Dr. Olawal Banmor's "Claim Advantage" on Insurance Claims

Dr. Olawal Banmor's book "Claim Advantage" discusses the importance of claims management in the insurance industry, particularly in Nigeria, where the insurance business penetration rate is around 0.5% of GDP, significantly below the global average.

Banmor argues that effective claim management is essential for insurance firms to build customer trust and secure market share. He highlights that the ability to manage claims efficiently can be a decisive factor in the success or failure of insurance companies, especially in unpredictable situations like accidents or sudden deaths.

The book is structured into six chapters, totaling 116 pages, and provides actionable strategies for improving claims management practices. Banmor's extensive experience in the insurance sector includes roles as Managing Director at Royal Exchange Prudential Life PLC and Staco Insurance PLC.

He holds a bachelor's and master's degree from the University of Ibadan and an MPhil and Ph.D. from Babcock University. The book serves as a wake-up call for the insurance industry to transform its claims management processes.