Stakeholders Urge Insurance, Pension Operators to Prioritise Customer Value

Ebere Nwoji

Stakeholders in the insurance and pension sectors have urged operators of the two sectors to deploy funds raised through recapitalisation to improve services, develop innovative products and strengthen customer confidence.

Speaking on the insurance sector, Managing Director, SanlamAllianz General Insurance, Mrs Jacqueline Agweh, said the post-recapitalisation era had given insurers an opportunity to develop products that would address customers’ specific needs.

She said that insurers must work closely with customers to understand those needs and provide tailor-made products and services.

Also speaking, Executive Director, NLPC Pensions, Mr Babalola Rufus urged operators to ensure that policyholders and Retirement Savings Account (RSA) holders had their funds secured, properly invested and paid when due.

Rufus noted that shareholders and contributors had committed funds to the insurance and pension sectors expecting value from their investments and contributions.

He said the success of recapitalisation in both sectors should ultimately be judged by the benefits delivered to customers.

On his part, Managing Director, Zenith Pensions Custodian Ltd., Mr Peters Elendu, advised pension operators to invest in technology, artificial intelligence, data analytics and innovation to make pension services easier and more accessible.

Earlier, Mrs Ebere Nwoji, Chairman of NAIPE said the conference was organised to bring together regulators, industry operators and investment experts to examine how the capital raised by insurance and pension institutions could be deployed prudently.

Nwoji said this was because effective investment of the funds would help generate sustainable returns for investors, strengthen the economy and improve the long-term financial security of Nigerians.