We are a group of companies engaged in Insurance Consulting, Marketing and Training since 2002. Our company has in the past 10 years been involved in almost all the Insurance Market Development Initiatives undertaken in Nigeria by the Financial Services Regulators, The Regional Insurance Market Associations and the Multi-lateral Organisations. Some of these initiatives are: The Nigeria Financial System Strategy 2020 (FSS 2020 Insurance Sector Report), Country Diagnostic Study of Microinsurance and Takaful in Nigeria, Institutional Building Blocks for Insurance Development in Africa and Insurance Market Development and Restructuring Initiatives (MDRI), Nigeria.
Two years ago, we decided to conduct a comprehensive research into the causes of Low Insurance Penetration in Nigeria (0.3% of GDP in 2014) and in the process discovered that for insurance to grow in Nigeria, we need to develop the Relevant Products, Improve on Customer Service, Expand Access and Usage of Insurance, reduce the Negative Image, enhance Customer Education, widen Customer Complaint Avenues and Enhance Customer Benefits relative to Cost. Our focus in the past has been on these solutions and henceforth, the Nigeria Insurance Industry will be able to play its Strategic Role of stimulating the growth of other sectors of the economy like Mortgage, generate employment to the industry’s full capacity of about 800,000 jobs and serve as source of funds for projects of national development like SME and Infrastructure.