About 40 persons responded to the questionnaire and a whopping 90% of this number believed insurance was for the elites sighting that they understood better the intricacies and because they have the influence and know people that would make their claim settlement process less stressful. My question is, does everything have to be about who you know in this country? One said, “a man on the street who does menial jobs to earn his living could care less about any form of insurance because he wants to see instant benefits of his pay. An average man would prefer his salary is complete instead of having deductions for premiums.” This leaves me wondering, what are insurance companies ready to do to convince the layman in Nigeria that insurance is important?

The good thing is that about 60% of my participants have or have had insurance and another good point is they acknowledge the fact that claim settlements may take a long process but insurance companies still come through.

RIFAN has the vision to instill confidence in the hearts of the public in buying insurance products in Nigeria. I’m hopeful that in the nearest future, this would be an actualized dream in Nigeria.

Stay tuned tomorrow for more. Happy holidays!