With the incessant increase in the number of online agents ready to offer services such as; insurance, and so on, the President, Association of Registered Insurance Agents of Nigeria(ARIAN), Mr. Gbadebo Olameru, has warned his colleagues to embrace new business strategies or lose their jobs.
Olameru, who was speaking at the 7th Annual Conference and Award Ceremony in Lagos, noted that the era of traveling from one place to the other to close insurance business deals is fast fading away, as most multi-billion naira deals are now being sealed on iInternet and social networks.
This, he said, means some agents might be out of jobs sooner than later, if insurance agents refused to accept this change.
According to him, “The dynamics of our business climate is gradually changing where everything that matters is in the cloud, the internet and social media campaign are gradually building multi-billion naira organisations with their skyscraper head office solely built in the cloud without any physical office.”
He cited an example of an Insurance Agent, Omolola Omogoye, who brought a whooping N70 million insurance premium in one transaction, a transaction that was closed through Facebook platform from someone she has never met. “I can imagine how many bus stops she has to pass through to meet this man if Facebook was a street in Lagos,” he added.
Stating that the business is changing, he stressed that if agents want to maintain their relevance in the insurance industry, they must research more, increase their appetite for knowledge by becoming a professional in the industry and a taste of great ambition.
He urged insurance agents to be the only reliable and relevant stakeholder to move the industry to its next level because retail business is the only access that can grow the industry.
The director, Insight and Customer Strategy, Oracle Corporation, Mrs. Genevieve Mbama, said the era of face to face marketing, moving from one office to the other in search for business, is gone, as internet is gradually taking over that job.
“While will you be walking round the streets of Lagos, under a scotching sun to look for customers that are in their offices. There are millions of people already on social media that are using Internet-enabled gadgets and needs your service,” she said.
She urged insurance agents to increase insurance awareness, build trust, ensure they are visible to the people as well as change the negative perception of the people about insurance, through delivery of quality service to insurance consumers.
On his part, Founder & Lead Strategist, Hexavia, Mr. Eizu Uwaoma said: “ The world is changing and this change means internet and social media are going to be taking over some jobs. You have to restrategise your business model to stay afloat of the change that will be coming in the next five to 10 years.”
He was unhappy that insurance industry in the country is still focusing majorly on Oil and Gas sector for business, when the world is gradually moving away from oil, noting that retail market is the future of insurance business.