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ONADELE ADVISES INSURERS ON PENETRATION STRATEGIES

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A risk management expert and managing partner of BPMSE Consulting, a risk and management consultancy firm, Mr. Cash Onadele, has charged underwriters in the country to adopt appropriate strategies to deepen insurance awareness and penetration in Nigeria.

Mr. Onadele said this while making a presentation on the topic: ‘Retail – The next frontier of insurance’.

According to him, the major market makers in the industry are the underwriters and that their decisions and actions would determine the density of the industry.

He said “they form majority of the market. May be if they can see what we need and act upon it, we may just successfully create the level of penetration we desire. After all, it is in the interest of the entire nation that insurance penetration grows by quantum leaps,” he added.

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