LASACO Assurance CEO tasks brokers on strategies to hedge economic headwinds

As Nigeria battles with economic headwinds affecting the growth and sustainability of businesses across sectors, the insurance brokerage fraternity has been tasked to come up with strategies that will help the industry continue to deliver value to its customers.

Razzaq Abiodun, managing director/CEO of LASACO Assurance Plc made the call when leadership of the Nigerian Council of Registered Insurance Brokers (NCRIB) paid him a courtesy visit at his corporate head office in Lagos.

Abiodun, who believed that the current economic situation in the country posed a big challenge to the growth of insurance businesses, challenged insurance providers to be very proactive in coming up with creative strategies that could make their customers survive the hardship with relative ease.

Abiodun who welcomed Babatunde Oguntade, NCRIB President, and his other executive committee members explained that Lasaco Assurance plc hosted the council members to service the brokerage subsector more efficiently.

He believes that for insurance businesses to grow in the country, practitioners should always evolve ways of protecting the interests of their customers by seeking improved productivity and customer satisfaction through collaboration and the exchange of ideas that could enable them to operate optimally and give consumers the needed satisfaction.

Through a strengthened relationship with NCRIB, he said, LASACO Assurance plc would be able to enhance the skills of its employees through local and international training. The company would also become an active participant in events surrounding the NCRIB as well as gain much awareness and visibility through the NCRIB platforms.

Speaking on behalf of his team, Babatunde Oguntade, NCRIB president, said his organisation chose to visit Lasaco Assurance plc because of the company’s strong commitment to customer satisfaction and continuous support for the council.

He expressed the hope that the strengthened relationship would translate to more payment of valid claims for Lasaco assurance’s customers, who, he said, were the primary target of the scheme.

In his words, Tope Adaramola, the CEO and executive secretary of the council expressed his profound gratitude to Lasaco Assurance plc for taking the time to meet with the executives and promised a stronger relationship, collaboration, and partnership for better service delivery and affiliation.

The handshake would also encourage the company to engage more in a better customer experience to enhance customer engagement, as well as encourage it to be more professional by being stricter with the code of conduct of the insurance industry, LASACO said.

With a healthier relationship with NCRIB, Lasaco Assurance plans to keep engaging the council in a collaborative partnership. It will also make use of more collaboration opportunities from the Nigerian Insurance Association (NIA) and other underwriters to push and generate more market sales.