Owing to the low contribution of the insurance sector to the Gross Domestic Product, GDP, and the poor perception by the general public, a nationwide campaign to rebrand the industry is set to kick off in June, 2018.
The rebranding campaign, which is being championed by the Insurers Committee, is geared towards changing the negative perception of the public towards insurance as well as growing the number of insurance consumers to over 150 million from 37 million.
Addressing journalists yesterday in Lagos, Vice Chairman of the Publicity sub-committee of the Insurers Committee, who is also Managing Director, NSIA Insurance Company Limited, Mrs. Ebelechukwu Nwachukwu, said that the industry is set to launch the project which is expected to transform insurance operations in the country.
Nwachukwu said the Committee, an association of insurance companies and the regulatory body, the National Insurance Commission, NAICOM, has set out seven cardinal goals that will be pursued.
It will be recalled that to promote the project, NAICOM has contributed N40 million while most companies have also made their contributions towards the initiative.
Earlier, insurance operators had agreed to raise 50 percent of the funds for the rebranding project from companies’ gross premium income while the balance of 50 percent is to be shared evenly from profits realized by insurers.
The initiative, according to the Committee, will be driven via social media, print and electronics, adding that greater attention will be on the social media due to the youth population.
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