STI renews commitment to cutting-edge solution creation
Managing Director/Chief Executive officer, Sovereign Trust Insurance Plc, Olaotan Soyinka
An underwriting firm, Sovereign Trust Insurance Plc, has expressed commitment to enhancing the everyday life of policyholders while creating exceptional value for shareholders.
Managing Director/Chief Executive Officer of the Company, Olaotan Soyinka, disclosed this at the inauguration of the new executive members of the National Association of Insurance and Pension Correspondents (NAIPCO) in Lagos.
Soyinka said the underwriter was committed to innovative products and services that would improve the lives of customers even as it has created an enhanced Third Party Motor insurance policy for the insuring public.
Soyinka, who was represented by Deputy General Manager, Sales and Corporate Communications, Segun Bankole, said “the plan is to enhance the everyday life of customers through innovative insurance and financial services and the creation of exceptional value for shareholders.
“As an organisation, we have been driven by vision and mission and that attest to the fact that some of the profitable oil and gas businesses in the country. We can beat our chest that we are one of the proud underwriters in that regard.”
On the enhanced Third Party Motor insurance, Soyinka said: “In terms of innovation, we have the product called the enhanced Third Party Motor insurance. We taught of the usual third party whereby when a claim occurs; it is only the third party that gets the benefit of having his or her vehicle repaired. But with our enhanced third party, which is just N7, 500 per annum, you have the third party being insured in case of any damage to the tune of N1 million and the insured himself or herself has that limit of liability up to the tune of N500,000.”
