Saturday, April 17African Business News
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‘How industry can improve insurance product offering’

‘How industry can improve insurance product offering’

Insurance
Diversifying insurance products to meet the needs of Nigerians will help to increase insurance penetration across the country, experts have said. Besides, helping people to understand that insurance is key to a secured future should be a compelling message to Nigerians, whether average or below average families, while the operators prepare to honour their obligations. Industry stakeholders blame the failure of the government to enforce the provisions of the Insurance Act, especially the compulsory insurances has frustrated the goal of increasing insurance penetration in Nigeria. According to them, most Nigerians do not believe in insurance, because the products are not being marketed well, which has become a problem not only to the industry but also impedes economic development....