‘How claims settlement will renew confidence in policy uptake’

Determined to regain the confidence back in the nation’s insurance industry, the Executive Director, Retail Business, AIICO, Sola Ajayi in an interview with The Guardian over the weekend on how claims payment is key to the development in the industry, said the firm’s recent payment of N350 million to customers within the first 48 hours of COVID-19 lockdown, attests to the resolve.

“We have been responding non-stop to our customers for payment of claims, policy loans, partial and full maturity benefits, etc. since the lockdown took effect and we are customer-centric; we put them first, and that differentiates us”, Ajayi added.

Managing Director/Chief Executive Officer, AllCO Insurance Plc, Babatunde Fajemirokun who also attested to this development said we value the investment of trust by our customers in our ability to protect them against risks, even in tough times.

We have invested substantially in building capacity and developing capabilities for business continuity, irrespective of the challenging situations we will experience. Our robust Business Continuity Plan has enabled us to continue operations without hitches.”

The Company is also leveraging its technology platforms and digital channels for optimum service delivery.

Fajemirokun stated further, “The customer traffic on our digital platforms has increased tremendously in recent times and so far, it has been a delightful experience.”

The Company has been actively running business operations by working remotely despite the COVID-19 disruption and has remained reachable to its customers

The Strategy, Marketing and Communications, Allianz Nigeria Bolade Odanye, who also spoke weekend on how prompt claim is paramount to the insurance business in the country expressed deepened footprints across Nigeria in quest to serving customers and shareholders even better than previous years.”

Odanye reiterated that “Customer satisfaction is the fulcrum of insurance business and this inevitably builds customer loyalty will not fail to ensure this.

This, she said customers’ claims as they arise, numerous customers and the general public will have faith to take up more life policies because they are convinced that should a claim/loss arise,

Other underwriters that also explained how they are paying customers in just 60-minutes, as a nationwide campaign to settle motor claims within 60 minutes that was launched on February 17, 2020, has seen a total of 53 claims to the tune of N2, 784, 225 settled in less than an hour.