NSIA Insurance plans new strategies to increase market expansion

By Bankole Orimisan

An underwriting firm, NSIA Insurance Limited, has expressed commitment to diversifying insurance products to meet the needs of Nigerians.

Besides, the insurer also called on the public to appreciate the significance of insurance in reducing risks.

The Chief Executive Officer of the underwriter, Moruf Apampa, at a press briefing to announce his appointment at weekend, said there is a need to see information and communication technology (ICT) as a key driver of insurance growth.

Moruf said despite the slow insurance adoption, there was hope that penetration and premium payment would rise as the industry is beginning to do well.

He explained that the organisation remained committed to its vision and shared values, creating innovative ideas to move the company forward.

According to him, the company will continue to pay attention to excellent service delivery and the adoption of global best practices in its operation.

Speaking about the appointment of the new managing director, the Chairman of the Company, Dr. Adesegun Akin-Olugbade, said Moruf has broad experience within the insurance industry.

His insights according to him, include an in-depth understanding of the Insurance business value chain and a clear understanding of the cutting-edge technological requirements needed to transform the sector today for futuristic growth and value.

Moruf has been responsible for driving successful business operations, enhancing corporate productivity, and overall business delivery in management, executive, and board roles.

Until his recent appointment as the MD/CEO of NSIA Insurance, his exposure included his role as Executive Director (Technical and Business Development) for FBN Insurance Limited now Sanlami Insurance, and his turn-around assignment as Chief Executive Officer of Sunu Assurances Nigeria Plc, Nigeria; his organisational transformation journey with American International Insurance Plc (AIICO), amongst others.

He launched the first USSD in the Insurance Industry in Nigeria and attended executive leadership programs at Lagos Business school, Columbia University Business School, and Howard University School of Business.

He is a graduate of Insurance from Lagos State Polytechnic, he holds a Master of Business Administration (MBA) from the University of Ado-Ekiti and he is a Fellow of the Chartered Insurance Institute of Nigeria.

“We are pleased to have Moruf on board as our new Managing Director/CEO. We believe his experience will be very valuable to the company. We are confident that he will be a transformational force in developing and driving NSIA Insurance forward – in a very exciting but also challenging time.”