• Contact Us
  • About
  • Advertise
  • Privacy & Policy
Friday, May 23, 2025
  • Login
E3P Motor Insurance
  • Home
  • Insurance
  • Pension
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
  • Home
  • Insurance
  • Pension
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
No Result
View All Result
Business Post
No Result
View All Result
Home Insurance

Insurance will Plummet Without Customer Friendly Culture: Leadway

Nwanne Ikemefune by Nwanne Ikemefune
April 16, 2021
in Insurance
0 0
0
0
SHARES
99
VIEWS
Share on FacebookShare on TwitterShare on WhatsApp

Insurance now and future, is driven by data and analytics and customer friendly business hub that is wired through digital channels relevant to consumers and sometimes, create instant customer satisfaction due to digital customer-centric trend..

This was the plum of the virtual training for journalist hosted by Leadway Assurance Company Limited, yesterday in Lagos. Capturing the future in the establishing topic, “Insurance For The Future In 2021” Leadway’s principal investment and strategy icon, Akinyemi Alebiosu with special focus on Nigeria said: “Data is the new oil and underwriting in the future is going to be driven by data and analytics. We are getting to a point where we will be using historical records, using robots, artificial intelligence in making decisions on pricing, type and extent of risk we take.”

Alebiosu’s screen showing the future, points insurance companies to the conurbation of large pools of data that should be analysed to make meaning and then, “prepare to create predictive models, at the end of the day make decisions that will make the product better.” He zooms in, “For example, in analysing the data, I want to know the pain point of our customers, what is their biggest concerns, how am I able to create products that meet these needs at the lowest cost because if I have a proper data I can predict incidents of loss and properly price and know what their price point is.”

What follows is this: “At the end of the day if we use data and analytics correctly in our underwriting process, the customer will be happy, the underwriter will be happy and all the stakeholders will benefit from the insurance ecosystem.”

In his digital mirror of future dimension digital displays, agents and brokers who ignore the digital exploration sphere are in the background while the social media channels are in the foreground. According to him, the current dominance of the former will be challenged if they ignore the digital platforms, as the new distribution channels will become prominent. But that chance hangs as dominance of brokers and reinsurance brokers in the developed market remains unchallenged because they have integrated the digital dimension into their operations. This is reinforced by the expected mega merger of Aon Plc and Willis Towers Watson (WTN) as would be largest insurance and reinsurance broking giants in the global market when their $30bn merger is finally approved by EU.

Therefore, he said companies that will fit tomorrows demand, including insurance broking firms, need to consciously gravitate to customers by creating digital channels that are customer friendly with sometimes instant satisfaction. He said Leadway is focused on that. “We want to see your problems, your risks and we want to solve them.”

For the executive director, general business, Ms Adetola Adegbayi, who always harp that insurers are in the business to pay claims as a first line charge, said the apathy to pure life products is misplaced attitude. She said life insurance helps people to build a legacy they will handover to those family members following after.

Adegbayi said pure life insurance is like buying money. Buying life insurance she reiterates is buying money and pure life gives better legacy for the family.

Previous Post

Reinsurance Rates May Increase Into 2022, But Momentum To Wane: Fitch

Next Post

Global M&A Activity Enjoys “Remarkable Resurgence” In Q1-WTN

Nwanne Ikemefune

Nwanne Ikemefune

Related Posts

NEM Surges, Makes First Non Life to Hit Over N100bn GPI, Pays N25bn Claims, Profit N33.7bn
Insurance

NEM Surges, Makes First Non Life to Hit Over N100bn GPI, Pays N25bn Claims, Profit N33.7bn

May 21, 2025
SanlamAllianz Nigerian Integration Sparks Industry Buzz
Insurance

SanlamAllianz Nigerian Integration Sparks Industry Buzz

May 20, 2025
Change of Guard at Enterprise Life Assurance, Transits From Consolidation to Growth
Insurance

Change of Guard at Enterprise Life Assurance, Transits From Consolidation to Growth

May 15, 2025
Next Post
M&A

Global M&A Activity Enjoys "Remarkable Resurgence" In Q1-WTN

Please login to join discussion
NEM INSURANCE NEM INSURANCE NEM INSURANCE
  • Trending
  • Comments
  • Latest
Loss Adjusters Receive Charge To Match Speed Of New Developments

