Experts canvass close relationship with clients to boost insurance profitability

From left: Former President Chartered Insurance Institute of Nigeria (CIIN) Sunny Adeda; President/Chairman Nigeria Institute of Marketing (NIMN) Ganiyu Koledo; Former Managing Director Continental Reinsurance ; Director-General Nigerian Insurers Association (NIA) Sunday Thomas and Deputy Director (A&P) National Insurance Commission (NAICOM) Leo Akah at the event.

Chuks Udo Okonta

Insurance operators have been urged to relate closely with consumers to ascertain their needs, serve them better and enhance the industry’s profitability.

President/Chairman Nigeria Institute of Marketing (NIMN) Ganiyu Koledo, in a paper entitled: ‘Marketing and Sales of Insurance as an Intangible Product’, delivered at Insurance Consumers Forum (ICF) in Lagos, said insurance business will thrive when operators carry out research to find out whether the public like the products they offer.

He called on insurers to keep the data of their clients and celebrate with them during their birthdays and other relevant ceremonies. He urged operators to train their staff on the use of latest technology and ensure they are well quipped before they are sent to the public.

Koledo noted that adherence to marketing strategy would enable insurers relate closely with the public and enhance the level of information between both parties.

Former President Chartered Insurance Institute of Nigeria (CIIN) Adeyemo Adejumo , who represented the Chairman of the event, Ogala Osoka, said operators have not fared well in the area of relationship with clients, adding that no insurance company has ever sent birthday wishes to him.

He also called on operators to intensify efforts in the area of Corporate Social Responsibility (CSR), stressing that when clients are convinced of the good deeds by insurers they would patronise them.

Adejumo solicits government’s support for the industry through enforcement of laid down rules. 

Programme producer Almond Productions, Faith Ughwode, who organised the event, said the platform was created to strengthen the relationship between insurers and the public, stressing that the knowledge gained at the event would assist the government, insurers and the public.