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NAICOM, NYSC to collaborate on insurance awareness, penetration ─Official

In its drive to inform, educate and promote insurance benefits to Nigerian consumers and improve its penetration in the country, the National Insurance Commission (NAICOM) has said it will collaborate with the National Youths Service Corps (NYSC) in this regard.

Mr. Adeyemi Abubakar, Head of Market Development of NAICOM disclosed this during a seminar for insurance journalists, organised by NAICOM Saturday, October 3, 2020, in Uyo, Akwa Ibom State capital.

The NAICOM Head of Market Development stated that the strategy of the agency for penetration would be to set up weekly insurance Community Development Service (CDS) for Corps members in various states of the Federation.

Adeyemi said that Corps members who belong to the Insurance CDS group would go round to educate communities on the benefits of insurance.

The measure would promote public understanding of insurance mechanism, build confidence and help in the enforcement of compulsory insurance, he noted.

He added: “We want to collaborate with NYSC for the establishment of weekly CDS on insurance in the states.

“They will go round to sensitise the people and educate them on the benefits of insurance.

“People need to begin to talk about insurance in schools and other places the way they talk about banking.

“We want to instil trust in the minds of the people to build their confidence.”

He listed some of the benefits of insurance to consumers to include builders’ liability insurance, motor third party liability insurance and the group life insurance.

NAICOM is also partnering with the states’ fire service, revenue office and states’ Head of Service to help in the enforcement of insurance schemes, Abubakar said.

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