Loss Adjusters Receive Charge To Match Speed Of New Developments

April 27, 2024
tope smart NIA former chairman

Insurance Milestone: A Beacon To Follow

April 3, 2022
Custodian Investment To Acquire 51% Stake In UACN Property

Penetration: Operators Call For Insurance-In-Action

November 2, 2022
NCRIB And Universal In Pictures

NCRIB And Universal In Pictures

May 4, 2024
Reinsurance Rates May Increase Into 2022, But Momentum To Wane: Fitch

Reinsurance Rates May Increase Into 2022, But Momentum To Wane: Fitch

April 13, 2021
ncrib logo

NCRIB Sets The Stage For Adaramola’s Tenure

June 7, 2023
Preferred PenCom Logo

PenCom Board Crafted To Hedge Setback

February 1, 2021
Linkage Assurance Aligns With Brokers For Growth

Linkage Assurance Aligns With Brokers For Growth

December 6, 2021
PTAD Wipes 21,227 Parastatals Pensioners From Payroll

PTAD Wipes 21,227 Parastatals Pensioners From Payroll

January 31, 2021
Preferred PenCom Logo

PenCom Board Back-To-Work Pass, Gets Tick Over

May 4, 2025
Anchor MD Loses Father

Anchor MD Loses Father

2
Regulators Clear Guinea Insurance  For Private Placement

Regulators Clear Guinea Insurance For Private Placement

2
NAICOM Helmsman Thomas Leads African Insurance Supervisory Authorities

NAICOM Inaugurates Discount Rate Committee To Ease Insurance Contracts Under IFRS 17

2
Insurance Mastercard Joe Irukwu Passes On

Insurance Mastercard Joe Irukwu Passes On

2
AIICO Head office

Car Insurance Takes A New Turn With AIICO, ETAP ‘Redefine Partnership’

2
Authenticity Of Motor Policy, Technology Crowns Policyholders Verifying Partners

Authenticity Of Motor Policy, Technology Crowns Policyholders Verifying Partners

2
NAICOM Helmsman Thomas Leads African Insurance Supervisory Authorities

NAICOM Helmsman Thomas Leads African Insurance Supervisory Authorities

2
Ebere Nwoji Makes It Back To Back As 2023 Print Media Reporter

Ebere Nwoji Makes It Back To Back As 2023 Print Media Reporter

2
Loss Adjusters Receive Charge To Match Speed Of New Developments

Loss Adjusters Receive Charge To Match Speed Of New Developments

2
NAICOM Helmsman Thomas Leads African Insurance Supervisory Authorities

Federal Government & NAICOM Working On New Guidelines For Insuring Government Assets

2
Guinea Insurance New Dawn of Shared Vision, Strategic Priorities Parades

Guinea Insurance New Dawn of Shared Vision, Strategic Priorities Parades

May 22, 2025
AIICO Head office

Life Insurance Explained: Why Staying the Course Matters More Than Early Withdrawal

May 21, 2025
Image Spin: Ghana X-rays Nigeria’s Marine Cargo Underwriting

Image Spin: Ghana X-rays Nigeria’s Marine Cargo Underwriting

May 22, 2025
NEM Surges, Makes First Non Life to Hit Over N100bn GPI, Pays N25bn Claims, Profit N33.7bn

NEM Surges, Makes First Non Life to Hit Over N100bn GPI, Pays N25bn Claims, Profit N33.7bn

May 21, 2025
SanlamAllianz Nigerian Integration Sparks Industry Buzz

SanlamAllianz Nigerian Integration Sparks Industry Buzz

May 20, 2025
Change of Guard at Enterprise Life Assurance, Transits From Consolidation to Growth

Change of Guard at Enterprise Life Assurance, Transits From Consolidation to Growth

May 15, 2025
emPLE Partners LASPARK to Create And Sustain Green Lagos

emPLE Partners LASPARK to Create And Sustain Green Lagos

May 15, 2025
Public, Buildings Under Construction Joint Committee Insurance Pushes For Database For Underwriting Ease

Public, Buildings Under Construction Joint Committee Insurance Pushes For Database For Underwriting Ease

May 14, 2025
Compulsory Insurance: Quantity Surveyors Come Onboard NAICOM Platform For Integrated Insurance

