*********Int’l Conference On ICT Utilization In The Modern World of Insurance Systems: UNESCO Laureate Commends Abass on Paper Presentation
*******As The First African UNESCO Laureate Appreciates Dr. Abass Owolabi On Contributions To Global Insurance Sector Development.
****The Chairman Board of Trustees, Africa Information Technology Consultancy Services (AITC) Commends Global Participants, Mewar International University, Abuja On Support.
By Victor Bieni, Asaba
Dr. Abass Owolabi, a renowned Insurance Broker, and Managing Director, Hansworth W.A Insurance Brokers Limited Abuja, Nigeria, has been commended by UNESCO Laureate, Prof. Sir Bashiru Aremu, on successful lectures for his excellent paper presentation at an international conference on ICT utilization in the modern world of Insurance Systems and the 21st Century e-commerce.
Shocknaija Media (News Online) learnt this from the Chairman Board of Trustees, Africa Information Technology Consultancy Services (AITC), Prof Sir Bashiru Aremu today being Sunday, October 12, 2025 in a Telephone conversation with our reporter has commended the success of Dr Abass’s lectures on ICT’s roles in Insurance Systems while thanking global participants, the leadership of Mewar International University, Abuja, Nigeria on support.
Dr. Owolabi Abass Aderemi is a PhD holder and Managing Director/CEO of Hansworth (W.A) Insurance Brokers Ltd. Dr. Abas Owolabi is a PhD holder whose Research thesis was on:”Nigerian Roles in the Development of International Organizations in Africa: ECOWAS as a Case Study” at Crown University Int’l Chartered Inc. in the USA. He is also a Fellow of the Nigerian Council of Registered Insurance Brokers (FCIB).
UNESCO Laureate who spoke to our reporter had Commended Dr. Abass Owolabi Ph.D, M.phil, MBA, FIIN, FCIB on his recent paper presentation earlier this month of October. That is, successful lectures on Insurance and ICT carried out on internet platform via zoom. He also, commended other Speakers, dignitaries, participants who made the international conference colourful as sponsored by AITC.
Speaking to our reporter, Aremu had stated that the conference as anchored on the theme:”The Importance of Information and Communication Technology (ICT) in the Modern World of Insurance” highlighted today’s rapidly changing business environment, Information and Communication Technology (ICT) that has become the backbone of nearly all industries, including insurance.
Prof Aremu who quoted Dr Abass Owolabi as he stated: “Traditionally, the insurance sector was paper-driven, slow, and heavily dependent on face-to-face interactions. However, with the adoption of ICT, the industry has experienced a revolution in efficiency, accessibility, service delivery, and customer satisfaction. ICT is no longer just a support tool but a central driver of innovation, competitiveness, and growth in the modern insurance landscape”.
“ICT’s relevance in the modern world of Insurance systems are very enormous. These included amongst others are: One, Enhancing Customer Service:- ICT has transformed how insurance companies interact with clients. Online platforms, mobile apps, chatbots, and call centers powered by ICT allow insurers to provide round-the-clock services. Policyholders can easily access policy details, make claims, and receive updates without physically visiting offices. This convenience enhances customer experience and builds long-term trust.
“Two, Efficiency in Operations:-The integration of ICT enables insurance companies to streamline administrative tasks such as underwriting, policy issuance, claims processing, and record keeping. Automation reduces paperwork, eliminates delays, and minimizes human error. For example, claims that once took weeks can now be settled within days—or even instantly—with the help of artificial intelligence and digital databases.
“Three, Data Management and Analytics: Insurance thrives on information. ICT provides insurers with tools to collect, store, and analyze large volumes of data. Advanced analytics and big data enable companies to assess risks more accurately, design tailored insurance products, and detect fraudulent activities. Predictive modeling, powered by ICT, helps in pricing policies fairly and managing risks effectively”.
“Four, Product Innovation and Customization:-Through ICT, insurers can develop innovative products that meet the diverse needs of customers. Usage-based insurance, such as telematics in motor insurance, is made possible by ICT tools. Customers now enjoy customized premiums based on their behavior, such as safe driving or healthy lifestyles, which encourages responsible habits while improving risk management for insurers”.
“Five, Global Connectivity and Market Expansion:-ICT enables insurance companies to operate beyond geographical boundaries. Online platforms and digital marketing allow insurers to reach new customers globally. For instance, cross-border insurance, international reinsurance, and online comparison sites are all facilitated by ICT, thereby expanding the market scope of insurers”.
“Six, Cost Reduction: By automating processes and reducing the reliance on physical infrastructure, ICT helps insurance companies cut operational costs. Digital platforms replace physical branches, while online marketing reduces the cost of traditional advertising. These savings allow insurers to offer competitive premiums to customers”.
“Seven, Fraud Detection and Risk Management: Insurance fraud is a major challenge in the industry. ICT tools such as artificial intelligence, biometrics, and blockchain enhance fraud detection by tracking suspicious activities, verifying identities, and ensuring secure transactions. This protects both the insurer and policyholders”.
“Eighth, Regulatory Compliance: Insurance companies must adhere to strict regulations. ICT systems help in monitoring compliance by keeping accurate digital records, generating reports, and ensuring that companies meet industry standards. Automated systems also reduce the risk of penalties and reputational damage”.
VC CUICI, USA who commended the Nigerian born Insurance Broker, expert, researcher, Dr Abass Owolabi to had helped in improving efficiency and customer satisfaction in industry. He said: “Dr Abas Owolabi has helped towards driving innovation and reducing fraud in insurance sector”. Aremu noted further that ICT has become an indispensable tool in the insurance sector. That as technology continues to evolve, its role in shaping the future of insurance will only grow stronger.
In the words of UNESCO Laureate, Prof Sir Bashiru Aremu: “I sincerely commend my brother and and friend, Dr. Abass Owolabi on this recent Paper presentation On ‘Insurance Systems in The Modern World of ICT’. Dr. Abass Owolabi has contributed to global Insurance sector development as a world-class Insurance expert, Researcher and educationist. The importance of ICT in The modern world of Insurance cannot be overstated. It has revolutionarize the way insurance companies operate, interact with customers and manage risks”.
“Prof Sir Bashiru Aremu is the First African UNESCO Laureate, The Chairman Board of Trustees of Unity of Nations Action for Climate Change Council (UNACCC), an official Partner of United Nations and other organizations Worldwide. He is a distinguished Nigerian scholar in computer science and information technology”.
“Prof. Aremu has garnered international experience, notably as the First African UNESCO Laureate, a distinction formally recognized by UNESCO’s Central & South America Centre (Reg. Arg. 22/LT‑19; ISBN 978‑1571‑7412‑6)”
” Prof Sir Bashiru Aremu’s accolades of the Prize included amongst others are: The Global Golden Medal and Global Golden Certificate with others support from UNESCO for outstanding achievements and his contribution in education, creativity, and intellectual innovation”.
Prof Sir Bashiru Aremu currently holds several high-profile academic and leadership roles, among them are: Vice Chancellor, Crown University International Chartered Inc., USA, Chairman, Board of Trustees, Kings & Queens Medical University College, Ghana, Chairman Board of Trustees of Unity of Nations Action for Climate Change Council UNACCC an official Partner of United Nations and other organizations worldwide. Also as the Chairman, Accreditation Panels at Nigerian universities and other positions across the world”.