IBTC Broker Promotes Insurance Penetration

Chief Executive Officer of IBTC Insurance Broker, Mr Anselem Igbo,

Ebere Nwoji

IBTC Insurance Broker said it is promoting insurance penetration in the country through mass education of members of the public especially the business community on the relevance of insurance.

The company which said despite the partial lock down on businesses which has made it difficult to reach the masses through physical contact, it has through online channels convinced over 150 businesses on the need to embrace insurance cover against cybercrime and other emerging risks.

The Chief Executive Officer of IBTC Insurance Broker, Mr Anselem Igbo, who stated this during a virtual insurance awareness media parley organised by the company to commemorate this year’s global insurance awareness day, said the efforts were IBTC Insurance Broker’s contributions to promote insurance awareness in Nigeria.

The world Insurance awareness day is celebrated annually on June 28. IBTC Insurance Broker, in the past four years stages media awareness campaign to celebrate the day.

Igbo, said this year’s edition has the theme, “Insurance, a necessary security for the future, protecting what is important to improve on insurance penetration”.

He noted that insurance plays a critical role in economic development of every economy adding that this critical role of insurance makes it possible for the sector to not only protect businesses but transfer excess funds where they are for use by businesses.

He said in buying insurance services, the only way members of the public would get the best insurance services is through the use of insurance brokers in purchasing insurance policies.

“It is important to let the public know the relevance of purchasing insurance services through the use of insurance brokers, insurance is a very technical business that needs to be simplified and it is only brokers that simplify it so we want the public to use reputable brokers like Stanbic IBTC Insurance Broker who will give them peace of mind through effective risk transfer mechanism by placing their businesses with insurance companies that have the ability to get their claims equitably settled,” he added.

According to him, in joining other insurance players all over the world to celebrate this year’s world insurance awareness day, IBTC Insurance Brokers, was targeting deepening insurance penetration in Nigeria, bearing in mind the fact that there is low level of insurance awareness and patronage in the country.

He said aside selling insurance products to the clients, the company also ensures effective management of client’s risks, advises clients on risks prevention and guarantees excellent claims settlement to the client’s when claims occurs.

“Insurance plays a critical role in promoting economic growth and development by ensuring the efficient allocation of financial resources from the surplus to the deficit unit and ultimately bulwark for business sustainability. “The recognition of the Insurance Awareness Day offers a chance to get familiar with available and accessible insurance covers and to stress the importance to always evaluate present belongings and the corresponding covers they need,” he added.