By Henry Uche, [email protected]
To get more businesses and individuals into the insurance net, the Chartered Insurance Institute of Nigeria (CIIN) said it is conscientiously carrying out awareness exercises on insurance for Small & Medium Enterprises (SMEs) in the country, starting from Lagos.
Mrs. Faida Aderonke Coker, the immediate past ambassador of CIIN, made this known in Lagos recently on the occasion of Nite of Titans, tagged, “Future Titans: A Celebration of Young Talents” while delivering a handover address.
She said: “We embarked on the ambitious journey of creating insurance awareness among Small and Medium sized Enterprises (SMEs). Recognizing the role SMEs play in our economy, we understand the importance of ensuring they have access to the necessary information and resources to protect their businesses.
“Through targeted outreach and with the support of our resourceful facilitators in the industry, we engaged our audience on compulsory insurances, property insurance and health insurances. At the end of the project, we successfully raised awareness among SMEs about the importance of Insurance coverage and risk management.”
This initiative, Coker added has not only helped to protect countless businesses, but has also contributed to the overall resilience of the economy. She stressed that the laudable campaign, along with others stand as testament to the dedication and commitment of the team and the Institute as a whole.
However, speaking with some micro, small and medium entrepreneurs in the suburbs of Lagos state, a businessman, Kelvin Abiodun, said he has encountered some insurance companies long ago and embraced their products and services. According to him, he had no regret whatsoever to protect his business against misfortunes.
Abiodun, who trades in electrical and electronics products, said the incessant fire incidents in major markets in Lagos over the years galvanised him to guard against both the expected and unexpected contingencies.
“I decided to pick up insurance cover for my business because what we experience here on regular basis is alarming. It’s either unknown source or cause of fire outbreak or theft. When there was a theft in my shop, my insurance company (I won’t mention their names) came in after due examination, and restored me. Today I’m encouraging my colleagues and associates to follow suit”
He added: “what is important is to understand every details and terms and conditions in the policy before you sign. And provided you are consistent in paying your premium and keeping to other terms and conditions, then you have nothing to fear when anything bad happens” he maintained.
Meanwhile, another middle class business owner who did not want his name in print but deals on poultry feeds and agricultural implement in one shop, and home appliances in another shop at the popular Apongbon market in Lagos Island, told Daily Sun that he was not totally ignorant of the benefits of insurance but his lackadaisical attitude made him lose fortunes when misfortunes happened.
According to him, “over- spirituality and religiosity have beclouded the sense of reasoning of some people and that’s why many people would not embrace insurance nor blame themselves should the enemy strike.
“I am aware of insurance and its benefits. But then I only believe if we as humans take minimum precautions and carefulness, coupled with prayers and believe in the protection from above, then no misfortune would happen.
“But sadly, our over – spirituality has beclouded our sense of reasoning. I wish I knew or was convinced that no matter how we believe in God and pray against the evil day, the inevitable would still happen. Our believe in God does not stop us from doing what is right to do. I’m not happy but then I implore insurance companies especially those offering micro insurance packages, to intensify their efforts to sensitize the MSMEs even to those in the hinterlands” he urged.
Meanwhile, the outgoing President/Chairman of the Institute, Mr. Edwin Igbiti, while addressing the young talents at the occasion, called for the need to empower and support the next generation of Nigerian youths, as the challenges faced by them are enormous and requires considerable efforts to overcome.
“In our interconnected world where change is constant, we must empower and support the next generation. The challenges they face are both unique and formidable, from the rapid advancement in technology to pressing global issues such as climate change, inequality and social justice.
“However, I am confident that the talent showcased tonight will be the driving force behind the positive transformations our world so desperately need.s”
He explained that the theme, ‘Future Titans’ resonates deeply with the aspirations held for the youths and as ambassadors of the Institute. He warned that the journey of the young titans was not a personal one, but a collective endeavour that would shape the destiny of nations.
Stressing the need for the youths to be committed for the task ahead, he said, “Your passion and commitment are the building blocks of a brighter future. Embrace the challenges that lie ahead, when you overcome, you would discover the true extent of their capabilities.”
Igbiti applauded the commitment of the Institute’s ‘Activity Committee’ chaired by Mrs. Adetutu Arusiuka, the Institute’s sectariat under the leadership of Mrs. Abimbola Tiamiyu for the innovation embraced recently towards making the young minds see insurance as an interesting career path.
Mrs. Adetutu Arusiuka in a remark argued that in a critical time of Nigeria, the role of young professionals becomes not just important, but essential. Said she, “To all our young practitioners, we need creativity and the pioneering spirit to navigate our industry through these waves of change.”
The Nite of talent is a platform to illuminate young talents, share innovative ideas and network with seasoned professionals to fire young professionals to a greater height.