The Managing Director/ Chief Executive officer of FBN General Insurance Limited, Bode Oadokun, has said that his focus is to expand the coast of the company by building strong hold on the retail insurance market segment.
FBN General Insurance is a subsidiary of FBN Holdings Company.
Opadokun disclosed this recently at a press parley in Lagos, adding that the firm would leverage on retail operations to increase its market share, income and penetration.
“We want to see how we can drive our operations in such a way that it will impact our market size and the industry in general.
Opadokun, noted that despite the huge population of Nigeria, insurance industry’s contributions to Gross Domestic Product (GDP) is still very low.
He said one of the ways the operators can develop the insurance market is through creation of new market.
According to him, FBN, would engage the services of insurance agents, information communication technology, association and groups to sell its products to people, especially those at the grassroots.
The FBN Insurance boss vowed to reposition and rebrand the company in such a way that it will stand the test of time in terms of productivity, staff welfare, customer relation and profitability.
He said the company will match research with communications to ensure the arrays of products in its kitty are known and appreciated by the public, stressing that the firm will regularly evolve products that meet the need of the public.
The firm’s half year financial performance, he noted, far exceeded what it recorded within the period last year, adding that though insurance is a hard sell in the country, the firm would continue to make giant strides through innovations and improved service delivery.
Opadokun, was recently appointed Managing Director/Chief Executive officer of FBN General Insurance. Until his recent appointment, he was the Managing Director/ Chef Executive officer of the federal government owned Nigerian Agricultural Insurance Corporation( NAIC).