NCRIB woos private, public sector CEOs to use brokers for reliable insurance services
Adesola Afolabi was a businessamlive reporter and Head of Financial desk.
Shola Tinubu, president of the Nigerian Council of Registered Insurance Brokers (NCRIB), an umbrella association of insurance brokers in Nigeria, has called on chief executive officers of businesses and state governments across the nation to embrace the consultation of registered insurance brokers as a means of obtaining reliable insurance services.
The president also called for the protection of Nigeria’s scarce capital in form of physical and human assets by engaging the services of insurance brokers in the country.
According to Tinubu, there are lots of benefits the states could derive from patronizing registered insurance brokers in placing all their insurances. The importance of insurance brokers in the insurance value chain which entails a specialty in insurance and risk management cannot be overemphasized.
“It is important to state that insurance brokers are the professional arm of the industry.We know the nitty-gritty of insurance business and their engagement gives the client opportunity to maximize their insurance placement without any extra cost to the client,” Tinubu explained.
Tinubu who was speaking at the association’s 2018 CEOs retreat recently held in Uyo, Akwa-Ibom state, said the retreat has become a platform for all brokers, especially, the chief executives of member companies to be adequately equipped with information necessary for the development of their practice in a very conducive environment and by so doing, advancing the insurance broking profession in Nigeria.
Stressing the need to foster a relationship with the brokers, Tinubu said “I would like to appeal that the government ensures the inclusion of insurance brokers in all its business transactions. This step is definitely in tandem with the NCRIB Act which makes for patronage of only registered insurance brokers.
We will appreciate that our choice of Uyo for the CEOs’ retreat will be the beginning of mutual and beneficial relationship between the Council and the Akwa Ibom State Government”
He added that the decision for this year’s theme tagged ‘The Future Broker’ is in tandem with global practices, considering the recent advancement being faced by all professions around the world. He thus charged the people to always patronise insurance brokers for all their insurances.
Tinubu further expressed optimism on the professions potential to contribute significantly to the growth of the economy through the support of attendees. He said, “I must confess that your attendance at this retreat portrays an indication that we have your support to grow insurance broking profession in Nigeria as we continue to grow and adapt to changing dynamics of our practice. We are convinced beyond any doubt that insurance broking profession shall soon take its rightful position in its contribution to the growth of our Nation’s economy.”