“It is upon this notion that the theme for the retreat was conceived. There is a need for knowledge and creativity to lead the way as well as the adoption of artificial intelligence in amplifying the content that you create.”

According to him, the onus is on all stakeholders in the sector and its network to ensure that the industry attains its pride of place in the economic ecosystem.

Oyegunle said that the COVID-19 pandemic had shocked even the most prepared organisations and industries in the world, as the virus and its effects remain ever-present with us.

He said while the recapitalization plan continued to be on the front burner, the outbreak of the Coronavirus had made the delicate situation even more difficult.

“However, there is retained optimism that the exercise will drive positive growth in the industry.

“As custodians of the news, media play a key role in shaping the conversations within the industry now and post recapitalisation,” Oyegunle said.

Also, the President of the Nigerian Council of Registered Insurance Brokers (NCRIB), Mrs. Bola Onigbogi, urged the media to see themselves as critical stakeholders of the industry. Onigbogi, who was represented by the Vice President, NCRIB, Tunde Oguntade, urged journalists to be objective in their report, as accurate and critical analyses of activities would help the industry to grow.

The Director-General, Nigeria Insurance Association (NIA), Yetunde Ilori, who was represented by the Head, Human Resources/Administration and Corporate Communication, NIA, Davies Iyasere, charged journalists to ensure objectivity, fairness and balance in their reports. Ilori said IICC was formed to raise the profile of the industry as well as increase its relevance to the nation’s economic growth.