COVID19: Stanbic IBTC reiterates need for insurance

In commemoration of World Insurance Awareness Day, Stanbic IBTC Insurance Brokers has reiterated the need for insurance, especially at the present time of the novel coronavirus pandemic.

Speaking to the media via a webinar, the Chief Executive, Stanbic IBTC Insurance Brokers, Anselem Igbo stated its commitment in addressing identified needs in the insurance brokerage sub-sector and ensure that Nigerians are adequately protected.

He noted that there is no better time than now to emphasise the necessity for insurance, looking at the coronavirus (COVID19) pandemic which has thrown a wrench in the works and further complicating lives of citizens.

Igbo explained that insurance plays a critical role in promoting economic growth and development by ensuring the efficient allocation of financial resources from the surplus to the deficit unit and ultimately bulwark for business sustainability.

According to him, the recognition of the Insurance Awareness Day offers a chance to get familiar with available and accessible insurance covers and to stress the importance to always evaluate present belongings and the corresponding covers they need.

“In addition, the World Insurance Awareness Day reminds us of the need to engage the services of brokers for favourable quotes for various insurance classes that suit their needs.”

He added that the insurance business is a unique one which enables clients effectively manage their risks, saying that such risks may include theft, accident, robbery, injury, man-made and natural disasters, and even death. Insurance helps to achieve peace of mind through risk transfer and efficient insurance claims.

Igbo pointed out that in response to bridging the adoption gap, the Stanbic IBTC group created the Insurance Brokerage business four years ago when the organisation began its full operations sequel to the granting of a license by the National Insurance Commission (NAICOM) in January of 2016.



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