Former Lagos State Governor, Babatunde Fashola (SAN), has called for a shift from ceremonial alumni activities to direct investment in education. Fashola gave the charge yesterday during the presentation of a posthumous book authored by the late Staco Insurance Managing Director, Dr Olawale Banmore, where he urged professionals and old students’ associations to prioritise rebuilding public institutions, particularly schools.
The event, held in Lagos, also served as a platform for renewed industry-wide conversations on the need to strengthen customer confidence in insurance by improving claims settlement efficiency. Fashola described the late insurance expert, Banmore, as a model of responsible citizenship. He also lauded the late insurance expert’s commitment to service and advancement of education, urging Nigerians to support the schools and communities that shaped them.
The Book Launch
Banmore’s book, titled “The Claims Advantage: How Smart Insurance Firms Win and Keep Customers”, was unveiled before a gathering of regulators, operators and policymakers, many of whom agreed that poor claims experience remains a major barrier to insurance penetration in Nigeria.
The former Lagos State governor said alumni groups must go beyond social networking to tangible contributions, such as classroom development, scholarship funding and support for learning infrastructure, stressing that the survival of institutions depends on sustained engagement from beneficiaries.
Call for Reform
Chairman of the occasion, Mohammed Kari, noted that Banmore’s work addresses long-standing gaps in claims administration and professional ethics within the industry, describing it as timely. He advocated the institutionalisation of a yearly lecture in Banmore’s honour to drive continuous dialogue on reforms in insurance practice.
In his review, veteran journalist, Reuben Abati, said the book provides practical solutions to issues undermining public trust, including delayed claims, fraud risks and weak customer engagement. Abati maintained that claims settlement remains the strongest indicator of credibility for insurance firms, adding that the integration of technology and transparency would be critical to industry growth.
He further said that Banmore completed the manuscript while battling prostate cancer, describing the publication as both a professional contribution and a personal testament to resilience.
