Professionals Want Value Dimension Added To Enhance Compulsory Insurance

The constant effort by insurance industry to push compulsory insurance policies beyond the scope of present business control, has to take a shift from gliding on compulsory insurances to placing emphasis on the value those policies offer the policy buyer.

The lack of stable interest by the underwriters to promote the value of the legislation backing compulsory insurances, has become the stumbling block to insurance development. The managing director, SCIB Insurance Brokers Limited, Mr. Shola Tinubu, said, this is one of the things driving and sustaining fake insurance certificates.

Tinubu, said people perceive compulsory insurance as a “grudge buy”, made compulsory by law and they do not buy to seek value; therefore, when the insured risk happens they do not return to make claim.

He also said compulsory insurances, generate fake insurance certificates unlike other insurances like fire or householders insurance policies where fake policies do not exist.. He noted with interest the few instances of fake insurance certificates in policies that are not compulsory which policy holders willingly take up and they have adequate knowledge of cover purchased.

SCIB Insurance Brokers boss who was part of a recent webinar hosted by First Law & Impact Consulting Limited, admonished operators not to concentrate on how to block fake insurances certificates rather, “we should concentrate on how to build value for that document. We have a challenge when people still do not know that they can make claim.”

He reiterated that the concentration should be on value, explaining more to the public what the policy offers and also, make it easy for them to make and collect claim.

Also the executive director, general business, Leadway Assurance Limited, Ms Tola Adegbayi, pointing to the value platform, explains further; “our business is one of trust. We basically sell monetary notes. As we sell the monetary notes, we need to reach out and let people understand that it is money we are selling.”

Adegbayi, said a third party policy is money in the pocket and would cover injured person admitted in a public hospital who would be treated and the cost of treatment taken back from the insurer, adding that insurance is one of the ways the public hospital could be funded.

Related Posts

Next Post

Comments 6,723

  1. Thanks profusely for the comment this Blog appreciates. I waited this long because I needed to hear from the blog developers. I was told just before now that WordPress was used. Thanks indeed.

  2. Kenton says:

    Simply wish to say your article is as surprising. The clarity in your post is simply nice and i can assume you’re
    an expert on this subject. Well with your permission allow me
    to grab your feed to keep updated with forthcoming post.

    Thanks a million and please continue the enjoyable work.

  3. Savannah says:

    Greate article. Keep writing such kind of information on your blog.

    Im really impressed by your site.
    Hi there, You have performed an excellent job. I will certainly digg it and in my opinion suggest
    to my friends. I am confident they’ll be benefited from this web site.

  4. Olen says:

    Aw, this was a very good post. Spending some time and actual effort to make
    a great article… but what can I say… I put things off a lot
    and don’t seem to get anything done.

  5. Noella says:

    I think the admin of this site is truly working hard for his web page, as here
    every information is quality based material.

  6. Nwanne Ikemefune says:

    Thanks a great deal.

  7. Nwanne Ikemefune says:

    Thanks a lot.

  8. Incredible! This blog looks just like my old one!
    It’s on a completely different topic but it has pretty much the same layout and design. Superb choice
    of colors!

  9. My brother suggested I might like this web site. He was totally right.
    This post actually made my day. You cann’t imagine just
    how much time I had spent for this info! Thanks!

  10. I was recommended this blog via my cousin.
    I’m not sure whether this publish is written by way of him as no one else recognise such targeted about my trouble.
    You’re wonderful! Thank you!

  11. Your style is so unique compared to other people I have read stuff from.
    Many thanks for posting when you’ve got the opportunity, Guess
    I’ll just bookmark this site.

  12. I am in fact grateful to the holder of this site who has shared
    this impressive piece of writing at at this time.

  13. I loved this post! Great read! I read your blog often and you’re
    always coming up with some great stuff. I posted this on my Facebook Page and
    my audiance loved it! Keep it up!. 🙂

  14. Incredible! This blog looks just like my old one!

    It’s on a totally different topic but it has pretty much the same
    layout and design. Superb choice of colors!

  15. My partner and I stumbled over here by a different web page and
    thought I should check things out. I like what I see so now i’m following
    you. Look forward to finding out about your web page again.

  16. hello there and thank you for your information – I have definitely picked up
    something new from right here. I did however expertise several technical points using this site, since I experienced to reload the site many times previous to I could get it to load properly.
    I had been wondering if your web hosting is OK? Not that I
    am complaining, but slow loading instances times will sometimes affect your placement in google and could
    damage your quality score if ads and marketing with
    Adwords. Anyway I am adding this RSS to my e-mail and can look out for a lot more of your respective
    intriguing content. Make sure you update this again soon.

