The Company, which is drawing technical capacity and partnership resources from its parent company in India, has already approached the industry regulator, the National Insurance Commission for approval of its new line of products.
The Managing Director/Chief Executive Officer, Prestige Assurance Plc, Balla Swamy, who disclosed this during the Company’s 2016 Brokers Evening held in Lagos, said this is one of its new products, which will hit the market soon.
According to him, we are coming up with a set of new products including a travel insurance policy, health insurance policy, terrorism policy, and personal accident policy among others.
He however said efforts were being made to get clearance from NAICOM as part of its strategy to deepen penetration, grow premium and impact more on the life of Nigerian citizens.
Speaking further, he noted that the Company will continued to be innovative and with more investment in technology infrastructure having established consumer interaction portals, prestige is poised to serve its customers and brokers better in a mutually beneficial way.
“Prestige Assurance plc is a stable company. We have been committed to settling claims promptly and customers are happy with us. We are making effort to promote our services by letting people, especially the brokers realise that we are public limited company. Through this, people can subscribe to our service, while the brokers can also assist us in selling the products of the company, in our bid to deepen insurance penetration,” Swamy stated.
In his remark, the Chairman of the Company, Hassan Usman, said every forward looking organization will strengthen relationship with partners, stating that this is the reason why Prestige will always value its broker partners.
“At a time when the economy is going through tough times with depression in rates, the only way to remain sustainable and continue to create shareholder value is to be innovative”.
“It’s only institutions that are innovative and strategic in their business operations that would weather the storm, survive and lead the market when the growth opportunities begin to come,” Usman stated.
He therefore assured the brokers and customers of the readiness of the Company to create value in the business through adequate infrastructure and customer engagement.
