By Henry Uche
Business operators in the country have been urged to learn to trust insurance companies by engaging them as they journey through.
Nigeria business environment is not left out of the endemic of global pandemics like COVID-19 and other sociopolitical headwinds impeding economic growth and development.
They argued that insurance is the only business venture that lives on behalf of other businesses. It’s like the a hospital that provides healing to wounded persons and corporates that have access and eligibility to receive such healing.
At a webinar put together by Coronation Insurance Plc, the Co-founder/CEO at Curacel and Keynote speaker, Henry Mascot, who stated that insurance companies in Nigeria are beginning to sit up to address ‘perennial lack of trust and confidence quotient’ of Nigerians, argued that, “Because businesses are laced with different kinds of risk and hazards, it was high time business operators begun to trust underwriters as most of them are coming up with innovative and creative tools to make insurance products and services not only accessible but rewarding. So insurance keeps you from falling backward.”
With the theme: Insurance: A key Partner for Business Success in a Challenging Environmental’, the Head of Corporate team, at Coronation Insurance, Mr. Anthony Olasele, highlighted the different kinds of risks business operators grapple with noting that most businesses fail within the first three to five years because owners fail to engage insurance companies.
“Businesses should invest in cyber security and tech insurance given the surge in cyber crimes, a simple business interruption cover can save you a whole lot” he stressed.
Also speaking the benefit of insurance, Tochi Ginigeme, Founder of Mesh Venture, said that all hands should be on deck to promote insurance business in Nigeria.
“U.S, Taiwan and other countries have sophisticated insurance industries and they are doing well. So we must take advantage of insurance to mitigate risks,” she beckoned.
More so, the Head of Sales & Marketing at Emirates HealthConnect24x7 Ltd, Vincent Ezeora, advocated proactive measures toward risk – related decisions, as he urged insurers to offer more tailored-made. “Sadly we’re reactive instead of being proactive. Insurers should do more in deploying tech and applications like Artificial Intelligence (AI) to offer tailored-made products and services and offer add value services if they must remain in business profitably,” he posited.