Copyright tribuneonlineng
President of the Nigerian Council of Registered Insurance Brokers (NCRIB), Ekeoma Ezeibe has unveiled “One Insurance Industry” agenda to deepen penetration, foster collaboration, and rebuild public confidence in the sector, writes JOSEPH INOKOTONG. When Mrs. Ekeoma Ezeibe assumed office as the 22nd president of the Nigerian Council of Registered Insurance Brokers (NCRIB), she came with a clear message: the insurance sector must speak with one voice and act with a shared purpose. Her vision, encapsulated in the theme: “One Insurance Industry,” is not just a slogan, it is a call to action. At a press conference in Lagos, the newly elected president unveiled a comprehensive agenda designed to strengthen collaboration among market operators, regulators, and consumers, while restoring public trust in the insurance profession. For Ezeibe, unity is not a choice; it is the bridge to relevance in an economy seeking stability, inclusiveness, and resilience. “When we talk about one insurance industry, we have already realised that brokers, as intermediaries, play a vital role in connecting insurance to the people. It is our responsibility to go out there, educate consumers, and take advantage of the Nigerian Insurance Industry Reform Act (NIIRA) 2025 to expand coverage and access,” she said. A five-point agenda for a stronger industry At the heart of Ezeibe’s presidency lies a five-point agenda anchored on five key pillars: deepening insurance penetration and public awareness, completion of the Olola Olabode Ogunlana House project. Enhancing collaboration with the National Insurance Commission (NAICOM); capacity building and mentorship for brokers, and strategic partnerships with stakeholders across the insurance value chain. According to her, these pillars are interwoven, representing the structural foundation for sustainable growth. “Each component of this agenda complements the other. We cannot deepen insurance without strong partnerships; we cannot empower brokers without capacity-building; and we cannot grow the industry without unity of purpose,” she explained. The One Insurance Industry initiative seeks to dissolve institutional silos and rivalries that have often slowed the sector’s growth. The NCRIB president believes that an industry divided by competition and fragmentation cannot effectively serve the Nigerian people or attract meaningful investments. Deepening insurance penetration: From Abia to the North One of the most ambitious components of Ezeibe’s plan is a state-by-state penetration strategy, beginning with Abia State, which will serve as the pilot scheme for expanding insurance awareness and coverage. Abia, she said, was chosen not only because of its symbolic connection as her home state but also for its potential as a model of grassroots engagement. The initiative will focus on taking insurance to the uninsured and the uninformed, working closely with local government authorities, transport unions, small business owners, and traditional institutions. “We are working with the government of Abia State to ensure that insurance becomes part of everyday life for traders, artisans, and public sector workers. Once Abia is fully on boarded, our campaign train will move to other regions, particularly the northern states where insurance penetration remains relatively low,” she said. According to industry data, insurance penetration in Nigeria currently hovers around 0.5 percent of GDP, far below the African average of 3 percent and global benchmark of over 7 percent. For Ezeibe, this gap represents both a challenge and an opportunity. Her plan is to implement targeted awareness campaigns and leverage microinsurance to reach informal workers, commercial drivers, and small business owners. “Deepening insurance must be done strategically—one state at a time,” she emphasised. Bridging the gap between brokers and regulators Central to Ezeibe’s One Insurance Industry agenda is strengthening the Council’s relationship with the National Insurance Commission (NAICOM), the sector’s regulatory authority. The NCRIB president stressed that the future of insurance growth depends on synergy, not separation, between brokers and regulators. She noted that previous administrations of the Council established cordial ties with NAICOM, a legacy she intends not only to sustain but to expand through continuous engagement, policy dialogue, and collaboration on enforcement initiatives. “Regulation and intermediation are two sides of the same coin. Our industry cannot thrive without mutual understanding. We are determined to sustain our partnership with NAICOM under the framework of the NIIRA 2025 reforms to build a more responsive and inclusive market,” she said. The Nigerian Insurance Industry Reform Act (NIIRA) 2025, recently signed into law, is widely seen as a game-changer. It introduces stricter compliance standards, digital transformation mandates, and capital adequacy requirements designed to modernise insurance operations. For brokers, this provides a clearer regulatory pathway, but also demands greater professionalism, technological adoption, and accountability. Ezeibe believes brokers must lead the way. “As intermediaries, we are the first contact with consumers. If we demonstrate trust, knowledge, and innovation, the entire industry benefits,” she said. Building capacity and mentoring the next generation Recognizing that the industry’s future depends on human capital, the NCRIB president has made capacity building and mentorship one of her top priorities. Under her leadership, the Council plans to roll out structured mentorship programmes for young brokers, alongside professional development workshops tailored to small and medium-sized firms that often struggle with limited access to training. “Our goal is to empower brokers—big and small—to expand their businesses, enhance their service delivery, and contribute more significantly to the national economy,” she stated. The NCRIB, she added, will also intensify collaboration with academic institutions, professional bodies, and international insurance associations to broaden exposure for Nigerian brokers and align local practices with global standards. Ezeibe believes that mentorship is the bridge between aspiration and excellence. “The founding fathers of our Council laid strong foundations. We owe it to them to raise a new generation of ethical, competent, and technology-driven brokers,” she stressed. Social impact and public trust Beyond the boardroom, Ezeibe’s vision extends to social responsibility and community impact. She insists that the insurance industry must connect more deeply with the public through Corporate Social Responsibility (CSR) initiatives that address real social needs. “The insurance sector thrives when the society it serves is healthy and prosperous. Our CSR activities will focus on education, road safety, health awareness, and youth empowerment. We must make the people see that insurance is not just about claims—it’s about care,” she noted. Public trust, she observed, remains a major challenge for the sector. Many Nigerians still perceive insurance as inaccessible or unreliable. Rebuilding that confidence, according to her, will require transparency, prompt claims settlement, and effective consumer engagement. Ezeibe believes that brokers, as frontline representatives of the industry, are uniquely positioned to change this narrative. “We are the link between insurers and policyholders. If we earn the people’s trust, the whole industry wins,” she asserted. Sustaining growth and institutional legacy Part of her administration’s plan also includes completing the Olola Olabode Ogunlana House, an iconic NCRIB project initiated to serve as the Council’s permanent headquarters and a hub for industry events and training programmes. The project, she said, symbolizes the Council’s enduring legacy and commitment to institutional strength. “We will complete the Olabode Ogunlana House as a testament to our collective dedication. It will stand as a home for every broker—a place that embodies the unity we are championing,” she affirmed. She further pledged to promote transparency, inclusivity, and accountability in all Council activities, ensuring that decision-making reflects the shared interests of members and stakeholders. A Call for Collaboration In a sector often fragmented by rivalry and mistrust, Ezeibe’s One Insurance Industry message is both refreshing and pragmatic. She has called on all stakeholders—brokers, underwriters, loss adjusters, policyholders, media professionals, and regulators—to rally behind a common vision for growth. According to her, “The insurance industry can only thrive when all players work together with a common purpose. Our economy stands to benefit greatly from a vibrant and trusted insurance market.” Ezeibe’s leadership, marked by clarity of purpose and inclusiveness, is already drawing commendations from across the sector. Industry analysts describe her approach as one that blends policy continuity with innovation, ensuring that NCRIB remains a unifying voice for brokers while contributing meaningfully to national economic development. As Nigeria’s insurance sector positions itself for transformation under the NIIRA 2025 framework, Mrs. Ekeoma Ezeibe’s One Insurance Industry agenda may well prove to be the rallying point the industry has long awaited, an agenda built not just on policy, but on purpose, people, and partnership.
