“Nigerians have not accepted insurance as a life necessity because we have not been able to explain insurance to the public.” This status quo description of the state of the industry as it relates to insurance embrace points to the way not taken in the sale of insurance to the public.
Nigerian Insurers Association Chairman, Olusegun Omosehin put this clear at a recent media briefing. He said there is a thin line between clear and down to earth explanation in the presentation of insurance to the people and straight jacket explanation that does not resonate with the people. Once people don’t see the connection he said the next line of action is to disconnect. The disconnect he said sadly has become the common act by the public.
Harping that the market has a duty to care for fluid explanation, Omosehin said he had a great opportunity to bring insurance to meat merchants at Okoba abattoir several years ago and after explaining the benefits of insurance and at that meeting term assurance to them almost all of them made up their mind to purchase insurance and he said they matched their promise with purchase afterwards.
He explained he let them know that insurance is the best gift a common man could give to give to his family that in the event of his demise they a secure from the vagaries of life and society gaps.
Broadening their minds he said he let them know that they might not be millionaires while they are alive but their family stands to be millionaires after their demise and have the guarantee of going to the best universities in Nigeria.
Omosehin said he felt challenged that as an industry the practitioners have not been able to break the jinx for people to get the clear understanding of the value “we are putting on the table. We are putting so much value on the table yet people cannot understand it.
“In fact if there is anytime people should buy insurance its now. This is the time you can actually get value on those policies with very minimal amount,” he stated.
