SPEECH DELIVERED BY THE EXECUTIVE SECRETARY/CEO OF THE NIGERIAN COUNCIL OF REGISTERED INSURANCE BROKERS, MR. TOPE ADARAMOLA, FCIB AT THE DONATION OF INSURANCE POLICIES TO STUDENTS OF UNIVERSITY OF LAGOS HELD ON WEDNESDAY, MARCH 20, 2024 IN LAGOS
• The Dean of Faculty present here,
• Managing Director/CEO, Universal Insurance Plc,
• Promoter of Insurfeel Initiative
• Nigerian Students present here
• All beneficiaries of this Initiative
• All our guests here present,
• Gentlemen of the Press,
• Ladies and Gentlemen,
It is my great honour and privilege to be invited as guest at this very important event where School Fees Protection policy would be donated to Faculty and Departmental Student Executives of University of Lagos. It would have been my pleasure to personally grace this occasion, but for other pressing official assignment that clashed with time of this event. I do not take this invitation for granted, hence, my representation here today.
Before we get started, I would like to express my sincere appreciation, firstly, to the Promoter of this Initiative, Mr. Chuks Udo Okonta, who has continued to sustain the ideology of promoting insurance through various laudable initiatives. Permit me to emphatically note that Mr. Okonta, has remained a true and thorough industry’s trail blazer. The Nigerian Insurance industry is indeed blessed to have him as part of them. I am most delighted to note that his contribution to the growth of insurance is formidable.
Suffice it to state that the idea of donating Insurance Policies to the uninsured was borne out of the need to take the gospel of insurance to the nooks and crannies of the Nigerian society. And gradually, the initiative, which is now gaining unimaginable crescendo, has attained a reputation of bridging the gap between the Insurance Industry, which was once misunderstood by the public and the Insuring publics. And I think, this is one of the most laudable ideas and initiatives that the Industry should embrace and give its full support if it must grow as expected.
Over the years, we have heard about brilliant but indigent students who could not successfully complete their academics simply because of poor financial backings. The primary aim of this initiative is to guarantee the continuity of your academic pursuits, even in the event of being financial incapacitated. It is on that note that I like to congratulate the beneficiaries here today.
The onus is now on you to squarely face your academic pursuit and ensure that you graduate in flying colours.
Before I finally yield the stage for the next speaker, may I urge you all to see Insurance as a very important aspect of our being.
May I state unequivocally that Insurance contributes immensely to the economic growth of any nation by mobilizing domestic savings into providing financial stability. The catalytic effect of insurance on the economy cannot be understated as it provides financial support and decreases the risks that come with doing business and living. It provides a cover against any sudden loss.
Insurance coverage provides a feeling of assurance and peace of mind to the policyholders as it gives payment certainty in the event of loss.
Distinguished Ladies and Gentlemen, I will be doing a great disservice if I don’t take a little time to talk about my primary constituency, which is the Broking arm of the Industry. For the benefit on non-insurance people here, an insurance broker is a professional who acts as an intermediary between a consumer and an insurance company, helping the former find a policy that best suits his/her needs. In a nutshell, insurance brokers play a dual responsibility, representing both the consumers and insurance companies, therefore insurance consumer need not pay a dime for the service a broker renders. This goes to say it is cost effective to use a broker. When you engage a broker, you can rely on his/her expertise and their ability to offer an extensive range of policy options.
May I also appreciate the Managing Director/CEO, Universal Insurance Plc for partnering with the promoter of this initiative.
In Conclusion, I wish to appreciate the organizers once again for inviting me. I appreciate all members who made it to this gathering and those that joined us virtually. May God Almighty bless your endeavours.
TOPE ADARAMOLA
EXECUTIVE SECRETARY/CEO
