Insurance Week: NIA Pushes Awareness Drive, Simplifies Claims, Showcases New Products
In a renewed push to demystify insurance and deepen market penetration, the Nigerian Insurers Association (NIA) has launched the maiden edition of Insurance Week 2024, a landmark initiative aimed at raising awareness, enhancing consumer trust, and spotlighting the pivotal role of insurance in national development.
Held under the theme “Insurance For All: Securing Nigeria’s Future”, the week-long event is being championed by the Chartered Insurance Institute of Nigeria (CIIN) under the leadership of its President, Mrs. Yetunde Ilori, and supported by major industry stakeholders.
Speaking at the opening ceremony in Lagos on Monday, the NIA Chairman and Managing Director of AIICO Insurance Plc, Mr. Kunle Ahmed, described the event as a strategic milestone in the industry’s ongoing efforts to reposition insurance as an essential financial safety net for individuals, businesses, and the economy.
“This is not just a celebration but a national call to action. Insurance Week is designed to bring insurers and the insuring public together—to listen, learn, innovate and respond,” Ahmed said.
He noted that key highlights of the week include roadshows, customer education forums, free policy advisory clinics, and special showcases of new insurance products tailored to modern-day risks and consumer expectations.
Simplifying Claims, Enhancing Trust
One of the core themes running through the programme is the industry’s commitment to prompt claims payment and customer-centric service delivery.
Ahmed announced that the NIA is intensifying efforts to simplify claims processes and improve onboarding systems across insurance firms, noting that over ₦622 billion was paid out in claims in 2024 alone—a testament to the industry’s reliability.
“The prompt settlement of claims is central to rebuilding consumer confidence. We are deploying digital tools and streamlined protocols to reduce turnaround time significantly,” he stated.
Consumer Advocacy and Regulatory Backbone
The NIA Chairman urged Nigerians to take advantage of the various insurance solutions now available, especially in a time of economic uncertainties and rising risks—ranging from health and property to business and climate-related perils.
For those who encounter issues with their insurers, Ahmed advised them to contact the NIA or CIIN, assuring them of redress mechanisms supported by the National Insurance Commission (NAICOM), the apex industry regulator.
“NAICOM continues to provide strong oversight and protection for policyholders. The regulatory framework is robust and pro-consumer,” he said.
Industry Solidarity and Future Outlook
Also present at the ceremony were key industry figures including Mr. Olusegun Omosehin, Commissioner for Insurance; Mr. Eddie Efekoha, Chairman of the Planning Committee; Prince Babatunde Oguntade, President of NCRIB; and Mr. Tope Smart, Chairman of NEM Insurance, among others.
They reaffirmed their collective resolve to make insurance more visible, accessible, and valuable to all segments of society.
The Insurance Week 2024 will run through Saturday, July 4, with grand finale activities designed to celebrate milestones and gather public feedback to further improve service delivery across the sector.
BRANDECONOMY’s Insight:
As Nigeria pushes to expand its financial inclusion frontier, the insurance sector is positioning itself for a greater role in economic resilience and security. The NIA’s move to institutionalize Insurance Week marks a step forward in rebuilding public trust and reshaping industry narratives. However, beyond the fanfare, sustainable impact will depend on consistent service delivery, transparent claims settlement, and continued product innovation that meets the realities of the Nigerian market.
