Youth Engagement Key to Nigeria's Insurance Growth

Adedayo Arowojolu, the Managing Director and Chief Executive Officer of Unitrust Insurance Company Limited, called for deliberate efforts to increase youth participation in Nigeria's insurance industry. Speaking as a panellist at the 2026 BusinessToday Annual Conference held in Lagos, he stressed that the sector must align with the realities of younger generations.

Arowojolu noted that insurance is rarely seen as a preferred career option among students and young professionals, often ranking low compared to sectors like oil and gas, fintech, and banking. He acknowledged the industry's rich long-term opportunities but pointed out that immediate rewards often appeal more to the youth.

Arowojolu identified two major strategies for engaging young people: stronger advocacy and product innovation, emphasizing the need for direct youth involvement in product development. He also highlighted the importance of rebuilding trust in the industry, particularly regarding prompt claim settlements, and suggested leveraging technology to enhance access to insurance products.