The Managing Director, Custodian and Allied Insurance, Toye Odunsi, said the rebranding, also supported by industry regulator, NAICOM, and other stakeholders aims to change the perception of the public about the benefits of insurance, and to also spread awareness to the grassroots. Odunsi also said the media will be carried along in this campaign for wider coverage, adding that a lot of advertisements in the print, electronics, social media, and translations into local languages will be used to spread the message of the campaign. He said social media like Facebook, YouTube, WhatsApp etc will be used to reach out to the youths given its large population, since a lot of their activities thrive on social media. Recall that the Commissioner for Insurance, Mohammed Kari, last year, said these distribution channels would support insurance referral model, which is already in place and will enable insurers penetrate the grassroots. The Commission in the draft guidelines on independent agent, mutual, associations, community and state government financial advisor, believes this will also help deepen insurance retail market.Odunsi therefore urged all the Insurance companies and the stakeholders in the industry to pay their commitments early to enable smooth take off of the project.

Source: The Guardian January 15, 2018 01:30 UTC