Insurers Brainstorm with Brokers on Building Future of Sector

Ebere Nwoji

Consolidated Hallmark Insurance Limited (CHI Limited) and CHI Life Assurance Limited, both members of Consolidated Hallmark Holdings Plc, recently assembled insurance brokers together at the Ibadan Professional Brokers Forum to look at the topic: “Industry’s Next Chapter Will Be Written by Many Hands.”

The two underwriting firms and the brokers at the meeting agreed that insurers cannot build that future alone but all would depend on how effectively brokers, underwriters, and other stakeholders in insurance sector work together to understand customers, design relevant solutions and strengthen public trust.

Leading the discussion were Mrs. Mary Adeyanju, Managing Director/Chief Executive Officer, CHI Limited, and Mr. Tope Ilesanmi, Managing Director/Chief Executive Officer, CHI Life Assurance Limited. Both called for deeper cooperation, bolder innovation and a sharper focus on the customer.

Adeyanju, explained that insurance helps companies stay operational and recover after disaster strikes. “Business continuity is about ensuring that a company continues in business even after experiencing a catastrophe,” she said.

She placed brokers at the heart of the value chain because of their closeness to policyholders.

According to her, brokers are the first respondents when a claim occurs. “You are the first point of contact, and you know the reality of insurance,” she noted.

Adeyanju urged brokers to partner with underwriters to spot market gaps and shape products that solve real problems. “We need to develop products that speak to the needs of people, not just products created to sell insurance,” she said.