  17. Marvelous, what a weblog it is! This webpage gives useful facts
    to us, keep it up.

  18. Asking questions are truly pleasant thing if you are not understanding anything totally,
    except this paragraph provides nice understanding yet.

  19. eagles draft says:

    of course like your web-site however you need to check the spelling on several of your posts.
    A number of them are rife with spelling issues and I in finding it
    very troublesome to inform the reality however I will definitely come back again.

    • Nwanne Ikemefune says:

      I cant find your assertion. Not here. Thanks.

  20. Tv Celebs says:

    Helpful information. Fortunate me I found your site by chance, and I’m
    surprised why this coincidence did not happened in advance!
    I bookmarked it.

  21. magnificent put up, very informative. I ponder why the other specialists of this sector do not understand this.
    You should continue your writing. I’m sure, you’ve a
    huge readers’ base already!

  22. I simply needed to appreciate you again. I do not know the things I
    could possibly have gone through without the actual creative concepts documented by
    you concerning this industry. It truly was an absolute frustrating matter in my
    position, but being able to see a new specialised technique you managed the issue took
    me to jump with joy. I am happier for the service and even sincerely hope you know
    what an amazing job you are always undertaking training the mediocre ones through the use of your blog post.
    More than likely you have never met all of us.

  23. Lesley says:

    We are a group of volunteers and opening a new scheme in our community.
    Your website provided us with useful information to work on. You have performed a formidable process
    and our entire neighborhood might be grateful to you.

    Also visit my web site Serbu4d (Lesley)

  24. Situs Slot says:

    I must thank you for the efforts you have put in penning this blog.
    I really hope to see the same high-grade content
    from you later on as well. In fact, your creative writing abilities
    has inspired me to get my own site now 😉

    Stop by my web page Situs Slot

  25. Inspiring story there. What occurred after? Take care!

  26. Jillian says:

    Fantastic site. Plenty of useful information here.
    I’m sending it to a few buddies ans additionally sharing in delicious.
    And certainly, thank you in your sweat!

    Here is my webpage: Jasa89 (Jillian)

  27. jasa89 says:

    Your style is really unique in comparison to other folks I’ve read stuff from.
    I appreciate you for posting when you’ve got the opportunity,
    Guess I will just bookmark this page.

    My web blog: jasa89

  28. Hello there! I could have sworn I’ve visited this blog before
    but after going through some of the posts I realized it’s new to me.
    Anyhow, I’m certainly happy I discovered it and I’ll be book-marking it and checking back regularly!

    Feel free to visit my web site https://157.245.109.168/

  29. Nwanne Ikemefune says:

    Thanks. Share.

  30. Nwanne Ikemefune says:

    Appreciated. Share.

  31. I haven?t checked in here for some time since I thought it was getting boring, but the last few posts are good quality so I guess I?ll add you back to my daily bloglist. You deserve it my friend 🙂

  32. Good write-up, I?m normal visitor of one?s blog, maintain up the excellent operate, and It is going to be a regular visitor for a lengthy time.

  33. striplife.ru says:

    striplife.ru

  34. I realized more something totally new on this fat loss issue. One issue is a good nutrition is vital when dieting. An enormous reduction in bad foods, sugary foodstuff, fried foods, sugary foods, red meat, and whitened flour products may perhaps be necessary. Retaining wastes organisms, and toxins may prevent desired goals for losing belly fat. While specified drugs in the short term solve the matter, the nasty side effects will not be worth it, plus they never present more than a momentary solution. It can be a known indisputable fact that 95 of fad diets fail. Many thanks sharing your thinking on this blog.

  35. I have really learned new things from your blog post. Also a thing to I have noticed is that typically, FSBO sellers are going to reject you. Remember, they might prefer not to use your providers. But if you actually maintain a gentle, professional partnership, offering assistance and staying in contact for about four to five weeks, you will usually have the capacity to win a meeting. From there, a house listing follows. Cheers

  36. you’ve gotten an awesome blog here! would you like to make some invite posts on my weblog?

  37. red boost says:

    Hey there, You’ve performed a fantastic job. I will definitely digg it and in my view suggest to my friends. I’m sure they will be benefited from this web site.

  38. glucotrust says:

    I appreciate, cause I found just what I was looking for. You have ended my 4 day long hunt! God Bless you man. Have a nice day. Bye

  39. Davisles says: