Clarion Call!!! Dr Ngozi Okonjo-Iweala's reasons why the Insurance Industry seem not to be growing.

Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, speaking at the opening of the National Insurance Summit 2014, in Abuja, yesterday highlighted some factors impeding the growth of the Insurance Industry in Nigeria. Below are the factors;

• Lack of Consumer trust
• Fragmented industry with some weak and insolvent players
• Low enforcement of compulsory insurance policies
• Lack of professionalism by some brokers and agents in the industry; and
• General shortage of skilled professionals in the entire industry

I personally feel this is coming directly from the Presidency and should be taken serious by all stakeholders of the Nigerian Insurance Industry. #Selah