Chams urges insurers to embrace IT to grow business

By Kokumo Goodie, Lagos, Nigeria 

Indigenous identity management firm Chams Plc, has urged Chief Executive Officers of risk-bearing companies struggling to make appreciable inroads into the rural communities of Nigeria to look in the direction of deploying IT tools.

Founding Managing Director, Chams Plc, Sir Demola Aladekomo, said insurers should explore the tools of  IT to deepen penetration, optimise the huge potential of the sector and give good returns to their shareholders.

Aladekomo said with IT tools, insurance would be seen, felt and sold like commodity which it actually is.

The Chams chief who spoke in his capacity as guest speaker in Abuja during Insurance Industry 2015 Mega Conference, also identified ways through which the risk-bearing companies can effectively leverage on IT tools to promote products and services in the market considering the massive adoption of technology tools in the country.

Managing Director, Chams Access Limited, Funke Alomo-Oluwa, who stood in for Aladekomo at the event delivered a paper titled “Information Technology as a Strategy for Market Penetration and Expansion” in which Aladekomo urged insurance companies to develop vibrant digital marketing strategies and become more visible on social media platforms by interacting with their followers and the entire online community to sensitise them on the need to pick up an insurance plan.

He said: “There is a need for insurance companies and its professional bodies to leverage this (IT) platform by partnering with relevant companies and agencies in the technology sector to create and provide specialised services which would help update their internal and external operations.”

With the swift accessibility of information and automation of business processes made possible by technology, Aladekomo urged insurance companies to take advantage of IT tools such as mobile phones, automated teller machines (ATMs), Point of Sale Terminal (PoS), online retail websites and kiosks to offer real-time services and products to members of the public for market penetration to expand their businesses to new frontiers.

Aladekomo, who is former president, Nigeria Computer Society (NCS) and Chair, Smart City Resort Plc, said insurance companies could maximise the use of IT in building an efficient data base, conducting data analytics and recovery of lost items via systematic tracking.

Smart City Resort Plc is the holdng company for the SmartCity Innovation Hub. The SmartCity Innovaton Hub is an A-grade technology development infrastructure promoted by the NCS, Association of Telecommunications Companies of Nigeria (ATCON), National Information Technology Development Agency (NITDA), and the Federal Ministry of Communications Technology.

The project is a bold move to bring together technology, government and society in ways that promote the culture of innovation and the competitiveness between allied businesses and knowledge-based institutions.

Share this News
Share |
Subscribe to our Daily Newsletter here