Some insurance stakeholders in Anambra State have described the process of claiming insurance benefits from companies after disasters as “cumbersome”.
The stakeholders made the remarks in separate interviews while reacting to a News Agency of Nigeria (NAN) survey on why Nigerians shun insurance policy. They noted that the difficulties associated with insurance company policies are the major reasons many Nigerians lost confidence in them.
A resident, Mr. Samuel Chijioke, lamented the processes and documentation the insurance companies make their enrollees pass through in the event of a disaster, such as vehicle accident or fire, describing it as worrisome and discouraging.
According to him, the insurance policies in Nigeria are cumbersome when one needs to be compensated.
“The requirement process is crazy, as they will continue to play delay tactics, frustrate you and make one lose interest in claiming benefits in the process. They will want to frustrate you so that you can leave your benefits with them,” he said.
A businessman, Mr. Emeka Okeke, said Nigerians are not benefiting from insurance policies because many people do not know about them.
insurance policies in Nigeria are cumbersome when one needs to be compensated
“Many Nigerians lack knowledge about their activities, they don’t even know that insurance policies exist in Nigeria; they need to step up awareness campaign.
“Nigerians need to be convinced and see those befallen by disaster benefit from them. Only then will it make many to want to register with them,” he said.
Awka resident and a journalist with The Leadership Newspaper, Mr. Okechukwu Obeta, said that he did not take insurance policy because he holds no trust in the implementation processes.
He said that desired transparency is not seen in the processes as obtained in western world; adding that the country is not mature yet for such venture due to massive corruption across the nation.
“I will not, for now, patronise the process because I view it as a way of encouraging mediocrity,” Obeta concluded.
A trader and resident in Awka, Mr. Christian Beluchukwu, said insurance policy is strange to the average person, and that it requires serious advocacy before majority of the people could key into the offer.
Beluchukwu said he views insurance as a business done by people who lack gainful employment and expressed fear of abscondment or stories of woes when the time comes to redeem the policy.
insurance policy is strange to the average person, and it requires serious advocacy before majority of the people can key into the offer
A rice farmer, Mr. Ekene Ukoh, says he does not need any insurance policy for his agric business.
“I do not believe I need insurance policy. If I have such money, I will invest it in my rice farm,” he said.
Programme Manager, Agricultural Development Programme (ADP), Anambra State, Mr. Jude Nwankwo, told NAN that the Nigerian Agricultural Insurance Cooperation (NAIC) in the state has enlightened farmers on insurance policy documentation and claims settlement procedure.
Nwankwo said that some cooperative farmers in the state keyed into the insurance policy to avoid losses and protect farm produce.
“We continue to encourage farmers in the state to insure their crops against disasters like fire outbreak, lightning, windstorm, flood, droughts, pest and other diseases that attack crops,” he said.
In his views, Mr. Tope Daramola, Executive Secretary, Nigerian Council of Registered Insurance Brokers (NCRIB). told NAN that many Nigerians shy away from taking insurance policy due to ignorance, religious beliefs, poverty and economic recession.
Daramola said, “The fact is, when you do not know about something, you are also ignorant of the benefits embedded in it.
it is the same people who brought religion to us that also brought insurance
“Also, many Nigerians believe that it is only God that protects and they hold on to the ‘God forbid and it cannot happen to me syndrome,’ whereas it is the same people who brought religion to us that also brought insurance.
“Then poverty and economic hardship is a factor why insurance is not in the budget of many Nigerians. They tell you they have not eaten and you are asking them to get insurance. These are the issues,” he said.
Daramola said insurance is important, describing it as the last hope of the common man in advanced countries, where it is all about insurance from cradle to growth.
He said that insurance covers every aspect of human risks one could think of so that “affliction would not arise a second time”.
“Coming to Nigeria, many people do not understand that the world is full of risks and life also happens either negatively or positively, regardless of your religious beliefs.
“And when life happens, you need insurance for succour and to cushion the challenges faced either in the event of death, destruction of property due to accident, fire or flood disaster.
insurance covers every aspect of human risks one could think of, so that affliction would not arise a second time
“We have insurance brokers operating all over the country, including Anambra and they help to breakdown the concepts of insurance and its benefits in the language every Nigerian will understand.
“On our part we will continue to intensify public sensitisation to make Nigerians aware of insurance and its many benefits,” he added. (NAN)
