Insurance Brokerage Critical To Nigerian Economy – Leadway Assurance Boss


Insurance brokerage practitioners are critical stakeholders to the Nigerian economy, the Managing Director, Leadway Assurance Limited, Tunde Hassan-Odukale, has said.

He said this when Leadway Assurance Limited played host to brokers at the August Edition of Nigerian Council of Registered Insurance Brokers (NCRIB) Members’ Evening in Lagos, adding that brokers have been the enablers in expanding insurance footprint in Nigeria.

“Your effort in placing local and international insurance businesses with insurance companies and skillfully representing the interest of the insurer and insured has been pivotal and as insurers, we thrive on this,” he posited.

The Leadway Assurance boss, who was represented by the firm’s Executive Head of Sale, Sola Ajayi, noted that brokers contribution to the firm’s business is critical to its success and has helped to keep the firm going.

“We can attest to the fact that brokers contribute a major stake to most of the businesses that come from our insurance arm of our business. We value the relationship with you as you have contributed immensely to our success over the years, we look forward to achieving more together,” he submitted.

He noted that as part of the company’s efforts to remain an agile organisation in order to meet brokers ever-changing and dynamic needs, it has repositioned its business along client-facing lines than divisional insurance business lines, adding that this is to ensure that it has focal points on all its suite of products and services on a composite insurance /group services basis.

He maintained that the firm is not oblivious of the challenges that are emerging and some that have always existed, stating that irrespective of these challenges the firm will continue to find ways around them.

“We will take learnings along the way, be agile and will not let go of our resilience. We don’t grow when things are easy, it induces complacency but challenges create room for improvements and for growth.

“The best way to overcome these challenges would require collaborative effort, a growth mindset and continuous improvements. It is important that we do not forget that innovation, knowledge gathering and continuous adoption of technology as it advances, is essential to our future,” he said.

He said among other initiatives currently being implemented to improve on its customer experience, the firm has also put in place a technologically driven broker management solution called the Brokers Portal which was essentially conceived to simplify the process flow of transaction between the firm and brokers ensuring business can be done in real time and providing more value to brokers.

He posited that the industry is a remarkable one, marked with resilience and growth against all odds, adding that it presents innumerable opportunities for improving the economy, stressing that the firm anticipates more growth and successes in the industry and that this remains the firm’s collective responsibility to be ensured

“Collaboration as we know divides the task and multiplies the successes so this evening we celebrate our wins and then look forward to more successes because now more than ever, your role and contribution is even more reinforced,” he said.

Tunde noted that the firm is pleased to host the gathering, adding that it looks forward to doing more together with brokers.

President of NCRIB, Rotimi Edu, appreciated the management of Leadway Assurance for hosting the event, adding that it was auspicious for him to congratulate the firm’s boss Tunde Hassan-Odukale and his team for the support.

He implored brokers to place their clients’ insurance needs with the company, as it has remained faithful in meeting all its obligations without hassle.

Many prominent brokers at the event, endorsed Leadway Assurance, imploring their colleagues who are yet to patronise the firm, to take their businesses to the firm, adding that it has remained one of the beacons of the underwriting practice.

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