Expert Seeks Growth In Insurance Industry

A veteran insurance

broker, Ezeani Amarachi has decried the slow pace of growth of insurance agents and brokers in the country, saying that having 1668 registered agents and 309 brokers in the industry were not enough to tackle the challenges of meeting the growing expectations from the insuring public.

Amarachi who stated this recently at Isaac Boro Park, venue of the Port Harcourt International Trade Fair, said, this is more so, as industry stakeholders continue to take the industry to the next level to effectively market their products.

According to him, the industry regulator, NAICOM has verifiable statistics to guide it in its over sight function “because it knows to large extent the number of practitioners in every segment of the industry, unlike in the past when insurance was an all-comers affairs”.

He therefore charged agents and brokers to flow with the emerging changes and develop effective leads to move the frontiers forward, noting that the crucial step they must take in funding insurance agent leads is to build a set of connections with their contacts.

The veteran acknowledged that the Nigerian Council of Registered Insurance Brokers (NCRIB) was ready to make changes in the industry.

He posited that selling insurance plans to support savings could be a very profitable job, as one stands to earn residual income and a field of potential client referrals, which is the instant you develop as a set of regulars.

The broker stressed that insurance leads are a favourable  element that helps, “agent to get some fruitful sale results. They help agents to also initiate the process of selling insurance and in addition, he said, agents can get information on other people who are dealing in the same industry in insurance lead reviews.

He opined that in the modern world, many people apply the advantage of the information communication technology for updated information, and increasingly, to buy products and services, saying that it is beneficial to select a prospect that is right for insurance product and could get leads for whatever type of insurance business.