Lessons from Yinka Ayefele’s insurance ordeal
Kindly leave a comment and share
Chuks Udo Okonta
The outburst by ace musician, Yinka Ayefele, against the insurance industry has triggered a tweek on how the business of insurance should be conducted.
His outburst attracted the attention of the Commissioner for Insurance Olusegun Omosehin; the leadership of Nigerian Insurers Association (NIA); Nigerian Council of Registered Insurance Brokers (NCRIB) and other stakeholders, leading to a meeting with him, today in his office in Ibadan.
While expressing his misgivings on how his insurers have related with him, Ayefele said: “To everyone asking me if I didn’t insure my music house, how can I erect a mighty building like that and not insure it?
“Some years ago, I insured my musical equipment. One day, there was an accident in Sagamu and they got destroyed. I expected the insurance company to take it up immediately but they didn’t. I wrote to them and got a police report. They said they would go to the scene of the accident and investigate which will take time. I had to get a lawyer before they gave me something small
“A friend told me that he used to sell wristwatches and he insured his shop.
One day, robbers entered the shop through the ceiling and took all the watches. He reached out to the insurance company, they inspected the shop and told him that why didn’t he put a burglary proof on the ceiling. He got a lawyer who dragged the case with them. Till today, they didn’t pay him a dime. If I should put Fresh FM on hold till when the insurance company answers us, we will not come on air again throughout this year. They will first start an investigation into what caused the fire. I am not against insurance but they don’t answer on time.”
To quickly extinguish the fire set by his outburst, expectedly, the industry leaders made quick attempts to reach out to the music icon to clear the air on the varacity of his claim against the industry following the inferno that ravaged his radio station in Ibadan.
Fortunately, there was a breakthrough with the President of NCRIB, Prince Babatunde Adeleke Oguntade securing a link to the music maestro.
With the directive of the Commissioner for Insurance, Olusegun Omosehin, the NCRIB President led a team to Ayefele in Ibadan.
Ayefele received the delegation not without ventilating his angst against the industry based on past awry relationships he had with the industry at the point of claims payment.
Responding, the NCRIB President took time to educate him about insurance operations and expressed sadness over the bad press that came from him.
The NCRIB President, right on the spot, put a call through to the CFI, who spoke directly to Ayefele assuring him that the issues would be diligently looked into. If you ask me, that was a master stroke in image management and redemption!
The tempo of discussions changed and Ayefele said he felt honoured and assured that things would turn better for the industry and that he had agreed to complement the campaign of industry as a music ambassador.
Lessons
*Policyholders should express their misgivings when they are treated wrongly by insurers
*They should use their platforms and connections to seek redress
*They should not suffer in silence, speak out through proper channels
*Ensure you have a case before making condemnations.
*Insurance practitioners should make quick responses to complaints.
*Insurance practitioners should unite in addressing claims issues.
While efforts are in place to settle Ayefele’s claims impasse, insurance industry should ensure that all aggrieved policyholders are treated fairly, not according respect to people according to their societal values.
