Insurance policy awareness has increased in Kwara – Expert

By Mike Adeyemi

The level of awareness and enlightenment on insurance policies in Kwara State has heightened in recent time.

This was a submission by an Ilorin-based insurance expert, Mrs Judo Ifeoma during a chat with Pilot Business yesterday, in her office.

Ifeoma who is the Marketing Manager of Sovereign Trust Insurance noted that the level of awareness and compliance of Kwara residents to insurance policy has improved in comparison to what was obtained in years back.

“Presently, there is a paradigm shift in the rate at which Kwara residents embrace and insure their property against risks. Statistics has so far shown that people are beginning to understand the value and importance of insurance policies now in Kwara, unlike what it used to be some years ago.

“People are now on the daily basis in Kwara State being acquitted with the need to insure their property against risks as manifested in the high rate of applicants,” she explained.

Judo, however, lamented that artisans, market men and women in the state are yet to embrace the scheme despite series of advocacy and enlightenment campaigns.

“Each time we embark on awareness and sensitisation campaigns to market squares and Local Government secretariats in the state, what we notice is nonchalance of the people owing to the cultural belief.

 She noted that despite introduction of some insurance policies like ‘Goods-in-transits’ meant to get traders compensated when losses occur on their perishable goods, the application is still very low.

“Insurance scheme provides financial support and reduce uncertainties in business and human life. It provides safety and security against particular event. Insurance provides a cover against any sudden loss,” she further said.

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