Persuading youths across the country to become insurance policyholders and professionals, will deepen insurance penetration and acceptance, says the managing director/chief executive officer of Unitrust Insurance Company Limited, Mr. Adedayo Arowojolu,
Speaking as a panelist at the 2026 edition of the BusinessToday Annual Conference and Exhibition on Insurance and Pensions held in Lagos recently with the theme; ‘Youth Advantage: Redefining Insurance and Pensions for a New Era,’ Arowojolu identified two key approaches: converting youths into customers and attracting them as professionals.
On customer engagement, he emphasised the need for increased advocacy, product innovation, and youth involvement in product development.
“We cannot continue to sell the same products and expect different results. Young people should be part of designing products that meet their needs,” he noted.
He also underscored the importance of rebuilding trust in the industry, particularly, through prompt claims settlement. He commended regulatory efforts to ensure accountability, noting that, insurance companies are now required to regularly justify outstanding claims or face penalties.
In addition, he stressed the importance of leveraging technology, including fintech and insurtech platforms, to make insurance products more accessible and engaging for younger audiences. ‘Everyone uses a mobile phone today. Insurance products must be integrated into these platforms to remain relevant,’ he said.
On attracting youth as professionals, Arowojolu noted that, insurance companies are increasingly improving remuneration and workplace culture to compete with other industries.
He revealed that, Unitrust Insurance has, in recent years, deliberately recruited young talent to inject fresh ideas and innovation into the organization.
However, he emphasised that, recruitment alone is not enough.
“The key challenge is retention. Organizations must create environments that resonate with young people,” he said.
He highlighted initiatives such as flexible work arrangements, hybrid work models, and support for professional development as critical factors in attracting and retaining young talent.
“For instance, we operate a hybrid system with three days of physical presence weekly, allowing employees time for personal pursuits while maintaining productivity,” he explained.
Arowojolu encouraged young people to consider insurance both as a means of financial security and as a viable, rewarding career path.
While calling for increased youth participation in Nigeria’s insurance industry, emphasising the need to reposition the sector to align with the expectations of a younger generation.
According to him, the insurance industry must deliberately attract young people, noting that many youths do not naturally consider insurance as a preferred career path.
“If we take a poll among students today on their preferred industries, insurance will likely rank low, behind sectors like oil and gas, fintech, and banking,” he said.
He admitted that his own entry into the industry was accidental, but described the sector as one filled with opportunities and long-term value.
“I found myself in insurance by chance, but since joining, I have discovered what I would have missed if I had not worked in the industry,” he added.
Arowojolu explained that insurance, by its nature, offers future value, which may not immediately appeal to a generation that prioritizes instant rewards.
However, he stressed that, changing economic realities now allow young people to earn and build wealth earlier, making financial protection more relevant than ever.
