International Energy Insurance Plc (IEI) said it is determined to deepen insurance penetration in the country as it plans to drive N5.3 billion in revenue with cutting-edge technology this year.

The Managing Director of IEI, Supo Sogelola, disclosed at a press conference the unveiling of the new management of the firm following its acquisition by Norrenberger, an integrated Financial Services Group last year.
“We are projecting to get N5.3 billion and looking at having a profit of over 10 per cent to start with as we plan to engage more insurance brokers to drive insurance acceptance across Nigeria,” he said.

Sogelola assured that apart from working with the brokers, the firm resolved to bring in innovations, value-added services, business expansion and brand equity.

He assured that IEI would come up with world-class new products not yet offered by companies in Africa to meet customers’ needs.

He said the firm was looking at alternative channels, the MSMEs and SMEs to boost its market share.

Sogelola said the 54-year-old firm would be using world-class technology to drive business, noting the firm was looking at promoting its travel insurance and going into the energy sector among others to restore lost ground.