Fourth from Left: NCRIB President, Mr. Rotimi Edu, presenting a plaque of appreciation to Mr. Benjamin Udenyi, Police Public Relations Officer who represented Abiodun Alabi, Commissioner of Police, Lagos State Police Command, at the August edition of the NCRIB Members’ Evening sponsored by Leadway Assurance Limited, held at the NCRIB House, Alagomeji, Yaba, Lagos, as members of the management of NCRIB and Leadway Assurance flanked left and right watched in admiration.

 

Fourth from Left: NCRIB President, Mr. Rotimi Edu, presenting a plaque of appreciation to Mr. Benjamin Udenyi, Police Public Relations Officer who represented Abiodun Alabi, Commissioner of Police, Lagos State Police Command, at the August edition of the NCRIB Members’ Evening sponsored by Leadway Assurance Limited, held at the NCRIB House, Alagomeji, Yaba, Lagos, as members of the management of NCRIB and Leadway Assurance flanked left and right watched in admiration.

 

By Ngozi Onyeakusi—Leadway  Assurance Limited has disclosed  that it has introduced technologically driven broker management solution called the Brokers Portal  essentially conceived to simplify the process flow of transaction between the firm and brokers
This was made know by the Managing Director/Chief Executive Officer, Leadway Assurance Limited, Mr. Tunde Hassan-Odukale at the August edition of the Nigerian Council or Registered Insurance Brokers (NCRIB) Members’ Evening sponsored by the company in Lagos
Hassan-Odukale  was represented by  the Head of Sales, Mr. Shola Ajayi at the event.

Read his full Address

 

ADDRESS BY MR. TUNDE HASSAN-ODUKALE AT THE AUGUST 2022 NCRIB MEMBER’S EVENING

The President /Chairman, NCRIB

The Past Presidents, NCRIB

The Board of Directors/Council Members, NCRIB

The Executive Secretary, NCRIB

The Managing Directors of all Brokerage Firms Present

Executive Members of NAIPCO

All Members of the Press Present

My Colleagues in the Industry,

Ladies and Gentlemen

 

We are pleased to welcome everyone to the August edition of the NCRIB member’s evening. It is indeed an honour and privilege to be the host for this auspicious evening.

It is without doubt that the brokerage sector are critical stakeholders to the Nigerian economy as you have been the enablers in expanding insurance footprint in Nigeria. Your effort in placing local and international insurance businesses with insurance companies and skillfully representing the interest of the insurer and insured has been pivotal and as insurers, we thrive on this.

According to the World Bank Report, in 2018, the Nigerian insurance industry ranked 62nd in the world with $1.64 million collected in total premiums. While we have seen growth in the industry, we cannot rest on our oars as we still have a long way to go. Insurance penetration is still very low, ranking less than 0.5%. Not to bore us with statistics, this just goes to say that the progress we have made so far is as a result of the collective efforts of all stakeholders in the industry and deepening the penetration should remain the focus of every stakeholder.

Specifically for Leadway, your contribution to the business is critical to our success and keeps us going. We can attest to the fact that brokers contribute a major stake to most of the businesses that come from our insurance arm of our business. We value the relationship with you as you have contributed immensely to our success over the years, we look forward to achieving more together.

As part of our efforts to remain an agile organization in order to meet your ever-changing and dynamic needs, we have restructured our business along client-facing lines than divisional insurance business lines. This is to ensure that we have focal points on all our suite of products and services on a composite insurance /group services basis.
We have collapsed our old structure that was along business divisions of Life Insurance and General to revamp as Sales and Technical (including Operations) divisions. This will ensure that all our market-facing activities across the Leadway Group (Insurance, Health, Pensions, Fund Management) are intensified for a higher level of efficiency and agility to meet your financial protection and assurance needs all in one.

Also, we are not oblivious of the challenges that are emerging and some that have always existed, irrespective of these challenges we will continue to find ways around them. We will take learnings along the way, be agile and will not let go of our resilience. We don’t grow when things are easy, it induces complacency but challenges create room for improvements and for growth. The best way to overcome these challenges would require collaborative effort, a growth mindset and continuous improvements. It is important that we do not forget that innovation, knowledge gathering and continuous adoption of technology as it advances, is essential to our future.

Among other initiatives currently being implemented to improve on our customer experience, we have also put in place a technologically driven broker management solution called the Brokers Portal which was essentially conceived to simplify the process flow of transaction between us as underwriters and you ensuring business can be done in real time and providing more value to you.

Our industry is a remarkable one, marked with resilience and growth against all odds, it presents innumerable opportunities for improving our country’s economy. We anticipate more growth and successes in the industry and this remains our collective responsibility to ensure this. Collaboration as we know divides the task and multiplies the successes so this evening we celebrate our wins and then look forward to more successes because now more than ever, your role and contribution is even more reinforced.

We are pleased to be hosting this gathering once again as we look forward to doing more together

Have a good evening, ladies and gentlemen.