Insurance industry rebranding project is set to commence in the first quarter of 2018.
This was recently revealed by the vice chairman sub-Committee Publicity of the Insurers Committee, Mrs. Ebelechukwu Nwachukwu, who is also the Managing Director, Zenith Insurance Company Limited.
Nwachukwu, disclosed this at a media parley in Lagos over the weekend, noting that the committee, is working to get insurance brokers and loss adjusters on board.
She reasoned that since they are all parts of the industry, they would all pull efforts together to ensure the project succeeds.
The rebranding project, an innovation of the Insurersâ€™ Committee, which comprises the managers of the 58 registered insurance companies as well as the National Insurance Commission (NAICOM), is aimed at deepening insurance acceptance and penetration through massive insurance education and awareness across all states of the federation.
When commenced, Lagos State and Federal Capital Territory Abuja, are expected to be the pilot states.
Information on the industry’s rebranding project was first communicated to the media by the Chairman Sub -committee on Publicity of the Insurers Committee, Mr. Oye Hassan Odukale, who is also Managing Director, Leadway Assurance Limited.
He had said that the first phase of the multi-million Naira project would utilise the online medium such as Facebook, Twitter, among other online platforms to create awareness on the need to subscribe to insurance products and services, following the rapid increase in the number of internet and online users in the country.
According to him, this would later be followed by jingles on broadcast media, while also utilising the print and bill board media.
THISDAY gathered that the project could not commence as scheduled due to funding problem.
But addressing the media at the end of August edition of the bi-monthly meeting of the insurers committee held in Lagos recently, Nwachukwu said that it has been slated to kick off first quarter next year.
“A lot of emphasis was placed on the publicity initiative and that has been revived again with some action plans decided in that regards.
“We discussed the publicity issue and we are reviving it. It is not really rebranding project, it’s a publicity initiative. We want to talk more about insurance. We want to tell people that we exist and who we are what we do and who they can speak to.
“So, today we brought the issue up and we have agreed to start the project and we have agreed to bring in other sectors of the insurance industry which is the agents, the brokers and even the loss adjusters. We just want to bring in every key stakeholder into this project as well”, she said.
She said the project executors, are going on the platform of Nigeria Insurers Association (NIA) to agree on how the bills involved would be paid to get started.
“I think by the first quarter of 2018, we would definitely begin to run different sets of campaigns. We would measure the impact of our campaign on a quarterly basis and by the third quarter, we would decide the activities for the next year, which is 2019.
“So, we are bringing the project back on the table with clear execution plans, we will definitely get the project started very soon. I think it’s best to start in January which would be like a fresh year, but we would have finished all the arrangements, get all the monies needed and the agreed platform to use for the initiative before January, 2018,she informed.
It was gathered that inability of most of the 58 insurance companies in the country to commit fund to the proposed N300 million insurance rebranding project stalled the initiative earlier.”