Compulsory Insurance: Quantity Surveyors Come Onboard NAICOM Platform For Integrated Insurance

May 14, 2025
Sovereign Trust Steams Ahead With Continuous Manpower Development, Focus Optimal Risk Management

Sovereign Trust Steams Ahead With Continuous Manpower Development, Focus Optimal Risk Management

May 12, 2025
ADVERTISEMENT

Recent News

Guinea Insurance New Dawn of Shared Vision, Strategic Priorities Parades

Guinea Insurance New Dawn of Shared Vision, Strategic Priorities Parades

May 22, 2025
AIICO Head office

Life Insurance Explained: Why Staying the Course Matters More Than Early Withdrawal

May 21, 2025
Image Spin: Ghana X-rays Nigeria’s Marine Cargo Underwriting

Image Spin: Ghana X-rays Nigeria’s Marine Cargo Underwriting

May 22, 2025
NEM Surges, Makes First Non Life to Hit Over N100bn GPI, Pays N25bn Claims, Profit N33.7bn

NEM Surges, Makes First Non Life to Hit Over N100bn GPI, Pays N25bn Claims, Profit N33.7bn

May 21, 2025
SanlamAllianz Nigerian Integration Sparks Industry Buzz

SanlamAllianz Nigerian Integration Sparks Industry Buzz

May 20, 2025
Change of Guard at Enterprise Life Assurance, Transits From Consolidation to Growth

Change of Guard at Enterprise Life Assurance, Transits From Consolidation to Growth

May 15, 2025
emPLE Partners LASPARK to Create And Sustain Green Lagos

emPLE Partners LASPARK to Create And Sustain Green Lagos

May 15, 2025
Public, Buildings Under Construction Joint Committee Insurance Pushes For Database For Underwriting Ease

Public, Buildings Under Construction Joint Committee Insurance Pushes For Database For Underwriting Ease

May 14, 2025
Compulsory Insurance: Quantity Surveyors Come Onboard NAICOM Platform For Integrated Insurance

Compulsory Insurance: Quantity Surveyors Come Onboard NAICOM Platform For Integrated Insurance

May 14, 2025
Sovereign Trust Steams Ahead With Continuous Manpower Development, Focus Optimal Risk Management

Sovereign Trust Steams Ahead With Continuous Manpower Development, Focus Optimal Risk Management

May 12, 2025
Insurance Industry Surrounds Aviation Risks as NAICOM Unveils Landmark Regulation For Leased Aircrafts,

Insurance Industry Surrounds Aviation Risks as NAICOM Unveils Landmark Regulation For Leased Aircrafts,

May 12, 2025
Sovereign Trust Steadily Pushes Insurance as Unbroken Membrane From Early Life, Makes Igbobi College Students Signpost

Sovereign Trust Steadily Pushes Insurance as Unbroken Membrane From Early Life, Makes Igbobi College Students Signpost

May 11, 2025
Cassava Microinsurance Makes High Net-worth Presence at Retirement Summit

Cassava Microinsurance Makes High Net-worth Presence at Retirement Summit

May 11, 2025
PenCom Lauds Lagos Lead in CPS Implementation, Wants Periodic Pension Raises Extended to CPS Retirees

PenCom Lauds Lagos Lead in CPS Implementation, Wants Periodic Pension Raises Extended to CPS Retirees

May 8, 2025
NEM Insurance NEM Insurance NEM Insurance
Business Post

We connect brands with buyers and sellers of insurance, pension and also project insurance and allied Businesses to the trending generation. We help the various public to adapt to the constant changes as it would impact, and also enable advertisers to connect, engage and target opportunities on line , in print and in person.

Browse by Category

  • Business Unlimited
  • Feature
  • Insurance
  • News
  • OIL & ENERGY
  • Pension
  • Travel
  • Uncategorized

Recent News

Guinea Insurance New Dawn of Shared Vision, Strategic Priorities Parades

Guinea Insurance New Dawn of Shared Vision, Strategic Priorities Parades

May 22, 2025
AIICO Head office

Life Insurance Explained: Why Staying the Course Matters More Than Early Withdrawal

May 21, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 BusinessPost

No Result
View All Result
  • Home
  • Insurance
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
  • Contact Us
  • About
  • Advertise
  • Privacy & Policy

© 2023 BusinessPost

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In