Underwriter, real estate firm seal pact on policy penetration
Old Mutual Limited has renewed efforts to deepen insurance in Nigeria, through a strategic partnership with Newhomes.ng, an innovative online real estate market hub, on digital insurance products.
The underwriter noted that the collaboration serves as an opportunity for it to provide insurance protection for property owners and homeowners.
The Executive Head, Marketing and Customer Experience, Old Mutual, Alero Ladipo, explained that the company would, through the newhomes.ng platform, provide Premium Home Insurance package to existing and prospective property owners.
The with benefits, he said, include building fire and peril, household goods and personal belonging, burglary, fire, alternative accommodation cost in the event of home loss, personal accident cover and personal liability cover.
“This partnership signals strong commitment to Nigeria and her growing industries such as the real estate markets.As Nigerians invest their hard earned monies and investments in bridging the huge supply gap in the provision of housing for the citizens, it is imperative to recognise the risks that threaten these investments and put a financial protection plan in place. This is where Old Mutual comes in.
“We have taken it upon ourselves, as insurers with over 170 years of experience, to enter into this exclusive partnership with Newhomes.ng, to provide innovative technology led solutions aimed at delivering the right insurance services for homeowners in Nigeria and at the same time bridging the gap of access to basic financial insurance.
“Our partnership with Newhomes.ng provides the customers (whether individuals, investors or corporates) can access an array of property and home insurance products at just a click from a mobile device or computer.”
“In other words, from the Newhomes.ng platform, Nigerians would be able to calculate their premium in seconds, complete seamless transaction end to end and obtain their policy certificate, all from the comfort of their homes or offices,” she said.
Chairman of Afreal Limited, promoters of Newhomes.ng, Prof. Chris Ogbeche, said the digital platform gives everyone access to owing a home, stressing that the real estate sector before now has been slow in adopting technology, but Newhomes.ng has come to revolutionized the industry.
He maintained that the digital platform is the first of its kind in Nigeria, whilst urging the public to leverage the platform to access their dreamed homes.
The Managing Director of Afreal Limited, Maurice Okoli, said the platform was designed to bridge the gap between real estate developers and prospective home seekers, adding that the firm would tackle awareness issues through technology and that with the platform the issue of liquidity is being solved.
He maintained that the firm is determined to grow home ownership in Nigeria and that the platform has zoro per cent cost for users.