ICT, Insurance Experts Set for Maiden e-Insurance Conference

(Last Updated On: 2017-02-20)

Nahimah Ajikanle Nurudeen

Information and Communications Technology (ICT) stakeholders in Nigeria are set to dialogue with their counterpart in the insurance industry to generate ideas on how to use ICT to drive insurance penetration in Nigeria and develop appropriate framework for implementing such ideas.

The conference slated to hold on March 23, at the Lagos Sheraton Hotel has the theme: “Driving Insurance Penetration with Information and Communication Technologies”.

The conference is expected to bring together corporate organisations, ICT experts, insurance experts, academia, consumers of insurance products and regulators of both ICT and Insurance industries, to discuss how to use technology to deepen insurance penetration in Nigeria.

The conference, the first of its kind in the country, is been organised by Pinet Informatics Limited, the first Internet Service Provider in Nigeria, in collaboration with major stakeholders in Insurance and ICT industries.

Speaking at a pre-event press conference, the Managing Director of Pinet Informatics, Engr. Lanre Ajayi said the event will bring together practitioners in the insurance industry and Information  and Communication Technology  to  share experience, brainstorm, network, and conclude deals.

According to Ajayi, the  Insurance  industry  is  a  vital  part  of  the  Nigerian economy  but  the  industry  is  not  living  up  to  its full  potential saying, “there  are  less  than 1.5 million insurance policy holders in Nigeria out of a population of 170 million,  which translates to 0.9 per cent insurance penetration.” When compared to  23 per cent  bank  accounts  penetration, 105 per cent of telephone penetration and 55 per cent of Internet penetration,  then, there  is  a  lot  of  room  for  improvement in the insurance industry and this could be achieved by deploying the right technology, Ajayi said.

“The Nigeria insurance  industry  can  be  turned  around  if  the  industry transit to a technology driven one, the same way the banking industry got transformed through the infusion of information and communication technology in its service delivery processes,” he said.

Ajayi who is the former President of Association of Telecommunication Companies of Nigeria (ATCON), said after the conference, there would be one week training workshop on e-Insurance for staff of insurance companies.

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