Stanbic IBTC Insurance Brokers recently hosted a webinar that equipped logistics and supply chain operators, SMEs, and business leaders with practical insights on risk management and insurance adoption.
Themed “Smart Insurance for Savvy Businesses: Marine and Goods-in-Transit Insurance Explained,” the session highlighted how customised insurance solutions can safeguard businesses against risks associated with transporting goods locally and internationally.
Discussions explored the value of Marine Insurance and Goods-in-Transit Insurance in reducing financial exposure, protecting goods in motion, and ensuring operational continuity across Nigeria’s fast-evolving business landscape.
Delivering the opening remarks, Temitope Popoola, Executive Director, Stanbic IBTC Insurance Brokers, underscored the urgent need to deepen insurance adoption in Nigeria.
“Businesses face risks that can arise without warning. Yet, insurance penetration in Nigeria remains at just about one per cent—far too low to guarantee economic stability. At Stanbic IBTC Insurance Brokers, we are committed to making insurance more accessible, fostering a culture of risk management, and ensuring prompt and fair claim settlement,” she said.
Temitope noted recent milestones, including the payment of a $1.2 million claim to a client and an offer of over ₦1.3 billion to another.
She also highlighted the launch of a mobile app that allows clients to conveniently purchase and monitor their insurance policies in real time, reflecting the organisation’s drive to build trust and enable businesses to operate with confidence.
Adding technical depth, Abiodun Salami, Head, Claims, Stanbic IBTC Insurance Brokers, explained the available coverage options.
“For marine insurance, we offer three levels of cover, each tailored to specific risks up to comprehensive protection. For Goods-in-Transit, there are two options—restricted cover and all-risk cover. It is important for business owners to engage an insurance broker to identify the most suitable option for their operations,” he said.
The initiative aligns with Stanbic IBTC Insurance Brokers’ mission to close knowledge gaps in Nigeria’s insurance landscape. By providing platforms for dialogue and education, the firm continues to position insurance as a cornerstone of business resilience.
