Registered Insurance Agents slam operators over exclusion from rebranding project

The Association of Registered Insurance Agents of Nigeria (ARIAN) has bemoaned its exclusion from the N300 million insurance rebranding project to tackle key issues that led to public disdain on insurance business.

Olamerun Gbadebo, President of the Insurance Agents, in Lagos recently expressed misgivings over exclusion of the association in the project, but urged drivers of the initiative to first rebrand internal mechanism of insurance practice, before embarking on the proposed project.

The ARIAN President mentioned that efforts made by the drivers of the project would amount to futility, if issues like the internal structure of the agency system; remuneration of agents and review of brand strategy of agency marketing are not properly addressed.

The allegation that conduct of agents in the past contributed to poor image of the industry, Gbadebo, said should prop drivers of the project to engage Insurance Agents in remaking the image presently.

He stressed that since agents are field workers, they should be brought in as change ambassadors in the new concept.

He however, urged underwriters to critically examine the remuneration package of agents, stressing that on a weekly basis, underwriters put up advertorials for positions of marketing executives, but never get people to recruit, irrespective of the high rate of unemployment in the country.

He maintained that when underwriters interview 100 applicants for marketing job placement, only about five of them take the job, while 95 reject the job due to poor remuneration.

He said the 95 that rejected the job offer, would thereafter go around painting the industry in bad light.

Speaking on how the association, can help drive the project, Olamerun Gbadebo, President of the Association of Registered Insurance Agents of Nigeria (ARIAN) called on the proponents to integrate the association in the project so that issues around agents could be properly addressed and that the agency network should be urgently restructured to give agents their rightful position in the industry.

Gbadebo posited that going ahead with the project, without addressing issues around the agency business, would amount to throwing money at the perceived image problem, whilst leaving main causes of the problem.

It would be recall that the project which was proposed to commenced in October this year, but was postponed to first quarter 2017 over the inability of the Insurers committee to raise the required funds.

The operators had hinged the project on financial contributions from members, but the targeted date could not hold due to inability of some operators to meet their financial obligations.

Recently, ‘Rasaaq Salami, Head Corporate Affairs, National Insurance Commission (NAICOM), said that the project would kick starts in the first quarter of 2017, adding that by then all necessary requirements to make the project successful would have been put in place.

Although, insurers have adopted the rebranding initiative as a vehicle to transform their business through the use of radio and social media platforms.