Bastion urges actuaries to promote transparency

Bastion Health has called on actuaries to champion transparency and foster industrial collaboration to enhance the insurance and pension sector.

In a statement made available to our correspondent, the Managing Director of Bastion Health Naomi Aduku, disclosed this at the National Risk Compendium program at the University of Lagos on Wednesday.

Bastion Health is a  HMO in the Nigerian market, which provides healthcare insurance solutions aimed at improving healthcare accessibility.

The event, themed “Transparency and Clarity in Insurance Policies: Navigating Risk Through Clear Policies, Claims, and Actuarial Expertise,” aimed to bridge the gap between the risk management industry and emerging talents.

Aduku stated that transparency in the financial services sector, particularly in insurance and pension management, is essential for fostering growth.

“In our business of improving healthcare accessibility and affordability through health insurance, it is imperative to define and segment the market, tailor the right products to the right audience, and ensure appropriate pricing and product definition for each market segment. Actuaries are vital to the business of insurance,” she noted.

She noted that Bastion Health remained committed to its mission of making good healthcare more accessible and affordable to Nigerians.

“We are dedicated to bridging the gap between academia and industry, providing students with valuable knowledge, guidance, and motivation that can positively impact their academic and professional growth,” Aduku added.

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