Amid growing inflation and increasing customer awareness, underwriting firm, AXA Mansard Health, has reaffirmed its commitment to growing the Nigerian insurance market.

The Chief Executive Officer of the organisation, Tope Adeniyi, spoke to The Guardian about how committed his company is to growing the sector.

Adeniyi explained that the company has witnessed unprecedented growth in the past seven years owing to its focus on customers, investment in technology and quality service delivery. He maintained that even in the face of uncertainties in the market, AXA Mansard Health has remained committed to its customers’ tailored needs.

“The economic environment has been challenging and as the biggest player in the health insurance space; we are probably the most impacted. As inflation was growing, the cost of care was rising with it. But rather than reneging on our commitment to customers like most providers are doing, we decided to stay true to our words and our customer-first philosophy even when this commitment comes at a cost to us.

“We now sit with our customers to review the situation and because of the sacrifices we have made on their behalf, the conversation around repricing of services has been much more fruitful. We expect to start seeing the impact of these discussions from Q4, 2022.”

He stressed that the commitment from customers stems from the different cost-optimisation solutions the company presented to them.

“We did not just go to our customers and say inflation is high, therefore we need to reprice our services accordingly. No, we leveraged our prior investment in technology to optimise cost where possible. So, by the time we made the presentation to our customers, they saw us as partners that deeply understand them. So the conversation is easier,” he said.