IEI Storms Tejuosho Market, Sparks Fresh Insurance Awakening Among Traders
- International Energy Insurance Plc engages Lagos traders to enhance insurance awareness and rebuild trust
- Insurance conversations are brought directly into daily commerce at Tejuosho Market to bridge knowledge gaps
- IEI aims to simplify insurance and foster grassroots engagement for greater financial inclusion in Nigeria
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International Energy Insurance Plc (IEI) has stepped up efforts to bridge Nigeria’s long-standing insurance knowledge gap, taking its awareness campaign directly to the bustling Tejuosho Market in Lagos in a renewed push to drive inclusion and rebuild trust.
The outreach brought insurance conversations into the heart of daily commerce, engaging traders, artisans and small business owners in a setting where financial risks are most real and immediate.
Source: Original
Taking insurance beyond boardrooms
The initiative signals a clear shift from conventional corporate messaging to hands-on, community-driven engagement. Instead of relying on formal campaigns, IEI met people where they work, creating space for real-time conversations and practical understanding.
Participants were not just passive listeners. Traders asked questions, shared experiences and received tailored explanations on how insurance applies to their everyday realities.
According to IEI’s marketing team, the approach is intentional.
“Insurance only becomes meaningful when people see how it fits into their daily lives,” a company representative said. “Being physically present in the market allows us to simplify concepts, address concerns instantly and build genuine trust.”
Breaking down barriers to understanding
At the core of the campaign was a straightforward message: insurance is not complicated or exclusive, but practical and accessible.
IEI representatives engaged traders in one-on-one discussions, explaining how basic insurance products can protect income, goods and livelihoods from unexpected disruptions such as fire, theft or accidents.
Products like personal accident cover and small business insurance were introduced as simple entry points, particularly for individuals who have traditionally viewed insurance as distant or irrelevant.
For many participants, the interaction marked their first clear understanding of insurance beyond mandatory policies, highlighting just how wide the knowledge gap remains.
A shift toward financial inclusion
The outreach reflects a broader transformation within Nigeria’s insurance industry, where operators are increasingly focusing on financial inclusion and grassroots access.
With a large portion of the informal sector still uninsured despite its significant contribution to the economy, initiatives like this are seen as critical to expanding coverage and strengthening economic resilience.
Industry players are also under pressure to improve service delivery, especially claims settlement, as they work to restore public confidence and attract voluntary participation.
Building trust through direct engagement
IEI noted that engaging people within their own business environments helps dismantle long-held scepticism about insurance.
Face-to-face conversations, the company believes, are far more effective in correcting misconceptions than traditional advertising.
The insurer added that it plans to replicate similar activations across major commercial hubs, targeting underserved communities where awareness remains low but demand for financial protection is high.
Driving long-term adoption
As regulatory reforms and capital requirements reshape the insurance landscape, IEI says its focus remains on simplifying products and positioning insurance as a necessity rather than a luxury.
Source: Original
The company is betting that consistent grassroots engagement will translate into increased adoption, particularly among small business owners who face daily exposure to risk without adequate protection.
For many traders at Tejuosho, the message was clear: insurance is no longer a distant concept but a practical tool for securing their future.
Tension as Onitsha market traders reject caretaker chairman
Legit.ng earlier reported that traders in the UBA Plank and Joist Association Ltd, Bridge Head Market, Onitsha, Anambra state, have rejected the caretaker executive appointed for the market by Governor Charles Soludo.
Anambra State Government, through the Office of the Special Adviser to the Governor on Trade and Commerce, appointed a 10-man caretaker executive to oversee the affairs of the market for a period of three months.
A letter to this effect, signed by the Special Adviser to the governor on Trade and Market, Hon. Evarist Uba, was dated March 6, 2023.
Source: Legit.ng
