An underwriting firm, NSIA Insurance Limited, has expressed a commitment to diversify insurance products to meet the needs of Nigerians.
The insurer also appealed to the public to realize the importance of insurance to reduce risks.
Speaking at a press briefing to announce his appointment at the weekend, the chief executive officer of the underwriter, Moruf Apampa, said there was a need to see information and communication technology (ICT) as a key driver of insurance growth.
Moruf said despite the slow adoption of insurance, there is hope that penetration and premium payment will increase as the industry begins to perform well.
He explained that the organization remained committed to its vision and created shared values and innovative ideas to move the company forward.
According to him, the company will continue to pay attention to excellent service delivery and the adoption of global best practices in its industry.
Regarding the appointment of the new managing director, the Chairman of the Company, Dr. Adesegun Akin-Olugbade, said Moruf has broad experience within the insurance industry.
His insights according to him include a deep understanding of the Insurance business value chain and a clear understanding of the cutting edge technological requirements needed to transform the sector today for futuristic growth and value.
Moruf was responsible for driving successful business operations, improving corporate productivity and overall business delivery in management, executive and board roles.
Until his recent appointment as the Managing Director/CEO of NSIA Insurance, his exposure included his role as Executive Director (Technical and Business Development) for FBN Insurance Limited now Sanlami Insurance, and his turnaround assignment as Chief Executive Officer of Sunu Assurances Nigeria Plc including , Nigeria; his organizational transformation journey with, among others, American International Insurance Plc (AIICO).
He launched the first USSD in the insurance industry in Nigeria and attended executive leadership programs at Lagos Business School, Columbia University Business School and Howard University School of Business.
He is a graduate of insurance from Lagos State Polytechnic, he holds a Master of Business Administration (MBA) from the University of Ado-Ekiti and he is a fellow of the Chartered Insurance Institute of Nigeria.
“We are pleased to have Moruf on board as our new MD/CEO. We believe his experience will be very valuable to the company. We are confident that he will be a transformative force in developing and driving NSIA Insurance forward – in a very exciting but also challenging time.”