Ebere Nwoji
Mutual Benefit Assurance plc, said it plans to invest heavily in technological development in order to build innovative customer- Centric products that will meet the needs of its existing and potential customers and increase its market share in the current business year.
The Company said this forms part of its strategic five-year plans aimed at making the company number one insurance company in Nigeria by 2021.
Speaking at its 21st annual thanksgiving service held in Lagos, the Chairman of the company, Akin Ogunbiyi said the company has engaged the service of KPMG to chart a new focus for the company.
He said the company’s strategic aspiration was anchored on four goals namely: Be the fastest growing insurance company through innovation; be number one in customer service delivery; lead the industry in efficiency; and lead the industry into profitability.
He however acknowledged that it is going to be tough no doubt but assured that with the trust in the knowledge, professionalism and dedication of its stakeholders and staff they will be able to realise their vision of taking the company to the top of the industry in a recessed economy. He added: “This year must witness a remarkable shift in the way we do things. Our words and actions must be influenced by our strategic aspirations.”
He called on member staff to take ownership of his or her value adding role.
“There must be transparency, open enhanced teamwork, trust, effective communication and dialogue, well intentioned and conscientious execution of roles and sharper clarity.
“Let us genuinely focus and be sincerely accountable in our individual but committed contribution to the results that will engender growth and profitability. You must ask yourself ” Am i sincerely moving Mutual Benefits forward in my everyday task?”.
In 2016, the company upgraded its customer care unit with its technology driven Mutual Care to serve its customers better, adding that a team of dedicated professionals are on hand to provide seamless service to its esteemed clients.
On claims payment, as at end of 30th November 2016 paid claims in excess of N1.5billion in non life business, about N1 billion for life (death claims), in addition to about N10.6 billion paid out as maturities/ surrender under its investment/ deposit administration portfolio by its life company.
In the last 20 years the Mutual Benefits brand has continually demonstrated its commitment to honouring its obligation by consistently improving its claims administration processes and procedures.
