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Dr. Japhet Duru Calls for Flexible Insurance and Pension Structures for Youths

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Managing Director/Chief Executive Officer of Universal Insurance Plc, Dr. Japhet Duru, has emphasized on the need for the insurance industry to transition from traditional models to more flexible and adaptive structures that resonate with younger generations.

He disclosed this at the 2026 BusinessToday Annual Conference and Exhibition on insurance and Pension held at Oriental Hotels, Lagos.

The conference themed “Youth Advantage: Redefining Insurance and Pension for a New Era,” this year’s conference focused on promoting the integration of insurance and pension practices into the everyday lives of young people.

He highlighted the importance of innovation, transparency, and value-driven offerings in driving this transformation.

“Young people today are not inherently opposed to insurance or pensions,” Dr. Duru noted.

He explained that many existing insurance and pension frameworks are built around long-term, rigid commitments, which may not align with the realities of youths navigating uncertain and evolving career paths.

He warned that failure to address this gap could hinder industry growth and leave a significant portion of the population underinsured.

Dr. Duru further underscored what distinguishes Universal Insurance Plc, noting the company’s commitment to a flexible work environment that attracts and retains young talents.

He revealed that approximately 40% of the company’s workforce comprises youths who have been instrumental in driving innovative initiatives and enhancing the company’s brand positioning.

He added that, to support and motivate its young workforce, the company invests in their professional development by sponsoring certification programmes, including examination fees and study materials, while also offering competitive remuneration aligned with performance and value delivery.

According to him, the impact of youth engagement within the organization is evident across key areas such as brand marketing, digital channels (E-Channel), and the development of innovative insurance solutions. One such product is ShopInsure, designed to provide affordable protection for small business owners.

“The future of insurance depends on how well we adapt today,” he stated. “By redefining insurance and pensions for a new era, we can empower young people to secure their financial futures while driving sustainable growth across the industry.”

The post Dr. Japhet Duru Calls for Flexible Insurance and Pension Structures for Youths appeared first on Business Today NG.

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Business

Customer Testimonial Highlights Why Mutual Benefits Assurance Stands Out

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BY NKECHI NAECHE-ESEZOBOR—In a time when confidence in insurance is steadily growing, a satisfied customer of Mutual Benefits Assurance Plc is sharing his experience to encourage more Nigerians to embrace the value of protection and peace of mind.

Mr. Abdelhamid Abdelrahman of RAP Building Solutions Ltd recently applauded the company for its swift claims settlement and attentive customer service, describing his journey as clear evidence that insurance truly works when managed by a dependable provider.

Abdelrahman explained that his decision to insure his vehicles with the company was influenced by its strong reputation and visible presence within his business environment in Lagos. Easy access to one of its offices also gave him added confidence, allowing for seamless interaction and support whenever needed. Four years on, he remains a loyal customer.

He said: “I had my doubts at some point, thinking that because they are one of the oldest insurance companies, perhaps their service might not be as efficient. But when I had a vehicle claim in 2023, it was processed in no time.

He added that subsequent claims involving other vehicles in his fleet were handled just as efficiently, further strengthening his confidence in the company.

“Since then, I have felt that whenever I have a vehicle, I will always subscribe to their packages and services. Mutual Benefits may be one of the oldest, but they are still one of the most responsive insurance companies in Nigeria. Their response to customers’ questions and feedback is very fast. I have no regrets partnering with them,” he stated.

Abdelrahman also used the opportunity to encourage Nigerians who remain sceptical about insurance to reconsider their views.

“Many people believe insurance does not work in Nigeria, but it does. When the time comes to make a claim and it is handled smoothly, then you know insurance truly works,” he said.

Industry experts have repeatedly noted that prompt claims settlement remains one of the strongest indicators of trust and credibility in the insurance sector. According to analysts, customers are more likely to retain policies, renew coverage and recommend insurers when claims are paid quickly and transparently.

They explain that efficient claims management not only provides financial relief during difficult times but also helps improve public perception of insurance as a dependable financial safety net. In markets where scepticism exists, real customer experiences and timely claims payments often play a critical role in driving adoption.

Mutual Benefits Assurance Plc has consistently positioned prompt claims settlement as a core part of its customer promise, with billions of naira paid out monthly across life and general insurance categories.

As economic uncertainties continue to heighten the need for financial protection, stakeholders say insurers that deliver swift and seamless claims experiences are likely to enjoy stronger customer loyalty and wider market acceptance.

The post Customer Testimonial Highlights Why Mutual Benefits Assurance Stands Out appeared first on Business Today NG.

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Business

Pastor Arrested Over Alleged Defilement of Minor in Karshi

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BY SUNDAY SAMUEL—Nasarawa State Police Command  attached to Karshi Divisional Headquarters have arrested one Pastor Asonye Isaiah, 37, of Rock of Love and Adoration Ground, Old Karsh I, Abuja, for allegedly defiling a 16-year-old girl in Nasarawa State.

According to statement released by SP Ramhan Nansel, Police Public Relations Officer, via the commands official X account that the arrest followed a complaint lodged at the Division on 18th April, 2026, at about 2000hrs.

Preliminary investigation revealed that the suspect deceived the victim’s aunt, claiming her niece was “

possessed” and required cleansing at a river. He instead took the victim to a hotel in New Karshi, where he allegedly had unlawful carnal knowledge of her twice. He further threatened to kill her if she disclosed the incident.

The crime came to light after the victim’s guardian observed unusual changes in her behaviour and questioned her. The victim was immediately taken for medical examination, which confirmed penile penetration.

Upon interrogation, the suspect confessed to the offence and pleaded for leniency.

The Commissioner of Police, CP Shetima Jauro Mohammed, has directed that the case be transferred to the State Criminal Investigation Department, Lafia, for comprehensive investigation and prosecution.

He assured that justice will be served and urged members of the public to exercise caution regarding places of worship they attend and individuals who parade themselves as clerics.

The post Pastor Arrested Over Alleged Defilement of Minor in Karshi appeared first on Business Today NG.

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