AIICO Launches Financial Protection for Farmers, Rural Dwellers

Ebere Nwoji

AIICO Insurance Plc, said it has  launched its latest  product for farmers and rural dwellers – AIICO All-in-One Financial Protection.

The company said the product was a bundled insurance solution designed to address the longstanding financial vulnerabilities faced by Nigeria’s smallholder farmers, rural families, and underserved populations. 

The product unveiling took place in Lagos recently after an extensive countrywide engagement tour across Ibadan, Kano, and Calabar.

Speaking at the launch AIICO’s Managing Director/CEO, Mr. Babatunde Fajemirokun, explained that launching of the product this time was informed by the fact that for decades, millions of hardworking Nigerians in the informal sector; market traders, smallholder farmers, artisans, transporters, and micro-entrepreneurs have remained exposed to huge financial shocks. 

“A single illness, accident or emergency can erode years of savings, destabilise households, and push families deeper into poverty. Without structured retirement support, many also face the risk of hardship after their active working years”, he observed.

He said AIICO’s All-in-One Financial Protection was a direct response to these socio-economic realities. 

According to the AIICO boss, supported by AIICO’s international partners, LeapFrog Investments (UK) and the European Investment Bank (EIB), the solution brings together three essential covers in one accessible, affordable package.

These include Personal Accident Insurance which provides compensation for accidental injury, permanent disability, or death.