Underwriters compete for businesses from brokers

Underwriters in a bid to secure businesses, now jostle to host
Nigerian Council of Registered Insurance Brokers (NCRIB) monthly
Members’ Evening, a platform that attracts about 200 brokers.

According to statistics, brokers are said to control 80 per cent of
insurance business in the country. The President of the NCRIB, Shola
Tinubu, at the April edition of the members’ evening, hosted by
Sovereign Trust Insurance Plc, today, in Lagos, said underwriters now
jostle to host the event, adding that companies outside the insurance
industry are also willing to proudly identify with brokers by
sponsoring the event.

He called on brokers who are still maintaining a distance towards the
Council’s activities to have a change of heart, as the body can only
survive through constant bonding and exchange of ideas on a continual

“It is worthy to note that the Council’s bi-monthly Members’ Evening,
a platform for interaction between insurance brokers and leading
underwriters in the market, has remained an event that Underwriters
now jostle to host.

“Even companies outside our industry are willing to proudly identify
with us by sponsoring this Evening. It therefore behaves us to
complement the evening with our continuous attendance as this would
help its sustenance,” he said.

He noted that members attendance at the event will counts towards
their Mandatory Continuous Professional Development (MCPD) grading
points. Tinubu noted that the Council has continued to strengthening
its ties with other relevant international bodies, stressing that one
of such is the British Insurance Brokers Association (BIBA). He stated
that this has informed the body’s regular attendance of BIBA

“I like to inform you that a good number of Council members will be
attending the 2018 Conference of the Association, holding in
Manchester, the United Kingdom from Tuesday, May 14 to Friday, May 19,

‘‘The theme of the Conference is ‘Innovate, Evolve, and Thrive.’
Happily, the NCRIB delegation would also have the benefit of
interacting with a team of professionals from Aon and Lloyds Brokers
who have consented to meet with the Nigerian delegation at a special
session in London.

“As part of our efforts to encourage participants, the Management
Committee met to grant a discount of £200 to the first ten registered
delegates. I like to inform you that if you have a valid UK Visa, you
can still be a part of the delegation,” he posited.

The Managing Director, Sovereign Trust Insurance Plc., Olaotan
Soyinka, who led the management team of the firm to the event,
applauded brokers for their roles in developing the insurance market.

He appealed to brokers to sustain the relationship they built with his
company over the years, whilst pledging the firm’s resolve to surpass
brokers expectations.

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