Consolidated Hallmark Insurance Limited and CHI Life Assurance Limited are urging for stronger partnerships with insurance brokers. They made this call during the Ibadan Professional Brokers Forum, aiming to foster growth in Nigeria’s insurance industry.
The two companies, both part of Consolidated Hallmark Holdings Plc, believe that better cooperation among insurers, brokers, and other stakeholders is essential. They stressed that understanding customers’ needs and developing relevant products is key to rebuilding trust in insurance.
Leading the discussion were Mary Adeyanju, CEO of CHI Limited, and Tope Ilesanmi, CEO of CHI Life Assurance. They highlighted the importance of brokers as a vital link between insurance providers and policyholders. Adeyanju noted that brokers are crucial in identifying risks and ensuring that insurance solutions meet customer needs.
Adeyanju explained that insurance plays a critical role in helping businesses recover after disasters. She encouraged brokers to collaborate with insurers to identify market gaps and create products that genuinely address customer needs.
She also called for a shift in how the insurance industry is perceived, urging brokers and insurers to work together to improve its image. Brokers should help clients understand their coverage and the value of insurance, she added.
Ilesanmi shared that CHI Life has evolved from a small life insurance company to a full life assurance provider, with a significant increase in capital after recapitalization. He mentioned that the company has paid out substantial claims recently, demonstrating its commitment to customers.
Both leaders emphasized that the future of insurance relies on building trust and stronger partnerships between insurers and customers. They reaffirmed their commitment to enhancing service standards and delivering customer-focused solutions in Nigeria’s insurance market.
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