BusinessDay

African Insurance Organisation begins working visit across Africa

... charges Nigeria on digitalisation

The leadership of the African Insurance Organisation (AIO) has commenced working visit across the African insurance market, urging Nigeria to fast-track digitalization to increase market penetration.

Having visited Namibia where it met with the insurance industry regulator and other major operators, the meeting with the Nigerian market was part of AIO’s engagement with key markets in the continent in her desire to increase penetration in the region.

Tope Smart, president of African Insurance Organisation during a courtesy visit to the Nigerian insurers Association urged them to put robust structures in place to enable the market benefit from African Continental Free Trade Area (AfCFTA), as it remains a game changer.

Tope Smart during the visit expressed his profound gratitude to the market for hosting a very successful Conference, thanking the market for their support at the Investiture ceremony where he became the 47th President of AIO and vowed not to disappoint them.

The AIO Boss informed the gathering that the AIO Executives came to formally intimate them of his 5- Point Agenda, enumerated at the Investiture ceremony and to solicit for their support in achieving it.

Read Also: Digitalisation: AIO targets to insure more Africans in five-year

African Insurance Organisation

Furthermore, he highlighted Market Collaboration, Building Consumers Trust, Education, Publicity, among others. According to him if properly structured, the market will be transformed.

“On the African Continental Free Trade Area (AfCFTA), I urged NIA to put robust structures in place to enable the market benefit from it, as AfCFTA remains a game changer. Also, he challenged the Nigerian insurance market to upscale its digitization programme to fast track penetration.”

“The Meeting with the Nigerian market is the beginning of AIO’s engagement with Key Markets in Africa in her desire to increase insurance penetration in the Region. Also, as part of this engagement, we shall also be meeting with Governments and Regulators across the Region to share with them their own roles in market penetration, Smart added”

In the same vein The AIO President visited Namibia where he met with the insurance industry Regulator and other major operators in the market. The Meeting offered Smart the opportunity to push his 5- Point Agenda.

It would be recalled that Tope Smart unveiled a five -point agenda that will serve as a guide during his tenure as AIO President. In his acceptance speech, he said his tenure will be anchored on five key areas: Increased Awareness, Adoption of Digitalisation, Collaboration with other markets, Collaboration with Governments & Regulators and Building Customers Trust.

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