State Governments & MDAs
Consulting for this category of partners is at ZERO COST to the State Government or MDA. Still we will generate at least 2,000 new jobs even in the smallest State in Nigeria.
Any State or Federal Government MDA saddled with the responsibility for Fire Fighting and Safety Management, Wealth Creation, Rural Development, Women Empowerment, Law Enforcement, Building Approval and Control, Business Permit, Agric. Value Chain, Commerce and Industry, etc. wishing to Generate Employment, IGR, SME Funding and Economic Growth through Insurance and also ready to put an end to extra-budgeted expenditure on Flood, Market Fire, Building Collapse, Gas Plant Explosion etc.
• Insurance is a Publicly accepted and Socially valuable mechanism for wiping-off peoples tears in times of tragedies with potentials of alarming magnitude in any economy withlarge population, high Family risk exposure, high dependency ratio, but little Social Welfare Schemes.
• Insurance is the 3rd Largest Industry in the world after Oil & Gas and Automobile.
• Insurance is a multi – product business segment in the Financial Services Sector with over 100 Wealth Protection and Wealth Creation Products, – Property, Casualty, Liability, Pecuniary, Life, Pension Bancassurance, Microinsurance, Takaful, Social Welfare, Accident and Sickness, Oil and Gas, Marine and Aviation, Bonds and Guarantees etc.
• The level of unutilized business opportunities in Insurance in Nigeria today is 94.0%.
• Insurance business in Nigeria has the capacity to create 800,000 new jobs and also the potential to stimulate the growth of other sectors of the economy like SME, and Mortgage.
• The on-going transformation of Nigeria to a credit economy and the fight against corruption are the systemic enablers needed for Rapid Insurance Growth in any economy.
• There are 7 Compulsory Insurance Provisions in the Federal and Lagos State Government Laws that can be enforced in Nigeria to reflate the National and State Economies.
• Income Growth from Insurance Business can double on Annual basis as long as the Investor secured the renewal of his/her previous year’s transactions.