Enterprise Life Assurance Company (Nigeria), a leading provider of innovative and relevant life insurance solutions, is taking significant steps to deepen insurance penetration in Nigeria by promoting financial literacy initiatives in schools.
Funmilayo Omo, chief executive officer (CEO) of the company, said that the firm was committed to educating young people about the importance of insurance and financial planning from an early age.
According to her, the move is paramount recognising the challenges posed by inadequate knowledge and misconceptions about insurance.
“Enterprise Life Assurance has introduced programs aimed at junior and high school students. We believe that from junior school, the concept of insurance needs to be introduced, explained, and built upon as people progress through life,” Omo stated.
She added that to this end, the company has adopted schools and established interactions with various high schools to educate students on insurance and financial literacy.
Omo also noted that Enterprise Life has partnered with institutions such as Pan-Atlantic University to recruit student ambassadors to help drive financial inclusion within their academic environments, and the company offers them internship opportunities to build their confidence and understanding of the insurance sector.
She stated further that In December last year, Enterprise Life further revolutionized its operations by launching the Advantage Connect platform, a digital tool designed to enhance the insurance purchasing experience. “The Advantage Connect platform works like Uber, providing a convenient digital option for purchasing insurance,” Omo explained.
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Built on geolocation technology, she said the platform facilitates easy interaction between customers, life planners, and Enterprise Life Insurance, making the process quicker and more accessible.
“Life planners, trained by Enterprise Life, play a crucial role in this initiative. They support customers in making informed decisions about life insurance, financial planning, and future planning, offering personalised advice tailored to each individual’s goals and challenges.
“To support their financial literacy efforts, Enterprise Life is preparing to release a report on the financial habits of young people, which informed the development of the Advantage Connect app. This initiative is part of the company’s broader strategy to build long-term confidence and understanding of insurance among Nigerians,” she said
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