Lasaco in strategic visit to Agric Minister of State, harps on support for farmers, cooperatives

Lasaco Assurance Plc is leading a new effort to strengthen the insurance industry’s support for Nigeria’s agricultural sector.

This came with the company’s highpowered team’s strategic courtesy visit to the Honourable Minister of State for Agriculture and Food Security, Dr. Aliyu Sabi Abdullahi.

The visit held on Thursday, 3rd July 2025, according to a statement obtained on Monday, highlighted Lasaco Assurance Plc’s ongoing commitment to delivering insurance solutions tailored to the needs of farmers and cooperatives.

Managing Director/CEO of the company, Mr. Razzaq Abiodun, and key executive team members, led the presentation of the Lasaco Assurance Plc Cooperative Insurance Scheme, designed to provide farmers and agricultural cooperatives with reliable risk protection, financial security, and long-term sustainability.

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During the meeting, Lasaco Assurance Plc emphasized on its mission to deliver accessible, customer-centric insurance products that could respond to the real challenges faced by everyday Nigerians, including those in the agricultural sector. The mnister welcomed the initiative, recognizing its potential to complement government efforts in driving food security, rural development and economic resilience.

The visit also served as an opportunity to explore public-private partnerships that could support the broader goals of agricultural transformation in Nigeria.

With over four decades of experience in delivering trusted insurance solutions, Lasaco Assurance Plc continues to position itself as a key enabler of economic stability and protection for vulnerable communities.

The statement noted that the strategic courtesy visit was a reflection of Lasaco Assurance Plc’s forward-thinking approach, proactively aligning services with national priorities while keeping the interests of the customers at the core.

It stated, “This served as an act of commitment to bridging protection gaps, building trust at the grassroots, and supporting the future of agriculture in Nigeria.”

“As Lasaco Assurance Plc expands its footprint in the agric-insurance space, it remains dedicated to building solutions that empower individuals, strengthen cooperatives, and support the long-term growth of Nigeria’s agricultural sector,” it added.

Lasaco in strategic visit to Agric Minister of State, harps on support for farmers, cooperatives

Insurance a necessity for national development, say NAICOM, CIIN

The Commissioner for Insurance and CEO of the National Insurance Commission (NAICOM), Mr. Olusegun Ayo Omosehin, has called for a nationwide embrace of insurance as a critical tool for national resilience and economic growth.

Speaking at the opening of the inaugural Insurance Week 2025, themed “Insurance for All: Securing Nigeria’s Future”, in Lagos on Monday, Omosehin emphasized the vital role of insurance in mitigating risk and safeguarding Nigeria’s future.

He described the event as more than a celebration, stating, “It is a call to action, a national awakening to the importance of insurance in everyday life.”

He highlighted how economic shocks, disasters, and health crises continue to pose threats to national development, asserting that insurance remains the most effective buffer against these risks.

Commending the Chartered Insurance Institute of Nigeria (CIIN) and its President, Mrs. Yetunde Olubunmi Ilori, for championing this national initiative, the Commissioner reaffirmed NAICOM’s commitment to industry reform.

These include improving consumer protection, fostering digital innovation, strengthening governance, and expanding access to underserved communities.

He called on all industry stakeholders, insurers, brokers, agents, and professionals to commit to public education, inclusive product design, prompt claims processing, and continuous investment in talent and technology.

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“As we mark Insurance Week, let us spread the message: insurance is not a luxury, it is a necessity,” Mr. Omosehin said.

He urged collaboration across sectors to ensure every Nigerian is protected and the nation’s economy becomes more resilient.

Mrs. Ilori described the initiative as a defining moment and strategic milestone in the Institute’s journey toward industry transformation.

Anchored on the EPIC Agenda—Education, Professionalism, Institutional Recognition, and Capacity Building—the President emphasized that this inaugural event specifically highlighted the pillars of education and institutional recognition.

It aimed to bridge the insurance literacy gap and celebrate excellence within the profession through education-driven programmes and credible awards.

The president credited the conception and execution of the Insurance Week to collaborative efforts across the industry, with notable leadership from some past CIIN presidents.

The week featured events such as an Innovation Hackathon, unveiling of a new mascot “Niko”, and a nationwide series of industry-focused activities.

Calling on clients and the public for active engagement, the President reaffirmed CIIN’s commitment to transparency and innovation.

With over N622 billion in claims paid in 2024, the Institute pledges to do more, stressing that the success of Insurance Week 2025 marks only the beginning of a renewed and dynamic insurance future in Nigeria.

The Insurance Week 2025 continues with nationwide activities and stakeholders’ engagements.

Insurance a necessity for national development, say NAICOM, CIIN

Lasaco celebrates Northern customers, stresses collaboration for excellent services

Lasaco Assurance Plc, a prominent player in Nigeria’s insurance industry, says it will continually invest in technologies and systems that deliver tangible value to clients and drive industry innovation.

This was disclosed by its Managing Director, Mr. Razzaq Abiodun, at its 2025 Customer Forum for the Northern Region held at the prestigious A-Class Park, Maitama, Abuja.

The event is considered a demonstration of the company’s continued commitment to customer-centricity, innovation and market leadership.

It brought together a distinguished assembly of customers, including policyholders, brokers, corporate clients, and industry partners, to engage in a robust dialogue aimed at enhancing service delivery and aligning offerings with the evolving expectations of the northern market.

Delivering a keynote address, Mr. Abiodun, provided a compelling overview of Lasaco assurance’s recent performance and strategic priorities. He highlighted the company’s consistent premium income growth, bold digital transformation agenda, and ongoing operational restructuring designed to ensure responsiveness and resilience in a dynamic insurance landscape.

Abiodun reiterated Lasaco assurance’s resolve to continually invest in technologies to drive industry innovation.

Regional Manager (Northern Region), Mr. Kunle Hamza, underscored the company’s unwavering dedication to stakeholders’ engagement as a foundational pillar of its growth strategy.

He emphasized that customer insights remained integral to shaping policies, refining service processes, and reinforcing the company’s brand promise.

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The forum’s interactive session offered an invaluable platform for open and constructive dialogue.

Participants—representing diverse market segments—provided actionable feedback on critical areas including claims processing, product accessibility, communication channels, and overall service efficiency.

The interactive session proved to be the forum’s highlight, with attendees offering candid feedback which tremendously highlighted the areas of need and improvement in the Northern insurance market Attendees further emphasized the importance of strengthening broker relationships and sustaining product offerings.

Addressing the customers, Head of Strategy, Mr. Adedayo Adetokun, affirmed that Lasaco assurance was actively developing multiple digital platforms to cater to various customer segments—part of a broader digital innovation roadmap that positions the company for future growth.

He noted that human capital development was also being prioritised, with targeted investments in talent acquisition and training to enhance operational capacity.

In his closing remarks, General Manager, Sales, Mr. Muyiwa Anwoju, expressed the management’s deep appreciation for the feedback received. He assured participants that all contributions would be meticulously reviewed, categorised, and integrated into the company’s improvement plans. According to Anwoju, this forum marked the beginning of a renewed customer engagement framework, one that would be expanded across other regions in due course.

The event concluded with a heartfelt vote of thanks delivered by attendees to the organizing committee, ably led by Miss Oluseye Smart, Head of Corporate Communications and Customer Experience, whose coordination ensured the forum’s resounding success.

Lasaco celebrates Northern customers, stresses collaboration for excellent services