An underwriting firm, Universal Insurance, has approached the Nigerian Council of Registered Insurance Brokers (NCRIB) for support in deepening insurance penetration in the country.
The insurer is also seeking collaboration among brokerage firms to offer tailored products and services to Nigerians to increase the bottom line at the end of the 2024 financial year.
The firm sought support at the Brokers’ Evening held in Lagos, with the Managing Director/Chief Executive Officer, Universal Insurance, Dr Ben Ujoatuonu, saying the company would not have realised its financial position without NCRIB.
Ujoatuonu said that the firm is planning to expand its visibility across the country, with plans to pay genuine claims to policyholders as and when due in fulfillment of its promise.
“We will continue to grow our tempo in claims settlement. We can do better this year. We are expanding our offices; another branch is coming in Lagos,” he said.
He added: “As one of the very few digitally-compliant companies in the market, we have available portals for customers and brokers to access products, and lodge claims all from the comfort of their home or office. We have applications that are very compliant and friendly, especially in compliance with the latest Web Aggregators guidelines.”
Hosted by the underwriter, the session saw over 100 insurance brokerage companies endorsing Universal Insurance as the insurer to partner with given its ability to digitise its operations and offer excellent services.
Also speaking at the forum, the NCRIB President, Babatunde Oguntade, said for the industry to contribute immensely to the economy and reposition the market, there is a need to promote collaboration between insurance operators and brokers.
