African insurers to deliberate on revolutionising insurance services

African insurers to deliberate on revolutionising insurance services

Insurance managers across the African continent will meet in Nigeria to discuss possible means of revolutionising insurance products and services across the continent.

This they want to do on the platform of the African Insurance Organisation (AIO), with Nigeria hosting the 47th edition of the AIO Conference and Annual General Assembly – expected to come off between 4th and 8th of September 2021 in Lagos.

The choice of venue for the conference, according to the local organising committee (LOC), as a consequence of the ongoing COVID-19 pandemic that has impacted the business operating environment, thus ensuring that most businesses and social interactions happen virtually through the help of ICT.

Speaking at a virtual media conference on Nigeria’s level of preparation to host the event, the LOC chairman Mrs Ebelechukwu Nwachukwu said: “There is no doubt that the COVID-19 pandemic had left in its trail very debilitating effects on many economies, and there are efforts aimed at addressing these challenges.

“This informed the decision of the LOC to use the occasion of the 47th AIO conference as an opportunity to contribute in discussions around how insurance can contribute to ongoing efforts at rebuilding economies seriously impacted by the pandemic”.

She disclosed that the conference will equally be discussing four other sub-topics to address other contemporary issues affecting the insurance industry –  listing them as including the new normal; How leaders can reset for growth beyond COVID-19; Regulation, innovation and the future of insurance; Harnessing the potential for growth and development in the Nigerian insurance market; as well as AfCFTA and the African Insurer, Prospects and Opportunities.

Nwachukwu, who is also the Managing Director/CEO of NSIA Insurance Limited, noted that the conference is going to be hybrid and is expected to attract dignitaries from government circles, the insurance sector, foreign and local investment world, information and Communication Technology (ICT), among others.

The conference, she said, was scheduled to be held last year, but due to the COVID-19 pandemic, the AIO secretariat in conjunction with the local organising committee decided to hold it this year as a hybrid event to cater for those who will not be able to attend physically.

“We need to emphasize that in planning this conference at this time we have taken full cognizance of all the health protocols and restrictions on public gathering, hence the decision to make it a hybrid event.

“To give further impetus to this decision, we are limiting the number of physical attendees while others are being encouraged to take advantage of the virtual conference to participate from their different locations. For physical attendees, all COVID-19 protocols will be observed and implemented to the letter,” she pointed out.

To her, one of the major highlights of the 47th Conference will be the assumption of office by the immediate past chairman of the Nigerian Insurers Association (NIA) and the group managing Director of NEM Insurance Plc, Tope Smart, as the next president of the Pan African organisation for the next one year.

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