The Group Managing Director, NEM Insurance Plc, Mr. Tope Smart in an interview with Business Day yesterday, May 23, 2016 opined that the future of Insurance rested with the people at the lowest ebb of society who might never even have heard of what insurance really was about.
He said that NEM has started making efforts to reach the people at the grassroots through retail and micro-insurance. In order to achieve this, he continued, "We are also working with other stakeholders in the industry to see to it that the uninsured are insured"
He explainedthat although NEM Insurance has created a niche for herself as a "customer-satisfying" organization, she would not rest on her oars but seek new and creative ways through which she would better satisfy her customers.
Speaking further on the Insurance sector, he pointed out that the sector was still evolving, not only in Nigeria, but also in Ghana where NEM has a subsidiary. He expounded that motor insurance being the traditional line of non-insurance in the country sits as one of the biggest segments of insurance business.
He further explained that the current FX policy affected every operator in the economy, the insurance industry inclusive, voicing his hope that the issue would be addressed as soon as possible. He pointed out that when people are unable to import goods into the country, the marine insurance element is lost. Thus, if imports start coming in, the insurance element in the import will come to the insurance industry.
In conclusion, he reiterated that NEM would remain true to her word to provide optimum satisfaction to her customers and ensure that they are happy at all times.