By The Managing Director, WAPIC Insurance Plc, Mrs Adeyinka Adekoya, has said that the company is committed to providing solutions on how to mitigate risks in the ICT sector, especially in a volatile economic situation.
She said this during a seminar organised by the company with the theme ‘Mitigating risks in the telecoms and ICT industry: challenges and solutions’ in Lagos.
Adekoya said, “Risk is constant in life and all businesses, thus, risk management is an important aspect in the life cycle of businesses. In a progressively globalised world, risk management is in fact a measure that calls for constant remodelling, and fine-tuning to fit evolutions in business and the world in general. Globalisation has allowed for the proliferation of digital solutions, telecoms and ICT.
“The technological and industrial advancement in itself poses a risk to our collective future. To secure a progressive future, it is important that all technological investments of today remain sustainable and scalable for the future. This is the reason we are gathered here today, to share risk management perspectives, and the alternative methods of managing risk exposures of telecoms and the ICT companies, especially within a volatile economic environment like Nigeria.”
While explaining that insurance as one very important risk management measure, she said that there were many other valid measures that together with insurance would provide the right fortification for telecoms and the ICT companies in Nigeria.
According to Adekoya, there are also many ways that insurance can provide fortification for the industry than how it is doing currently done.
“At Wapic, it is our desire to always lead in all that is worthy, and to provide maximum value for all our clients,” she said.
The Managing Director, United African Insurance Brokers Limited, Yombo Bammeke, while speaking on the theme of the seminar described the ICT as an umbrella term that would include any communication device or application, encompassing radio, television, cellular phones, computer and network hardware and software, satellite systems, as well as the various services and applications associated with them.
He said that the value chain covered equipment (hardware makers), software developers and service providers, among others.
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