With insurance penetration in Nigeria remaining low, Linkage Assurance is targeting the country’s growing diaspora market with DiasporaCare+, a new insurance solution designed to extend protection to Nigerians living abroad who own homes, vehicles and other assets, or have family and financial interests in the country.

The initiative is part of the insurer’s strategy to deepen insurance penetration by developing products around emerging customer segments, particularly Nigerians in the diaspora who continue to maintain significant family, property and financial interests in the country.

Speaking at the forum at the weekend, the Managing Director/Chief Executive Officer, Linkage Assurance, Daniel Braie, said DiasporaCare+ was designed to give Nigerians abroad greater confidence that the people and assets they care about at home are adequately protected.

According to him, the product represents the company’s effort to extend insurance services beyond geographical boundaries while addressing the evolving needs of its customers.

“DiasporaCare+ is about giving Nigerians abroad greater confidence that the people and interests they care about at home can have access to meaningful insurance protection. We are extending the value of insurance beyond geographical boundaries and providing a dependable bridge between the diaspora community and home,” Braie said.

The new product combines four areas of insurance protection covering travel, home, automobiles and holiday-related injuries.

Under Diaspora Travel Insurance, policyholders can access cover for the repatriation of mortal remains to Nigeria, while Diaspora Home Protection provides cover against fire and special perils, burglary and housebreaking, as well as personal accident and liability risks.

The Diaspora Auto Insurance component provides comprehensive, restricted, third-party and third-party-plus options, while Diaspora Holiday Injury Insurance covers accidental bodily injuries and tropical illnesses.

The company said the product was developed in response to the continued economic and social ties between Nigerians abroad and their families, properties and other interests in the country.