NAICOM Boss tasks PILA to Deepen Insurance Penetration

The National Insurance Commission (NAICOM) has urged the Professional Insurance Ladies Association (PILA) to use their position to influence the acceptance of insurance for deepen penetration and growth of the industry.

Sunday Thomas, commissioner for Insurance and Chief Executive Officer of NAICOM gave the charge during the investiture of Margaret Nkechi Moore as the 14th President of PILA held in Lagos.

Thomas explained that PILA being the foremost female professional body in Nigeria has over the years provided a forum for developing and promoting forthright professional insurance ladies, whose attributes would be the highest demonstration of empathy in relating with insurance policyholders.

The NAICOM boss said increasingly, insurance is becoming accepted as a social intermediation, rather than a commercial concern and so requires that its offered and sold in that sense.

According to him, people are more likely to see the value and benefits of insurance when presented as a social product and with women in the lead.

“I am highly confident that you and your team will work assiduously to see that women lead by example in deepening insurance penetration; using your influence as mothers, wives and above all women professionals to challenge the men that indeed you can do better,” Thomas said to the new president and her team.

The President of PILA, Margaret Moore said her administration will strive to have active PILA chapters in all the six geopolitical zones of the federation with Lagos remaining the hub.

Commenting on the PILA Africa project, she said her administration will key into the recommendations of the committee set up in 2013 in Gambia to work out modalities for establishment of the body as a Pan African insurance ladies organisation.

In her words: “This administration shall key into this to ensure that it becomes a reality, up and running with well-established constitution for the growth and empowerment of African Insurance Women.”