By Lucy Nwachukwu
Mr Ben Ujoatuonu, Managing Director, Universal Insurance Plc, on Thursday said with increased public awareness and prompt settlement of claims by policy holders, Nigeria’s Insurance sector would thrive.
Ujoatuonu, said this at the inauguration of the Retail Insured Family Association of Nigeria (RIFAN), with a theme “Enhancing Insurance Confidence in Nigeria: The Role of Policy Holders” in Abuja.
According to him, Nigeria’s insurance sector has great potential due to its huge population but is best be described as struggling, with less than one million adults having a form of insurance.
He said: “Beyond restoring insurance industry confidence, there is need to further deepen insurance penetration in Nigeria.
“The insurance industry must rise up to exploit Nigeria’s huge population to advantage; for a meaningful result, there should be coordinated approach in creating awareness in the grass root.
“On a broader perspective,…
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