“Awareness vs. Action: Will Insurance Week 2025 Make a Difference?”

 The 2025 Insurance Week Awareness Campaign wrapped up last week with significant media buzz and a bold objective: to change the narrative around insurance in Nigeria and boost national coverage rates that have long lagged behind global averages.

Organised by the National Insurance Commission (NAICOM) in collaboration with industry stakeholders, the campaign was themed “Insurance for All: Trust, Protection, and Prosperity.” It aimed to tackle a persistent issue,  Nigeria’s alarmingly low insurance penetration rate, which still sits below 1% of GDP, far behind other African markets such as South Africa (14%) and Kenya (2.9%).

Engaging the Underserved

Over the course of the week, events spanned urban and rural areas, targeting market traders, transport workers, students, small business owners, and the digitally savvy youth. From open-air activations in Lagos markets to school outreaches and community radio shows in northern Nigeria, the campaign was one of the most extensive public engagements in the industry’s history.

At the Lagos Market Storm event, hundreds of traders received information about affordable microinsurance policies designed to cover fire, theft, and medical emergencies. Meanwhile, insure-tech firms showcased mobile applications that allow users to buy and manage policies with a few clicks.

A highlight of the week was the National Dialogue on Insurance Penetration, where regulators and operators addressed structural barriers to adoption. Speaking at the forum, NAICOM Commissioner for Insurance, Dr. Olusegun Ayo Omosehin, said:

“This campaign was not just about spreading awareness, it was about transforming public perception and making insurance relatable to the everyday Nigerian.”

Early Signs of Impact

While the full results of the campaign are yet to be measured, some insurers reported an uptick in customer inquiries immediately following the outreach. One major underwriter noted a 17% rise in microinsurance-related engagements, particularly among informal sector workers.

Similarly, insure-tech startups participating in the Youth & Tech Day event claimed increased traffic and app downloads. According to developers, this surge reflects a growing appetite for digital-first insurance solutions, especially among millennials and Gen Z users.

Challenges Still Loom

Despite the momentum, industry analysts caution that awareness alone won’t be enough. Key obstacles, including income constraints, religious and cultural skepticism, poor claims experiences, and regulatory enforcement gaps, continue to hinder broader insurance adoption.

“To translate awareness into real penetration, we need more than messaging,” said an insurance analyst based in Abuja. “The industry must deliver faster claims, build trust, and design truly inclusive products.”

There are also calls for government collaboration in embedding insurance within social protection frameworks and enforcing compulsory policies in sectors like construction, transportation, and public buildings.

What’s Next?

The 2025 campaign may not provide instant results, but stakeholders agree it was a critical first step. It signalled a shift in strategy, from traditional corporate marketing to grassroots and tech-enabled outreach aimed at reaching the heart of the uninsured population.

If industry players can maintain the momentum and follow through with reform and innovation, Nigeria’s insurance penetration could inch closer to the 3–5% range over the next few years.

For now, the Insurance Week campaign has succeeded in one key area: putting insurance back on the national conversation table.

Stay informed, stay ahead with The Ameh News