From right: Managing Director/Chief Executive Officer of Unitrust Insurance Company Limited, Adedayo Arowojolu, receiving appreciation award plague from Dr Julius Odede, Head of Lagos Operations at National Insurance Commission,( NAICOM), at the just concluded 2026 BusinessToday Annual Conference and Exhibition on Insurance and Pensions held in Lagos , with the Convener of the conference, Mrs. Nkechi Naeche-Esezobor.
BY NKECHI NAECHE-ESEZOBOR —-The Managing Director/Chief Executive Officer of Unitrust Insurance Company Limited, Adedayo Arowojolu, has called for increased youth participation in Nigeria’s insurance industry, emphasizing the need to reposition the sector to align with the expectations of a younger generation.
Arowojolu made this known while speaking as a panelist at the 2026 BusinessToday Annual Conference and Exhibition on Insurance and Pensions held in Lagos, themed “Youth Advantage: Redefining Insurance and Pensions for a New Era.”
According to him, the insurance industry must deliberately attract young people, noting that many youths do not naturally consider insurance as a preferred career path.
“If we take a poll among students today on their preferred industries, insurance will likely rank low, behind sectors like oil and gas, fintech, and banking,” he said.
He admitted that his own entry into the industry was accidental, but described the sector as one filled with opportunities and long-term value.
“I found myself in insurance by chance, but since joining, I have discovered what I would have missed if I had not worked in the industry,” he added.
Arowojolu explained that insurance, by its nature, offers future value, which may not immediately appeal to a generation that prioritizes instant rewards. However, he stressed that changing economic realities now allow young people to earn and build wealth earlier, making financial protection more relevant than ever.
“Many young people today are earning income—even as students—through digital platforms and content creation. The question is: what do you do with that income? Insurance helps secure that value and protect the future against unforeseen risks,” he said.
He further highlighted ongoing efforts within the industry to drive transformation, including a 10-year Nigerian Insurance Industry Transformation Framework focused on growth and human capital development, particularly among youth.
Addressing strategies to engage young people, Arowojolu identified two key approaches: converting them into customers and attracting them as professionals.
On customer engagement, he emphasized the need for increased advocacy, product innovation, and youth involvement in product development.
“We cannot continue to sell the same products and expect different results. Young people should be part of designing products that meet their needs,” he noted.
He also underscored the importance of rebuilding trust in the industry, particularly through prompt claims settlement. He commended regulatory efforts to ensure accountability, noting that insurance companies are now required to regularly justify outstanding claims or face penalties.
In addition, he stressed the importance of leveraging technology, including fintech and insurtech platforms, to make insurance products more accessible and engaging for younger audiences.
“Everyone uses a mobile phone today. Insurance products must be integrated into these platforms to remain relevant,” he said.
On attracting youth as professionals, Arowojolu noted that insurance companies are increasingly improving remuneration and workplace culture to compete with other industries.
He revealed that Unitrust Insurance has, in recent years, deliberately recruited young talent to inject fresh ideas and innovation into the organization.
However, he emphasized that recruitment alone is not enough.
“The key challenge is retention. Organizations must create environments that resonate with young people,” he said.
He highlighted initiatives such as flexible work arrangements, hybrid work models, and support for professional development as critical factors in attracting and retaining young talent.
“For instance, we operate a hybrid system with three days of physical presence weekly, allowing employees time for personal pursuits while maintaining productivity,” he explained.
Arowojolu concluded by encouraging young people to consider insurance both as a means of financial security and as a viable, rewarding career path.
