Insurance

Insurance sector needs whoa effect – Expert

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Chuks Udo Okonta

The insurance sector needs a whoa effect that would enable the public to willingly buy its products, the Chief Executive Officer, JSP Communications, Dr. Phil Osagie, has canvassed.

He disclosed this in Lagos, stressing that for the sector to take its rightful position, the operators need to urgently change their peripherals and come up with innovations that would endear their operations to the public.

Osagie called on insurers to make their products more desirable to the public, by being creative and visible. He added that people buy products due to the value and satisfactions they hope to achieve, stressing that most people refrain from insurance because they are yet to feel its uniqueness.

He also identified the need for improved sales strategy and motivation for employees in the sector. According to him, most insurance practitioners would quickly opt for another job given the opportunity. This he said, accrued from poor motivation, which often hinder the employees from giving their best.

He called on insurance operators to collaborate with law enforcement agencies to ensure laws on insurance are enforced, adding that the nation cannot thrive without a thriving insurance sector.

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