If you decided to ask many people on the street about their thoughts on the insurance business especially in Nigeria and it is likely the response is not going to be great.
Whether they think the insurance Operators are out to rip-off publics, through hide details in small print or is just simply boring delaying claims, the general public’s perception or idea of insurance businesses and the reality behind the industry are two very separate things, according to expert.
The internet research disclosed about, Mr Mike Bartlett, commercial director of Sum Insured, has reported the challenge in perception that saw him attracted to the industry in the first place.
According to Bartlett, the thing that really annoyed my interest the most was the public perception of the insurance industry that stated [perception] was one of ‘the insurance industry is always trying to rip us off,’ ‘they are the bad guys and not to be trusted.’”
“When I got into the industry I realised it was exactly the opposite of the way things worked.
“Every time there is a negative story people’s perceptions are almost reinforced. It is only when they might have a claim and have a terrific experience with a claim that the light goes on.”
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Also the industry should herald or shout louder about its positive stories, especially its work in post-disaster areas, as a way to highlight their worth to society, Bartlett continued.
In addition, by working complex policy wordings into easier to understand terminology, consumers can begin to self-educate on the need for insurance and the power a policy brings.
By helping to improve the perception of insurance, Bartlett said that the talent shortage currently gripping the industry could be alleviated. Those on the outside will look at insurance in a more positive light and might be more inclined to pursue an insurance career.
According to the report Bartlett knows a thing or two about entering the industry. Prior to his time in the sector, Bartlett completed what he called two other careers before making his debut in the industry proper with Cordell Information in 2008, before moving to Sum Insured last year.
“I absolutely adore this industry and think it is a fabulous industry but my only regret is that I didn’t discover this industry right from the very start.”
For his part, Bartlett was able to talked his two eldest daughters into a career in insurance. When it comes to shifting perceptions of the misunderstood insurance industry, every little bit helps.
Since Insurance business cover all aspect of life. How many insurance operators have enough time to spread insurance message in their gathering space either social or religious.?