NCRIB, insurers make case for 24-hour claims settlement
Concerned by the poor insurance acceptance in Nigeria, stakeholders in the industry are demanding that greater investment be made in the acquisition and deployment of modern technology to achieve the payment of a 24-hour claim.
In the last three decades, insurance penetration in Nigeria has remained at a low-level owing to several factors, among which is apathy among the insuring public.
This came to the fore at a collaboration meeting with the Nigerian Council of Registered Insurance Brokers (NCRIB), Abuja Chapter, and Heirs Insurance Limited (HIL)/Heirs Life Assurance (HLA).
Presentations of both companies Ag. Managing Director/Chief Executive Officer, Heirs Insurance, Adaobi Nwakuche and Managing Director /CEO, Heirs Life Assurance, Niyi Onifade, at the forum, revealed that the new underwriters have rolled out fast claims’ payment features to support brokers and customers in dealing with the challenge.
He stressed that the new facility from both companies would revolutionise the process of claims payment in the industry.
He said: “At the core of operations are solid pillars: digital innovation, relationship with brokers and capacity building. We are happy to state that these have paid off. With technology, we can serve our customers and brokers efficiently, especially in the area of a claims settlement. We commend brokers for committing to collaborate with us to delight insurance consumers. On no account should a customer or broker go through a painful experience when it comes to payment of claims, a core responsibility of every insurance company.”