March 2, 2018

Discussants at the on-going Social Media Week (SMW) in Lagos on Friday urged the insurance firms to leverage on technology to meet their clients’ rising expectations.
The discussants spoke on the topic: “How Technology can Change the Insurance Industry’’ at the final day of the sixth edition of the Social Media Week which began on Monday.

One of the discussants, Moses Dickson, said that technological innovation had the potential to change any industry for the better.
“The insurance industry currently has much opportunity for growth and by leveraging on technology and social media, it can increase awareness.
“The only way for the industry to get the attention of the youth market is to leverage on tools like mobile apps and web applications that enhance customer experience,’’ said Dickson of TRIAX Solicitors.
Also speaking, CEO of Disrupt, David Idagu, said that insurance companies needed to go beyond creating digital tools and focus on communication narratives that would educate, engage and influence the attitudes of Nigerians towards insurance.
“One of the key problems of the Nigerian insurance industry is the lack of trust in the industry, especially in the area of claims recovery,’’ Idagu said.
According to him, only value-adding communication through strategic content marketing can help insurance firms to achieve their goal of reaching out to the youth market.
Similarly, Seye Olurotimi of Cedar Tribe said that most insurance companies in Nigeria had invested in technology and social media but they needed to do more.
“Telling people to buy insurance is not enough, you have to also tell them why they need it and then make it easy for them to access your services,” he said.
NAN reports that thousands gather each year for SMW Lagos to be inspired by over 300 world class thought leaders, innovators, business practitioners and pop culture luminaries from Nigeria, across the world.