Underwriting firm wins award

AXA Mansard has emerged winner of the “Most Innovative Insurance Company of the Year” at the maiden edition of Top 25 Most Innovative Companies & Institutions in Nigeria Awards 2017, held in Lagos.

The event was organised by the BusinessDay to celebrate leading organisations and institutions advancing the frontiers of innovation and inspiring the new generation of innovators in shaping Nigeria and Africa’s future.

The firm was also recognised for its AutoFlex, an innovative motor insurance digital media campaign it ran in 2016, which gave customers the flexibility to customise their motor insurance covers instead of the traditional approach that makes them buy all the modules of fire, theft and accidental damage compulsorily.

Commenting on the recognition, the Chief Executive Officer of AXA Mansard Insurance Plc, Yetunde Ilori, said: “This achievement is indicative of AXA Mansard’s consistent commitment to redefining standards in the industry and we truly appreciate BusinessDay for recognising innovation in the insurance sector”.

The Head, Strategy, Planning and Marketing Group, AXA Mansard, Kola Oni, explained that “AutoFlex was an innovation that sought to democratise motor insurance and empower our customers by allowing them, in addition to the compulsory 3rd party insurance, to select other covers they want based on their unique risk exposure.

We basically gave our customers the power to customise their motor insurance policy.”According to Oni, “Comprehensive motor insurance has always been sold as a bundle containing accidental damage, fire, and theft among others. AutoFlex was the first time an insurance company ran a wholly online campaign for motor insurance. In essence, customers are able to access and purchase the policy anywhere.”