Mrs Ebelechukwu Nwachuwu
It has become imperative for Nigerians to imbibe insurance as a lifestyle and not as a regulatory necessity, the Vice Chairman, Sub-Committee on Publicity and Communications, Insurers Committee, Mrs Ebelechukwu Nwachukwu has said.
Mrs Nwachukwu who spoke with journalists in Lagos said this narrative necessitated the rebranding of the country’s insurance industry.
She stated that the Insurer’s Committee, comprising of CEOs of all insurance companies in the country engaged Alder Consulting, Nigeria’s leading creative intelligence firm began a brand marketing programme in 2018 to rebrand the industry and make it better understood by Nigerians.
She disclosed that the initiative was born out of the need to redefine the narrative about insurance and to educate Nigerians on its importance.
She said: “The campaign was also designed to change the perception of the sector and increase the market penetration on insurance in Nigeria. Considering that less than 1 per cent of the Nigerian adult population was insured. About 80 per cent of those insured are 35 and above. Millennials below 35 years who form over 70 per cent of Nigeria’s population, or about 138.6 million, form a large part of the uninsured.”
“In line with the foregoing, the project was designed to showcase the advancements made in the insurance sector and to encourage more Nigerians to take up insurance. It would also highlight real customer testimonials of insurance. At the end of the day, insurance would be positioned as desirable and not just a regulatory necessity.”
Managing Partner, Alder Consulting, Mr. Leke Alder on his part explained that the campaign will span an initial period of 3 years, in 3 months respectively.
He added that instead of pushing a message of fear and tragedy, the campaign focuses on the fulfillment of hopes and dreams, when insurance serves as a safety net in life. Hence, the phrase “Live with Freedom” was adopted as the theme for the campaign.
“Insurance users can live life to the fullest because they are confident that no matter what happens, they are insured. To ensure that the campaign was continuous and sustainable, a dedicated website (www.insuranceandyou.ng) was developed. Social media pages – @insuranceandyou (Facebook, Instagram, and Twitter) – were also set-up to ensure that the campaign drilled down to the retail market space.
“According to a poll of 1,500 individuals in Lagos, Abuja, Enugu, Port Harcourt, Kaduna, Asaba and Ibadan conducted by Brand Sampling International, “since the beginning of the project, 66% of those who have heard the campaign are changing their perception of insurance”.
He further said that during the first phase, key milestones included using a new narrative to begin repositioning insurance; educating Nigerians on the importance of insurance; communicating innovative advancements in the insurance industry; showcasing testimonials from satisfied customers; and highlighting compulsory insurance categories required by the Federal Government.
“Materials were deployed across print, radio and social media. A brand activation event also held at the Ikeja City Mall in Lagos. 1,415 radio jingles were aired and 28 radio interviews were conducted. 121 videos, graphics and blog posts were posted across digital media platforms reaching a combined 8.8 million people”, he noted.