Experts task operators on product innovation

The Chief Consultant of Biodun Adedipe Associates, Dr. Biodun Adedipe has advised the insurance and pension industries to explore opportunities created by the COVID-19 Pandemic to grow the two sectors.

Adedipe who spoke on ‘Prioritising Excellent Customer Services in Insurance and Pension Businesses’ at the 6th edition of the Business Communications Conference in Lagos, said that the sectors could witness the required growth and contribute significantly to the economy if the operators embrace innovation in product development and customer service.

He said the type of product a company offers and the service it renders determine whether its customers will return or not.

He emphasized what the operators in the two sectors could do to win customers and retain them and remain profitable.

He said: “When a customer is complaining, the message is not that I want to leave to somewhere else. The interpretation of customer complaints is that I want you to improve on your service delivery.

“When customers are complaining, therefore, don’t treat them as antagonists but take it that they are telling you they want to go elsewhere. Every customer who complains is passing a message to the operator to improve. The ones that want to go away won’t complain to you. What operators should do to win customers and retain them is to meet their needs. What they need is peace of mind, not the product you are selling.”

The Chairman of the Nigerian Insurers Association (NIA), Ganiyu Musa stressed the importance of awareness to the growth of the insurance and pension sector.

“We are here today because insurance and pension education is a subject matter and it is relevant to almost all aspects of our national life,” he said.

Musa assured Nigerians that the insurance industry is evolving and is committed to its mandate, especially in the area of claim settlement.