By David Akinmola
The Nigerian Insurers Association (NIA) has said that the insurance industry has a role to play in de-risking critical sectors of the economy, and creating a resilient economic framework as the government embarks on various economic reforms.
He stated: “With the government outlining ambitious priorities for socio-economic transformation, there is a need for industries that can support this vision.
The new chairman of the association, Kunle Ahmed, gave the assurance at a media briefing to unveil his administration as the 26th chairman of the NIA, in Lagos.
According to him, globally, insurance has proven to be a powerful tool for stabilising economies, protecting investments, and providing the financial resilience that allows societies to thrive. But for him in Nigeria, depending on your source of data, insurance penetration remains strikingly low.
Ahmed, who is also the Managing Director of AXA Mansard Insurance Plc, said with the government outlining ambitious priorities for socio-economic transformation, there is a need for industries such as insurance to support the vision of the government.
He said, “As we move forward, the role of insurance in de-risking vital sectors, driving financial inclusion, and creating a resilient economic framework cannot be overstated.”
Ahmed said insurance is one of the solutions that can be deployed to confront some of these challenges. “Globally, insurance has proven to be a powerful tool for stabilising economies, protecting investments, and providing the financial resilience that allows societies to thrive.
However, In his strategies to position the insurance industry for growth, he said the association’s vision is to turn these challenges into opportunities for the growth of the industry and the prosperity of the nation.
“We will also focus strategically on customer-centricity services, digital transformation, commitment to excellence, education and awareness, advocacy and collaboration, he said.
According to him, enhancing customer satisfaction will be his administration’s priority as this will involve driving programs, initiatives, and policies to simplify the insurance onboarding process, improve claims payment, and ensure transparency in operations. “A satisfied customer is not just a repeat client; they will be the best advocates of the industry.
We will implement best practices that prioritise the customer journey, ensuring that our clients always feel valued and understood.”
On digital transformation, he said, “Our sector has historically been slow to adopt digital solutions. Moving forward, embracing digital innovation will be essential. We plan to launch an innovation challenge to invite solutions that streamline our processes and enhance customer experience. By collaborating with technology partners, we can reduce costs and improve service delivery, making insurance more accessible to all Nigerians.”
Emphasising commitment to excellence, Ahmed said, “As we embark on this journey, I want to assure you that our commitment to excellence will guide our actions. We will focus on improving our claims processes, ensuring we fulfill promises and exceed expectations.”
