How insurance companies neglect their policies, buy external products to drive CSR

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Chuks Udo Okonta

Honour is best served with what you have. For the insurance industry, honour is served with what is obtained from others.

Welcome to the world of insurance industry’s Corporate Social Responsibility (CSR). A world where billions of Naira are spent annually in the purchase of products from other sectors to support government, corporates and individuals, while they keep complaining of apathy and poor purchase of their products – insurance policies.

The most worrisome is that most of the products bought and donated, lack elements of insurance as they are not insured.

Researches had revealed that insurance industry has the potential to drive any economy if the right things are done. And one of the best ways to grow any economy or sector, is when you buy what you produce.

As a journalist, I have attended and reported many events where insurance practitioners executed corporate social responsibility act by donating multi-million naira products to the public and observed that elements of insurance were not attached to the products.

Imagine donating computer sets to a school and informing the school management and students that the computer sets have been insured. That to me, is the best way to inform the school management about the need to insure its assets.

Laptops and other digital devices are donated to students who engaged in competitions, without any insurance on the devices. Imagine informing the students that the gadgets are insured, that would inform the students the need to protect their assets with insurance.

Aside, buying insurance for donated products, insurance products are the best souvenir to offer or donate to people as insurance remains the best tool to mitigate risks.

The unique thing about insurance products been used as souvenir is that, it is cost effective and can impact larger scale of people.

Imagine the worth of a good digital device and relate it to the premium paif on a policy. One laptop can provide a unique policy like School Fees Protection Plan for about 50 students, helping to keep them in school at the time of mishap.

The quest to transform insurance practice and help stem risks and poverty, was what led to the formation of Insurfeel Initiative, a platform that is aimed at helping the people, insurance industry and the economy, through donation of insurance to mitigate risks and grow the economy.

Insurfeel Initiative started operations last year and has donated two brand of customized insurance products – Uni-personal Cover and School Fees Protection Plan to people, such as Students; lecturers; small business owners; retirees; clergy and workers.

The donations were achieved through personal efforts; support from individuals and corporate organisations.

The Initiative has a goal to donate one million insurance covers to the uninsured before the end of 2025. This can be achieved through financial supports and direct donations by individuals and corporates.

As stakeholders in insurance, we all have to buy our products, embed it in what we give out as gifts and donate it to others.

About Insurfeel Initiative

Insurfeel is an initiative that enables the uninformed and uninsured to experience impacts of insurance by receiving insurance policies for free through donations by individuals; groups; associations; organisations and government.

Dignitaries unveiling Insurfeel Initiative.

*Insurfeel Initiative entails donation of insurance policies to the uninsured, uninformed and evolved from a research conducted which showed that people who have had positive experience on how insurance works seem to believe and easily embraced the system.

This research, therefore, necessitates the need to extend insurance experience through donation of policies to more people so as to deepen insurance penetration, provide safety; fight poverty, and enhance the insurance industry’s profitability.

*Insurfeel is targeted towards specific individuals, such as students in secondary schools, teachers, and people with distinct impact on lives and the society. They are selected due to their outstanding performance and contributions to human growth.

*Insurfeel initiative is opened to people committed to philanthropy. Through Insurfeel, organisations can by means of Corporate Social Responsibility (CRS) donate insurance policies as souvenirs and gifts to deserving members of the public.

*Insurfeel Initiative provides a platform for insurance companies to donate their products as against the present trend where products from other sectors are donated to the public.

This will grow the industry’s premium whilst helping humanity.

For partnership and donations contact us through, 08054259557; 07033253525 or make direct donation to Inspenonline Limited United Bank for Africa 1021916451.

About Uni-personal insurance Cover

There are risks in every activity we do. Whether you are at home, at work, at play or while traveling. Over 75 per cent of the activities we do have to with our job, business, or occupation.

Every job/occupation has its peculiar risks. Most common is the risk of accident – from minor to fatal. When an accident happens, it could lead to medical expenses, permanent disability or death. Raising funds to take care of emergency situations resulting from accidents is sometimes a very challenging task for most people.

Aside from accident, individuals are sometimes held legally liable for their negligent, unintentional actions or actions of their children or other relatives, whether at home or outside the home, which could result in bodily injury of persons or loss/damage to their property.

Everyone, therefore, needs to guard ourselves with Uni-Personal Cover in case any of this situation arises. With Uni-Personal Cover, you can work, live, play, and travel with great confidence.

Uni-Personal Cover a policy offered by Universal Insurance Plc, is combined Personal Accident (PA) and Personal Liability (PL) insurance cover, just for you, and the premium is ₦8,000 only per annum.


₦200,000 for medical expenses
₦850,000 for Permanent Disability
₦850,000 for Death
₦500,000 for Personal Liability.

About School Fees Protection Plan

School Fees Protection Plan provides payment of school fees to the named Beneficiary (or Guardian, Trustee or School in case of a minor) of the insured parent/Guardian in event of the following occurring: Permanent disability resulting from an accident and Death.


Medical expenses worth, N150,000

Permanent disability benefit, N500,000

Death benefit, N500,000

On their guardian (parent), he said the students will have:

Permanent disability benefit of N700,000

Death benefit, N700,000.

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