The Managing Director/Chief Executive Officer of FBNInsurance, Mr. Val Ojumah, has said the future of insurance business lies on digital retail insurance marketing model.
Ojumah , who stated this at the 2020 MD/CEO and Retail Annual Competition (TRAC) Award organised by the company for its staff in Lagos recently, said any firm which builds its retail insurance base will smile when others are weeping.
"It is exciting to know that we sold, made profits and still have our jobs at a time when people couldn't even go out to work due to the pandemic.
"Though year 2020 was challenging, it has taught us how to do things better, away from the traditional way. All thanks to innovation and digitalisation", he said.
According to him, as a business that thrives in difficult times, FBNInsurance, would continue to adapt to changes that evolve with time.
He commended member of the retail team of the company for their efforts and charged them to do more.
He promised to continue to give them adequate support to ensure they meet their sales target.
"Be assured that I and my team will give more attention to what you will need to meet your targets," he assured.
Also speaking at the forum, the Executive Director, Retail Business Distribution, FBNInsurance Limited, Mr. Odinakachi Umekwe, commended the efforts of the retail team of the company for the outstanding performances they put forward despite the pandemic which continued to ravage the world during the year.
He added: "This team of over 2000 vibrant men and women all over Nigeria has sold insurance under the most challenging environment to ensure the company stays ahead in the retail space despite the limitations imposed by COVID-19."
He said the ceremony was to adequately reward the top financial advisors and motivate others to strive more.
At the ceremony, the Abuja sales area won the Best Performing Area award for the period under review while Enugu and Aba areas came second and third respectively. The winning areas were given cash reward for their efforts.
Similarly, a brand-new Hyundai Car was presented to the overall winner of the 2020 TRAC Award (Financial Advisors category), by Ojumah.
The prize went to one Okonkwo Nkechi Rita.
Also, winners in other categories got cash prizes, return tickets to United States of America, a trip to Dubai as well as training opportunity at the South African Business School, University of Stellenbosch.