By Mike Adeyemi
The insurance market in Kwara State have expanded by 45 per cent as more residents embrace policies due to more awareness.
This was disclosed by the Marketing Manager, Sovereign Trust Insurance Plc, Mrs. Ifeoma Judo during interview with Pilot Business in her office in Ilorinon Friday.
She said thepercentage was arrived at based on available statistics of applicants over time.
According her, the rate at which Kwarans embraced and insured their properties against risks has increased in recent time.
“People have begun to know more about the efficacy and importance of insurance policy now in Kwara State, unlike a decade ago when they disregarded it.
“Now on daily basis people in Kwara State acquaint themselves with the need to insure their property against risk as this is manifested in the high rate of applicants and statistics within our purview,”she added.
The insurance expert, however, decried apathy by artisans and traders for insurance policy, saying that many of them still see no reason to insure their life and property.
“Each time we embark on awareness and sensitisation campaign to market squares in Kwara, like Ojatuntun, Mandate market, Oja-Oba, even at the Local Government secretariats in the state, what people say is “it is God that takes and give”. They believe that whatever befalls their properties and lives is predestined,” Judo observed.
She said traders in the state have been enlightened on the need to insure their goods on the platform tagged; “Goods-in-transit insurance policy”, where they could get compensated when there is loss to their perishable goods.
“But unfortunately very few of the traders were able to embrace the policy,”she stressed.
She, then appealed to the state government to incorporate in the primary school curriculum studies on insurance to create awareness from the cradle.
“The advanced nations are not struggling with issues as it is the case in our country. It is high time we changed our orientation and embrace insurance policy,” she further said.
