Leadway Assurance has always shown interest on the role of Information Technology as a framework for connecting the dots for insurance penetration in Nigeria.
To this end, the renowned and reputable Insurance giant partnered with the National Association of Insurance and Pension Correspondents (NAIPCO), to host seminar for Insurance Correspondent.
The seminar held on 28th of February, 2018 at Leadway’s Training Academy Iganmu, Surulere, Lagos, did not fail to bring about in-depth insights to prime matters and misconceptions in all regards to the Insurance market.
Basically and in accurate detail, several aspects of the market where specifically expatiated on by speakers drawn from Leadway Assurance Plc.
Faculty Member, Leadway Learning Academy, Olalekan Davids, took up the subject on ‘Understanding Life Insurance; Focus on Annuity’
He identified that at a time Senior Citizens and Retirees in this country were dying on queues to gain access to pension funds.
With the likes of Leadway play now in the market, such occurrence has been put down to a minimal low. Thus, Leadway offers an Annuity feature to their pension scheme, which allows retirees that have attained the age of 50 earn at least half of their monthly income as at when they were still in active service.
Head of Retail Business, Leadway Assurance, Tunji Amokade , dwelled on Micro-Insurance Business in Nigeria.
He emphasized on barriers to Micro-Insurance in the Nigerian Community, and measures to jump over them hence enabling the man on the street access Insurance.
With Insurance Policies such the “Home Flexa and Hospital Cash” that allow claims of up to NGN500,000 in benefits with as little as NGN2,500, and the Mobile Insurance Office, Leadway does well to enable the community jump this barrier.
‘Guide to Financial Reporting in Insurance’ was the topic treated by Head of General Accounts, Leadway, Samuel Baloye.
Baloye said that preemptive measures to reporting in Insurance as well as records keeping to ensure accuracy in RSA to avoid errors and situations in pension schemes must be adhered to.
In her closing remarks, Executive Director, General Business, Leadway Assurance, Ms. Adetola Adegbayi pointed out the roles Journalists have to play in inspiring the public to demand value claims from their Insurers.
“We have no rights to breach public trust, take money from people and refuse them when they make a claim. Most people don’t see the value in insurance, and some people don’t even see the need in making a claim when a liability incident occurs. As custodians of public opinion, Journalists are obliged to encourage people make claims to insurance funds, hence the issues of rate-cutting will die.”
The Leadway Training for Insurance to Media Correspondence was sequel to its Maiden Edition held on 26th October 2017.
The training dwelled extensively on the role of Information Technology as a framework for connecting the dots for insurance penetration in Nigeria.
Group Photograph at the closing of the event.