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Young Nigerian graduates have been urged to adopt career paths in insurance as the industry has been described as a resilient marketplace for huge opportunities, growth, employment and career prosperity.
The Group Managing Director, Royal Exchange Assurance Plc. Wale Banmore, made this call at the Babcock University Students Association Day.
According to Banmore, the insurance sector is a major employer of labour especially skilled insurance professionals, among other fields and a N450 billion sector with capacity to grow to trillions and it is getting there.
He added that the industry offers competitive compensation packages to attract and retain the best talents. With opportunities for growth and professionalism via the training arm, the Chartered Insurance Institute of Nigeria (CIIN), the prospect to grow is limitless.
He said: “Without insurance, there would be fewer jobs, and even fewer businesses. Who here will buy a car without insurance, or visit the hospital without health insurance? We help companies remain in business.
Banmore, while giving reasons why insurance should be considered a first-choice career, stated that the insurance market is a resilient marketplace and as a result, it can be a solid bet for those looking to enjoy a long and prosperous career.
“As you might have gleaned from my presentation today, the insurance industry is growing and needs you to help it take the quantum leap forward.
“Now is the time to get into the industry, bring your disruptive ideas, your innovations, unique skill-sets and expertise is what is required as we prepare for the next growth phase of the insurance industry in Nigeria.
“Even when natural disasters occur and claims paid in their billions, the industry has remained buoyant. Opportunities abound for analysts (actuaries), sales (marketers), general management (HR, Operations, Communications), brokers (intermediaries between insurance company and the client), underwriters – technical back office operations,” he said.
He, however, decried poor pub-lic perception about insurance in Nigeria stressing that it is the reason young graduates are needed in the industry.
“Unfortunately, insurance is normally the last choice selection for graduates because insurers of yesteryears have portrayed the profession in a negative light compared to the bankers and the rest.
“However, times are changing. Most insurance companies have been attracting the millennials, as this is a way to ensure the much needed change, innovation as well as sustainability for the industry.
