“As the Chairman Of Heirs Holdings
We Change Lives In Africa, We Know That Access To Capital Is Scarce, And Support Networks Are Poor; So, We Fill The Gap” – Tony Elumelu

Chairman of Heirs Holdings, Tony O. Elumelu gave his remarks during the
60th Anniversary of The Nigerian Council of Registered Insurance Brokers (NCRIB)

Read the lengthy post below as shared on his LinkedIn timeline:

Yesterday, I gave the keynote remarks at the 60th Anniversary of The Nigerian Council of Registered Insurance Brokers (NCRIB), I acknowledged the successes achieved to date but I emphasized the role that insurance can play, should play and must play in our society.

In my candid opinion, there is so much more that can be done in our industry, if it is to truly to realise its potential and serve our common good.

As the Chairman of Heirs Holdings my a private-owned investment company, we change lives in Africa and are transforming our continent. The financial services are critical pillar of what we do, and that is why we launched Heirs Insurance and Heirs Life.

We know that access to capital is scarce, and support networks are poor; so, we fill the gap. We democratise luck, just as we democratised banking and are democratising insurance. Financial services are not a privilege, but a right, and we want to make simple, smart insurance available to all.

We all understand the pivotal role insurance plays in any society. Our industry provides the much-needed safety and security, but let us ask ourselves are we doing enough? We need to be candid! Our industry’s contribution to national GDP is tiny.

Our reputation could be better, our practices more professional, our promises to our customers always honoured. A deep, well-regulated industry is a benefit for all – not least for the professional broker – the trusted and necessary confidant of the client.

The quality of governance, institutions, and practitioners of the sector is critical. That is why we are celebrating 60 years of the NCRIB – an institution almost as old as our country.

The NCRIB should play a key role in government advocacy. We cannot be bystanders. We need to be involved in the shaping of policies that affect the insurance sector. There is always room for improvement. We must strive to achieve the highest levels of professionalism and dedication in delivering excellent service to the public, who rely on us to provide them with comfort.

At Heirs Insurance and Heirs Life, we champion innovation. We cannot afford not to. Our customers demand it and the industry needs it, so we must do it. The insurance industry can benefit from innovation, across all aspects of our services, but for this to happen, there is need to reward and incentivise innovation across the industry.

And more importantly, we need to set up an industry wide annual award for innovation. What gets measured and rewarded, gets done! If this is done in a transparent manner in the free market, everyone will aim for it.

Source: Tony Elumelu | LinkedIn

Email: elora.akpotosevbe@yahoo.com