Ogun E-Third Party Insurance to eliminate fake insurance certificate, enforce compulsory insurance – Abiodun

The Ogun State governor, Dapo Abiodun has disclosed that the recently unveiled online platform for third party insurance, the E-Third Party Insurance to allow people in the state to easily buy genuine third-party insurance and also eliminate fake insurance certificate.

He equally said the platform is one of the steps of his administration to enforce compulsory insurance in the state.

Abiodun gave this closure during the 31st Chartered Insurance Institute of Nigeria Professional Forum with the theme, ‘The Nigerian Insurance Industry in the Digital Age’, held in Abeokuta, on Thursday.

While noting that the platform would be open to all interested insurance companies operating in the state, he added that there would also be opportunities for insurance partnership in other areas of the state.

“Our administration just last week unveiled an online platform for third party insurance in Ogun State called the E-Third Party insurance.

“This platform is one of our steps to enforce compulsory insurance in Ogun State; this should create value for all stakeholders for us to allow our people to easily buy genuine third-party insurance, eliminate fake insurance certificate, ensure accountability and hopefully prompt payment of claims.

“It is open to all interested insurance companies operating in Ogun State, there are also opportunities for insurance partnership in all our other programmes of infrastructural development, social welfare and well-being, education, youth development and employment generation, agriculture and the entire value chain,” Abiodun said.

The governor, who added that his administration has commenced the implementation of its universal health insurance scheme, disclosed that the scheme would be beneficial to the informal sector of the state as it would help to reduce out-of-pocket expenditure as well as increase their access to quality health care, regardless of their socio-economic status.

He urged the insurance professionals to embark on awareness and public enlightenment programs on the benefit of insurance to the people.

He noted that the CIIN must also take steps to earn the trust of the people through ethical conduct of insurance practitioners, prompt payment of claims and stamping out of quackery in the profession.

Abiodun further said that the insurance industry should also come up with new products and services that would meet the ever-evolving pattern of the digital artificial intelligence-driven economy, charging it come up with new means to meet the new challenges of the digital age as many businesses are now being transacted online.

The governor, however, assured that his administration would continue to remain open to all genuine collaborations from individuals and corporate organizations towards the successful implementation of the ‘Building the Future Together’ Agenda of his administration.

The Alake and Paramount Ruler of Egbaland, Oba Adedotun Gbadebo who commended the Institute for bringing the forum to the state capital, disclosed that the worth of insurance is highly commendable.

Earlier in his remarks, the President/Chairman in Council of the Chartered Insurance Institute of Nigeria (CIIN), Mufutau Oyegunle, while noting that the digital era is around and that artificial intelligence has played a large role in its evolution, added that more organisations are embracing the idea of a single microchip processing multiple function.

Oyegunle explained that purpose of insurance was to enable risk taking, support economic growth, encourage innovation and ultimately enhance the resilience of the society and the economy, noting “insurance plays an important role in helping to address modern societies greatest challenges which include cyber risk, the effect of technology changes as societal changes is driven by demographic trends”.

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