Business
‘Improved Living Standard ’ll Boost Insurance’
The Head, Corporate Affairs, Chartered Insurance Institute
of Nigeria (CIIN), Mr. Joseph Obah has
said that improved living condition of Nigerians would lure them to insurance
policies.
Obah said in Lagos
that people’s standard of living normally affected their “insurance culture”.
He said that the poor living condition of Nigerians was
limiting them from taking insurance policies.
He said that it was hard for an average Nigerians to make
provision for insurance policies their budgets.
According to him, the insurance sector will blossom if
Nigerians can afford basic essentials of life without qualms.
“Insurance comes last in the priority table of most
middle-level Nigerians, while provisions for it is not found on the scale of
preference of many workers, he said.
He said that players in the industry were working
assiduously to improve the insurance culture by creating awareness about its
benefits.
Obah said that these efforts would not yield desired results
if the enabling environment was not in place.