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Business News of Thursday, 18 November 2021


AIO seeks NIA’s partnership to drive market expansion

Nigerian Insurers Association Nigerian Insurers Association

The Executive Committee of the Africa Insurance Organization (AIO) has solicited the collaboration of the Nigerian Insurers Association (NIA) to establish a strong insurance market structure in order to profit from African Continental Free Trade Area (AfCFTA).

The AIO team led by its President, Tope Smart, during a courtesy visit to the association, said AfCFTA remains a game-changer to the benefit of insurance consumers in the African market.

Smart emphasised that there is a need for the Nigerian insurance market to upscale its digitisation programme to fast-track penetration.

According to him, the meeting with the Nigerian market is the beginning of AIO’s engagement with key markets in Africa to boost insurance penetration in the region.

“As part of the engagement, we shall also be meeting with governments and regulators across the region to share with them their roles in market penetration, Smart added.”

He expressed his gratitude to the market for hosting a very successful conference.

Thereafter, he applauded the market for its support at the investiture ceremony where he became the 47th president of AIO, promising  not to disappoint them.

Smart had unveiled a five-point agenda which include: increased awareness, adoption of digitalisation, collaboration with other markets, collaboration with governments, regulators and building customers trust, to serve as a guide during his tenure as the president of the association.