Insurance coverage corporations have been suggested by the Nationwide Insurance coverage Fee (NAICOM) to embrace the usage of automated advertising to ‘upscale the worth proposition’ of the Nigerian insurance coverage trade.
This urge follows the statement of the drop in insurance coverage premiums in the course of the pandemic.
The recommendation was issued by the Commissioner for Insurance coverage, Sunday Thomas, who mentioned that there needs to be a rtehink of the traditional strategies used to promote insurance coverage to Nigerans.
Thomas acknowledged that this might assist the trade in the reduction of on in-person gross sales and advertising.
“As well as, one of many main challenges for insurers was the shortcoming to market/promote insurance coverage merchandise to shoppers which, in flip, lowered the premium earnings.
“This has necessitated the necessity for a strong on-line automated advertising and suggestions system to be able to scale back the dependence on in-person gross sales and advertising,” he mentioned.
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“There may be, subsequently, the necessity for a evaluate of standard insurance coverage merchandise to be able to upscale the worth proposition of the Nigerian insurance coverage trade,” he added.
He additionally famous that trade gamers wanted to arrange for unforseen occasions and be much less blindsided.
Thomas highlighted the advantages of distant work, particularly in the course of the pandemic, noting that it was essential that the trade adopted the digitalisation of its processes.
