Underwriters jostle for businesses from brokers

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Chuks Udo Okonta

Underwriters in a bid to secure businesses, now jostle to host Nigerian Council of Registered Insurance Brokers (NCRIB) monthly Members’ Evening, a platform that attracts about 200 brokers.

According to statistics, brokers are said to control 80 per cent of insurance business in the country.

The President of the NCRIB, Shola Tinubu, at the April edition of the members’ evening, hosted by Sovereign Trust Insurance Plc, today, in Lagos, said underwriters now jostle to host the event, adding that companies outside the insurance industry are also willing to proudly identify with brokers by sponsoring the event.

He called on brokers who are still maintaining a distance towards the Council’s activities to have a change of heart as the body can only survive through constant bonding and exchange of ideas on a continual basis.

“It is worthy to note that the Council’s bi-monthly Members’ Evening, a platform for interaction between insurance brokers and leading underwriters in the market, has remained an event that Underwriters now jostle to host.

“Even companies outside our industry are willing to proudly identify with us by sponsoring this Evening. It therefore behaves us to complement the evening with our continuous attendance as this would help its sustenance,” he said.

He noted that members attendance at the event will counts towards their Mandatory Continuous Professional Development (MCPD) grading points.

Tinubu noted that the Council has continued to strengthening its ties with other relevant international bodies, stressing that one of such is the British Insurance Brokers Association (BIBA). He stated that this has informed the bodies regular attendance of BIBA Conference.

“I like to inform you that a good number of Council members will be attending the 2018 Conference of the Association, holding in Manchester, the United Kingdom from Tuesday, May 14 to Friday, May 19, 2018. The theme of the Conference is Innovate Evolve Thrive. Happily, the NCRIB delegation would also have the benefit of interacting with a team of professionals from Aon and Lloyds Brokers who have consented to meet with the Nigerian delegation at a special session in London.

“As part of our efforts to encourage participants, the Management Committee met to grant a discount of £200 to the first ten registered delegates. I like to inform you that if you have a valid UK Visa, you can still be a part of the delegation,” he posited.

The Managing Director, Sovereign Trust Insurance Plc, Olaotan Soyinka, who led the management team of the firm to the event, applauded brokers for their roles in developing the insurance market.

He appealed to brokers to sustain the relationship they built with his company over the years, whilst pledging the firm’s resolve to surpass brokers expectations.

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