Digital Marketing: Indigenous Insurers Experience Mass Product Patronage by Nigerians in Diaspora – THISDAY Newspapers

Ebere Nwoji
Nigerians in diaspora are taking advantage of on going digitalisation of insurance marketing to secure insurance cover for their properties in Nigeria from indigenous insurers, THISDAY checks has revealed.
Insurance managers who launched digital products in recent times told THISDAY that they were surprised to see that the products they are currently marketing digitally are mainly patronised by Nigerians abroad than those resident in the country.
The insurers also said they have devised the strategy of partnering some online supermarkets to sell insurance products.
Managing Director, Afriglobal Insurance Brokers, Mr Azubuike Casmir, told THISDAY in an interview that the experience he has with the new digital marketing application his company launched recently- the Africover 247 is that among the target markets, those that have shown much interest are Nigerians outside the country.
“Those of them that have assets here and have been thinking about how they could have their assets here insured are the people we see patronising the product. Some have vehicles here that they left they are not using them. Some have landed properties that are not insured probably they felt it was going to be difficult for them to be doing insurance all the way from there but now for the first time, it is easy for them to just pick their phones and buy insurance for any of their properties anywhere in Nigeria.”
He said with the kind of interest developed on the digitalised products by Nigerians in diaspora, the acceptability of his company’s product was very wide.
“Quite many people have successfully downloaded and are using the application. Many also have fully used it to buy insurance but like I said we are still upgrading. What we have also done is to partner with some well known online markets, yes that is the right way to go let me give you an example CONGA. CONGA is like an online supermarket where you go to and you buy any product.
It means when you go to CONGA you also buy insurance and when they say CONGA insurance and click, what you get there is Africover 247, that will give you the link to buy any insurance product you want, “he explained.
He however said businesses investing in technology should note the fact that investment in technology is not a one off thing but a type of investment that requires patience.
“The truth is that if you invest in any technology and you think that in the next six months or one year you recover your investment, you are making a mistake. It trickles in, then builds momentum and overtime you begin to see the effects. So we are very happy that the app is receiving the desired acceptability that is actually spurring us further to upgrade it further higher than we launched it”, he said.
He also debunked the fears that the advent of digital marketing will render insurance brokers irrelevant saying not all insurance products can be sold digitally.
“I don’t think that is true.Anyway, some brokers that are not alive to the realities of the day will be gearing up to go out of the market. But let me put it to you that it is not all insurance products that you can sell digitally. You and I know about some insurance like engineering insurance that requires a lot of expertise say insurance of vessels and others like that, “he stated.
According to him, for this category of insurance, you really need to be there physically to see what it requires.
He said this being the case, it is not all classes of insurance that can be sold digitally adding that you can do digital insurance mainly in retail market not in all insurances.
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