Saturday 21st January, 2017
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Insurance sector's N300m rebranding project on course - NIA boss

Insurance sector's N300m rebranding project on course - NIA boss

The Chairman, Nigerian Insurers Association (NIA), Mr. Eddie Efekoha has said that the N300 million insurance industry’s rebranding project is on course urging members of Association of Registered Insurance Agents (ARIAN) to embrace the project aimed at changing public perception on insurance business.
 
Efekoha, who said this in Lagos, noted that the project when implemented would impact the entire industry including the agency operations adding that all insurance operators have to make their contributions to enable the project succeed.
 
According to him, the project is not just meant for underwriters, noting that even a reinsurance firm has gone ahead to launch a campaign aimed at portraying the industry in good light, a step he urged other stakeholders to emulate.
 
Meanwhile, the President of ARIAN, Mr. Olamerun Gbadebo, has accused proponents of the project of not including his members in the project, saying the effort of the proponent of the project would amount to futility, if issues like the internal structure of the agency system; remuneration of agents and review of brand and marketing strategy of agency are not properly addressed.
 
Gbadebo, who also expressed misgivings over exclusion of the association in the project, urged drivers of the project to first rebrand internal mechanism of insurance practice, before embarking on the proposed project.
 
According to him, the allegation that conduct of agents in the past contributed to poor image of the industry, should prop drivers of the project to engage agents in remaking the image presently.
 
He stressed that since agents are field workers, they should be brought in as change ambassadors in the new concept.
 
He also urged underwriters to critically examine the remuneration package of agents, stressing that on a weekly basis, underwriters put up advertorials for positions of marketing executives, but never get people to recruit, irrespective of the high rate of unemployment in the country.

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