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‘Claim payment is key to deepening insurance penetration’

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There is a need for insurance operators to embrace prompt payment of claims to retain public trust and ensure the sector contributes optimally to economic growth.

The Managing Director and Chief Executive Officer, Capital Express Assurance Limited, Adebola Odukale, said this at the yearly general meeting and members’ evening of the Northern Area Committee (NAC) of the Nigerian Council of Registered Insurance Brokers (NCRIB) held in Kano State.

Odukale charged insurers to settle all genuine claims immediately after documentation, saying this is important to build public confidence in the sector.

She said claim payment was the basis of every insurance contract and helps in enshrining confidence amongst insurance buyers.

“We have continued to use excellent service delivery in all areas of operation in propagating the importance of insurance to clients. This is why we have improved the digitisation process to enable us to serve customers in real-time and with speed,” she said.

Chairman of the NAC, Adeniji Samuel Olukotun, appreciated the underwriter for hosting the event, which was an initiative of the national secretariat of NCRIB that offers an opportunity for brokers and underwriters in the insurance industry to interact.

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