Nigerian Insurance Company, Coronation Insurance has assured small and medium enterprises of its support in helping them to overcome challenges they face in their daily business operations.
Stakeholders spoke during a webinar co-hosted by Coronation Insurance Plc and Coronation Life Assurance Ltd with the theme, ‘Importance of insurance for SMEs; Insurance requirement for a growing business’.
During the webinar, financial experts provided insights into how insurance could support SMEs during the webinar, which was attended by participants from the insurance industry and Coronation’s small business clients. They also discussed various products that Coronation Insurance provides for SMEs.
The Chief Executive Officer, Coronation Life Assurance Limited, Mr Akinlolu Akinyele, while speaking, said, “We do sincerely hope that the webinar has been very impactful and will help you on planning for the remainder of the coming year 2023. We indeed trust that the insights that were brought to bear today by the speakers and everyone will help all of us and you all in navigating the uncertainties that we face as we run our various businesses.”
He noted that the sessions at the webinar comprised topics on stimulated conversations around the role insurance played in supporting the SMEs and how it could help a developing Nigerian economy.
The Chief Executive Officer, Coronation Insurance Plc, Mr Olamide Olajolo, assured of the company’s continued support for the SMEs.
He noted that Nigeria had lost two million SMEs to the COVID-19 pandemic, and that most new SMEs struggled to achieve scale quickly enough to realise the opportunities for which they were created.
Other panellists were Executive Director, Technical, Coronation Life Assurance Ltd, Adebowale Adesona; Country Manager, Wordplay, Louis Alozie; and Head of Emerging Business, Africa Access Bank Plc, Ayo Olojede, while CNBC’s West Africa Markets Editor, Wole Famurewa, moderated the webinar.
Olojede stated that Access Bank and Coronation were working together to develop products that would cater to the needs of SMEs and increase the use of insurance.
Alozie stated that it was crucial to partner with companies and create products that were easy for customers to understand.
Adesona discussed the importance of Coronation’s group life insurance coverage for employees.