x

Expert harps on importance of technology to drive insurance activities

Mr Ekerete Gam-Ikon, an insurance expert, has advised insurance companies to adopt technology to drive their activities in line with the digital world.

Gam-Ikon gave the advice in an interview with the News Agency of Nigeria (NAN), on Tuesday in Abuja.

He explained that as the world had gone into Information Communication Technology, it was necessary for insurance companies to key into technology.

The expert decried insurers’ slow pace at adopting modern digital technology because of legacy issues.

“Poor adoption of technology by insurers is another critical reason why people do not key into insurance.

“Unfortunately, insurers are slow at adopting modern digital technology because of legacy issues but this excuse cannot stand for too long, if insurance needs to increase its penetration and contribution to our Gross Domestic Product (GDP),’’ he said.

He also enjoined the companies to create more awareness on why people should key into insurance.

Gam-Ikon said that people hardly key into insurance because the insurance sub-sector was yet to impact on the lives and activities of people.

“There is the big issue of communication which many analysts call poor awareness, education and enlightenment,’’ he said.

The insurance expert added that when good testimonies are been told to others, more people would key in.

Gam-Ikon said that people were reluctant to go into insurance because of the sad tales they had heard from generation to generation, regretting, however, that the insurance industry was not addressing the issues.

“People fail to key into insurance because there are no alternative when the unexpected occurs.

“They have to be proactive because this cannot stand for too long if insurance needs to increase its penetration and contribution to our Gross Domestic Product.

“In addressing this issue, there will be need to improve the connectivity of the insurance sub-sector with the other sectors of the economy with the shared vision to enhance the quality of lives of our people,’’ Gom-Ikon said.

Another insurance expert, Hajiya Hafsat Hassan, urged Nigerians to key into insurance as the advantages were more, in case of any eventuality.

She said that religion was another reason why people don’t insure, since their faith does not support it.

Hassan also advised insurance companies to make their terms flexible so that people could get insured.(NAN)

Hot this week

Editors Urge Government To Create Safe, Enabling Environment For Journalists

· Ask security agents to find missing Vanguard journalistAs...

EXCLUSIVE: Buhari orders probe of Isa Funtua, AMCON over keystone and Etisalat

Following the controversy generated by the leading opposition party,...

6 Signs your boyfriend thinks you are ugly -Take note of No. 2

They say there are three kinds of people; the...

2023: South-East, Middle Belt Forum Endorses Peter Obi

The South-East and Middle Belt Forum has endorsed the...

WOMAN empowers over 70 Women in Yenagoa

From Rhoda Nnachi, YenagoaIn commemoration of the International Women's...

Nigeria At Crossroads: Underpinnings Of Good Governance, Encumbered By Leadership Quagmire

PATRICK WEMAMBUJohn Maxwell, celebrated American Author and Speaker could...

House Public Accounts Committee Recovers ₦28.7 Billion for the Federation in One Week

Secures Additional ₦199.3 Million from Zenith Bank, GTB Through...

Eha-Amufu indigenes in Enugu debunk allegation of recent mass killings, arson

… I’m alive, rape victim denies protesters' claim she's...

FG Moves to fast-track SDGs Implementation at all levels

By Bobby OshokeAs Nigeria continues regional consultations on...

Plateau group commends Arch Bankat for his outstanding achievements at JMDB

By Israal Adamu, JosPlateau Youths for Good Governance Agenda...

*NTAC DG, Buba Yakub Celebrates Amb.Tuggar On His Birthday.

*Lauds His Selfless Commitment To Service To Nigeria And...

SDP Youth Group Rejects el-Rufai’s Defection, Alleges Attempt To Hijack Party

*Say's he started pushing for SDP leadership change less...
spot_img

Related Articles

Popular Categories

spot_imgspot_img