Ebere Nwoji
Coronation Insurance Plc, has highlighted the relevance of insurance in helping enterprises manage inflation, foreign exchange constraints, and talent flight while protecting assets, processes, and outcomes essential to keeping businesses going in the face of volatility and disruption.
Managing Director of Coronation Insurance, Olamide Olajolo, in a recent webinar session organised by the company examined the critical role of insurance in helping businesses survive and prosper, especially in challenging economic environments.
Discussants at the session, shared cutting-edge thoughts on how businesses could mitigate current challenges in their operating environment using insurance services.
Among the panelists were Co-founder and CEO at Curacel Henry Mascot,
Founder of Mesh Venture, Tochi Ginigeme, Head Corporate Sales at Coronation Insurance, Anthony Olasele and Head Sales and Marketing at Emirates HealthConnect 24×7 Limited Vincent Ezeora.
In their views, far from being a luxury to dispense with in tough times, insurance was a key driver of survival and success in challenging markets.
They observed that until the Covid 19 pandemic, global growth was steaming ahead, recording the emergence of more people from poverty and the highest levels of longevity than ever before in human history.
According to them, the pandemic, subsequent geopolitical conflict, and even wars threatened these gains, leading to disruption in supply chain .
Olajolo, who championed discussions at the session believes that in this more complex environment, the ability to manage risk and survive through volatility was key to both growing revenue and cutting costs – the two most basic business imperatives.
