Equity Assurance drives motor third party cover with mobile USSD solution

In an effort to deepen insurance penetration in Nigeria, Equity Assurance Plc has unveiled innovative mobile Unstructured Supplementary Service Data (USSD) insurance solution to boost motor third party products in Nigerian market.

The company, a member of SUNU Group-an Insurance Group that operates in countries across Africa, said that the solution works with simple device is self-service solution that enables car owners/users to purchase authentic 3rd party Auto Insurance with the use of their mobile phones in less than five minutes.

The Managing Director Moruf Apampa, at the launch in Lagos, said the Mobile USSD application serves as a platform for customer engagement, claims payment and other after-purchase services.

He maintained that the company’s decision to develop this ground-breaking mobile insurance solution is aimed at ensuring excellent customer experience at all times for its existing and prospective customers at affordable cost, adding that it guarantees customer convenience, easy and secure access, real-time interaction and speedy service.

Apampa stressed that the application will be available to all customers, regardless of their GSM network or type of phone they use, whether they have internet access or not, effective December 8, 2017.

According to him, Demo and animated illustrations can be viewed by prospective customers and general public on the firm’s website in order to better understand how to purchase/use the product as well as its different service features and functionalities.

In response to a question regarding the Company’s decision to go the digital route, Apampa who took over the reins of Equity Assurance in December 2016, went on further to explain the firm’s strategic decision to deploy low-costdigital/mobile technologies as a means to overcoming longstanding industry challenges while effective and affordable insurance solutions to Nigerians, regardless of their location or economic/social status.

“The firm has witnessed a surge in purchase of its insurance products since testing the application with a few selected customers,garnering a lot of very positive feedback from the customers and organisations that are looking to partner. I can confidently say that Equity Assurance Plc is on the verge of revolutionizing the insurance marketplace in Africa within the next few years,” he said.

The Chairman of the underwriting firm, Abba Kyari Bukar, speaking at the launch, said Equity mobile insurance solution is not just innovative for the sake of it, it is designed to address existential challenges that have faced insurance customers in Nigeria over the past 100 years. Kyari Bukar further stated “We are well aware of the Government’s drive towards achieving financial inclusion across the country.

The Equity Mobile Insurance solution is designed to further this objective as it is available to everyone, regardless of their GSM network, type of phone or whether or not they have access to the internet.”

Apampa, who until last year was at AIICO Insurance as General Manager – a role he played successfully with exemplary leadership and proficiency – has deep understanding of consumer behavior and the power of digital technologies. He has garnered over 24years experience in the Insurance industry. Since joining the Equity Assurance family in 2016, the firm has recorded significant wins in product innovations, customer satisfaction, growth and value creation.