Patronising brokers ‘ll solve problems of unpaid claims in insurance sector – NCRIB CEO

From left: Publisher Business Journal, Prince Cookey; Publisher Bislad News, Bisi Bamishe; Assistant Executive Secretary, Nigerian Council of Registered Insurance Brokers, Falade Adedayo; Publisher SuperNews, Ngozi Onyeakusi; Publisher Inspenonline, Chuks Udo Okonta; Executive Secretary, Tope Adaramola Insurance & Pension Editor, Nation Newspaper, Omobola Tolu-Kusimo and Business Editor Leadership Newspaper, Zaka Khaliq Olalekan at the event.

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Chuks Udo Okonta

The Executive Secretary/Chief Executive Officer (CEO), Nigerian Council of Registered Insurance Brokers (NCRIB) Tope Adaramola, has said complaints on non-payment of claims, inappropriate treatment on policyholders by insurance firms often come from people who didn’t see the need to patronise insurance brokers.

He therefore called on the public to purchase their insurances through registered insurance brokers to enable enjoy full benefits of insurance, stressing that to reduce the image problem of the industry, the public should be encouraged to look seriously on patronising brokers.

Adaramola said this when members of the Insurance and Pension Editors of Nigeria (IPEN) paid a courtesy visit to the NCRIB in Lagos, adding that until Nigerians understand the pivotal value of insurance broking in insurance intermediation process, the challenge of bad image would remain.

He noted that brokers are professional intermediaries between the insured and insurance companies, to the effect of assisting the insured get the best possible rate and enlightening insurance clients about technicalities of insurance.

The NCRIB CEO, said insurance is not banking, adding that a lots of insurance wordings are technical and they become incomprehensive to members of the public.

According to him, engaging services of brokers, is similar to engaging a lawyer by a plaintiff in a court of law.

“Buying insurance without the help of a broker is like going to a law court without a lawyer. Regardless of how vocal you are or whether you have studied english language and you can speak big grammar, you are not going to do well when you become your own attorney. You need a lawyer, who understands your language as well as that of the judge, in such a way that you just have to fold your arms and see how things play out,” he said.

He noted that brokers are policyholders companions who take them beyond the confines of their thoughts about their policies, making them maximize value for it.

He maintained that policyholders pay less when they engage brokers, stressing that brokers should be friends of everything insurance buyer.

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