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Ebere Nwoji

Still in  earnest  search for ways of deepening insurance penetration and spreading  awareness, the immediate past Executive Secretary African Insurance Organisation(AIO), Ms Prisca Soares, has called for establishment of innovative platforms that will drive insurance to the awareness of all Nigerians.

Soares who stated this at a press briefing to announce the opening of nominations portal for this year’s edition of the annual Almond Insurance industry Awards  highlighted the importance of the Annual Almond Insurance  Award and its contributions to the industry adding that there was need for more of such initiatives.

Soares observed that there was significant gap between awareness and actual insurance penetration especially when measured against the country’s vast population.

She said with the nominations portal opened the Almond Insurance Industry Awards was one of the platforms created to drive insurance education and awareness in Nigeria.

 She expressed a strong belief in the power of the awards to shine a positive light on the industry, given the feedback and participation from previous editions.

She said to  ensure that the Almond Insurance Industry Awards meet international standards of similar awards in other jurisdictions,  some categories of the awards were dropped and new ones introduced to engender inclusivity across the entire spectrum, emphasising that the 2025 edition would continue to reinforce these standards.

She said that after the nominations were received on the awards website, the panel of judges would  review, shortlist, and oversee a transparent voting process that would  lead to the announcement of winners.

Earlier in her welcome address, Chief Executive Officer of Almond Productions Limited,  Ms. Faith Ughwode, said that Almond Insurance Industry Awards celebrated the “Can Do Spirit” of the men and women across the Nigerian insurance industry who continually break barriers to promote insurance, despite prevailing economic and social challenges.

“While insurance penetration remained  relatively low, practitioners continue to make impressive gains. According to the Nigerian Insurance Industry Report by NAICOM, the industry recorded a Gross Premium Income of over N1.2 trillion as at the end of 2024, a major milestone reflecting resilience and strategic innovation within the sector.

“The 2025 awards is in line with the industry’s  renewed focus of raising insurance awareness through focus on enforcement of the compulsory insurances and the regulators’ collaborative efforts with other relevant agencies of government to increase insurance uptake nationwide.”