Insurers move to tackle COVID-19 impacts via research funding

Operators in the nation’s insurance industry have revealed plans to address the impact of COVID-19 pandemic through research funding geared toward curtailing the spread of the disease across the continents.

The Chief Executive Officer, AXA Group, Thomas Buberl, who spoke to The Guardian at the weekend in a telephone interview said, it has earmarked fresh €5 million as part of philanthropic research funding to get rid of the COVID-19 pandemic in the world.

Buberl, said: “At a time when intensive care units around the world are under increasing pressure, we partnered with Fund 101, an organisation that federates more than 1,200 intensive care units across 60 countries, to share and accelerate improvements in therapeutic protocols.”

He said in France, he purchased two million masks, which was given to the medical system whilst also helping health workers by financing their meals.

He said in addition, the group has gone a step further in its commitment with 101 Fund by initiating a global solidarity challenge, tagged AXA Solidarity Response, with its employees to support 1,200 intensive care units in 60 countries including Nigeria.

According to him, the challenge campaign, which started from April 7th to June 30th, 2020, would give each the employee the opportunity to generate a donation of 5 Euros, financed by the company, to 101 Fund by publishing a solidarity message on their personal Twitter or LinkedIn or Instagram account, enabling them to also act.

Buberl said, “The world is going through a crisis that will stand in the collective memory. In an unstable environment, the economic and social emergency, by ensuring the continuity of a business that is essential to society.

He said the firm has aligned with the group’s resolve to see the COVID-19 pandemic eradicated with its donation of Personal Protective Equipment (PPE) worth millions of Naira to the Lagos State Government, others.

College of Medicine & University College Hospital, Ibadan (UCH) and Nigeria Centre for Disease Control at the Federal Capital Territory (FCT) Abuja, adding that the company has meaningfully responded to the fight against the disease, has also donated life insurance cover for 100 medical professionals across Lagos, Abuja and Ibadan.

Speaking in the same vein in the industry, the Chief Customer and Marketing Officer, Jumoke Odunlami, said, since the outbreak of the COVID-19 pandemic, AXA has been at the forefront of educating its customers and community about the precautions to take.

The Chairman, Nigerian Insurers Association (NIA), Tope Smart, who also spoke on the issue said they were happy that for the first time, their role is being appreciated.

He stated that the recognition will further spur them to do more and sector will always play major roles in the economy but this is the first time they are getting a presidential recognition.

He said they look forward to more partnership with the Federal Government in developing the country.

The Nigerian Insurance Industry supported the Federal Government by providing N11 billion life insurance cover to the frontline health workers employed in the fight against COVID-19.

According to the Commissioner for Insurance, Sunday Thomas, the cover will enable families or named beneficiary of any medical doctor that dies in the line of duty to claim N3 million; Pharmacists/Nurses N2 million and others N1 million.