AXA Mansard has called on insurance journalists to move beyond basic reportage and take on the critical role of interpreting complex industry reforms for ordinary Nigerians, particularly as the ongoing recapitalisation exercise reshapes the insurance landscape.
The appeal came from Olusesan Ogunyooye, Head of Marketing at AXA Mansard, during the inauguration of the newly elected executives of the National Association of Insurance and Pension Editors. He acknowledged the association’s longstanding contribution to connecting the insurance sector with the public while emphasising that a significant education gap still persists.
Ogunyooye congratulated the new leadership and praised NAIPE members for their credible, insightful, and consistent reporting. But his message carried a deeper challenge: the public does not only need information, they need understanding.
Brandspur Brand News gathered that Ogunyooye framed the ongoing recapitalisation as more than an industry story, describing it as a consumer story with direct implications for how Nigerians experience financial security. He argued that media professionals have a unique role in helping consumers grasp the direct benefits of a stronger, more resilient insurance industry.
The insurance sector recapitalisation has forced operators to raise their capital bases significantly, a process designed to improve the industry’s capacity to underwrite large risks, settle claims promptly, and compete more effectively. For policyholders, the reforms promise better protection, while for the economy, a stronger insurance sector can absorb risks that would otherwise deter investment.
Ogunyooye stressed that the media’s role in helping Nigerians connect industry reforms with their daily realities could drive greater confidence, improve claims settlement capacity, foster innovation, and deliver better protection for individuals, families, and businesses.
He noted that clear interpretation and simplification of industry developments are critical to boosting insurance awareness, building public trust, and increasing adoption of insurance products across Nigeria. The country’s insurance penetration rate remains among the lowest in Africa, with millions of Nigerians viewing insurance as an unnecessary expense rather than a financial safety net.
The inauguration brought together insurance leaders, regulators, media professionals, and key stakeholders, celebrating NAIPE’s new leadership while emphasising the vital role of journalism in driving the growth and development of Nigeria’s financial services sector.
AXA Mansard reaffirmed its commitment to working closely with the media and industry stakeholders to promote insurance education, financial inclusion, and protection initiatives that benefit Nigerians. The company’s call reflects a broader industry recognition that regulatory reforms alone cannot transform public attitudes toward insurance without effective communication.
For the new NAIPE executives, the message sets a clear expectation: their tenure will be judged not only by how accurately they report industry developments but by how effectively they help Nigerians understand why those developments matter. The recapitalisation exercise provides an immediate test case for whether insurance journalism can evolve from covering events to shaping public understanding.
