Over 500,000 jobs exist yearly in insurance agency network – ARIAN boss


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Chuks Udo Okonta

Insurance agency network can provide employment opportunities for over 500,000 graduates every year, President, Association of Registered Insurance Agents of Nigeria (ARIAN) Kunle Odewunmi, has said.

He disclosed this at the 2022 ARIAN Conference and Award Given Day in Lagos, adding that Nigeria population stood at more than 200 million and 60 per cent of this are below 65 years with over 105 million working class.

He noted that the insurance industry has attracted more foreign direct investment into the Country more than any other sector, stressing that obviously, Nigeria has massive potential for Insurance business growth, no wonder several foreign Insurance Companies are making inroad to Nigeria.

He submitted that insurance companies in Nigeria have not been able to leverage on the massive market because of low investment in technology.

“We as an Association, our strategic objective is to drive Insurance penetration in accordance with National Insurance Commission (NAICOM) Market Development and Restructuring Initiative (MDRI).

“The insurance Agency network can provide employment opportunities for over 500,000 graduates every year while at the same time help to mop up investable funds for national development,” he posited.

He maintained that
as an association, his administration is going to empower members through Marketing Automation, because they believe agents need technology to Access more clients and market.

He submitted that the theme of this year’s conference was very symbolic and strategic in view of the massive transformation going on in the insurance industry.

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