Great Nigeria Insurance Pays N0.7bn Claims


Ebere Nwoji

Great Nigeria Insurance Plc, a composite underwriting firm with branches in different parts of the country has said it paid a total of N0.7 billion claims to its clients between January and June 2016.

The company said in a statement made available to THISDAY that the above claims emanated from both life and general business under its portfolio.

The Chief Technical Officer of the company, Mr. Folusho Alliyu, said a breakdown of this shows that claims from General Business accounted for over 19% of the figure, while claims from life insurance business, constituted about 80% of the total claims settled within the period under review.

Alliyu, said the company’s affirmed commitment towards claims settlement, is the reason for its continued existence adding that management regards claims settlement as obligation to the insured.

“Prompt claims settlement is not just an attribute but a culture that has been adopted by all personnel in Great Nigeria Insurance Plc; we do not intend to fall short of this obligation and we will continually strive to make good our promise of exceptional service delivery at every point in time”.

He encouraged Nigerians to imbibe Insurance culture as a vital part of their daily existence.
Also speaking, Managing Director/CEO, of Great Nigeria Insurance Plc, Mrs. Cecilia O. Osipitan said that insurance works on the promise to pay compensation for any insured in the course of any eventuality. She urged all policy holders to ensure immediate report of any loss experienced to the company to facilitate prompt settlement. She further added that Great Nigeria Insurance Plc has overtime upgraded its processes and information technology infrastructure having realised that improved real time and cutting-edge technology in pushing the frontiers of its operations cannot be undermined.

Mrs. Osipitan, stated that the company has put in place a responsive claim process which ensures that customers do not go through any stress in getting their claims settled.
“The processes involved from the moment a claim is reported to the period the customer receives the cheque have been made as seamless as possible”.

She added that it is almost impossible for any genuine claim not to be paid.
Great Nigeria Insurance Plc continues to stay true to its vision of being the insurance company of choice for keeping promises to stakeholders by providing world class insurance services through prompt claims settlement, superior customer service as well as exceptional service delivery. Great Nigeria Insurance Plc is poised to become the best underwriting firm in the country in the nearest future.

AIICO Pensions Marks 10th Year Anniversary
AIICO Pension Managers Limited (APML), a subsidiary of AIICO Insurance Plc, recently celebrated its 10th anniversary with a determination to fulfill its vision to be the most efficient customer-focused organisation in the Pension industry.
The company, also at the event unveiled what it tagged: ‘a brand ambassador’ as well as launched its Corporate Social Responsibility project.

APML, which was licensed by the National Pension Commission in April 2006, commenced operations in May of the same year, with a vision to be the most efficient customer-focused organisation in the Pension industry has since inception, continued to add value to the growing Pension industry through its various public enlightenment programmes aimed at sensitising the general public to the need for Nigerian workers to commence a pension plan from their first day of employment, in order to live a good life in retirement.

The company, recently, made a giant stride in pursuit of its vision realisation by signing a partnership deal with Ms. Joke Silva, an actress, producer and TV personality, as a Brand Ambassador.

Speaking on the deal, Mr. Tunde Ottun, Head Strategic Planning and Corporate Communications AIICO pensions unit, said that the strategic partnership in addition to promoting the AIICO Pension brand, will greatly improve on public acceptance of retirement planning and pension in general.
“Our decision to partner with a brand ambassador was also predicated on the need to infuse ‘colour’ to the ongoing discussions around retirement planning, in order to capture public appeal minds.

“We have no doubt that she will be a perfect fit and we are glad she accepted to partner with our company on our quest to secure the inclusion of more Nigerians under the Contributory Pension Scheme, especially in the drive to expand pension coverage to the informal sector”

Meanwhile, the management of AIICO Pension Managers Limited, has said that as a way of giving back to the society, it has undertaken some renovation work at the Old People’s Home Yaba Lagos. This it said has also formed part of the activities to commemorate the company’s 10th year anniversary. In attendance at the unveiling ceremony were the brand ambassador, Ms. Joke Silva and the Director General of the Lagos State Pension Commission, Mrs. Folashade Onanuga.

The company said it has chosen to celebrate the occasion of the anniversary with senior citizens therefore has chosen to identify with an Old People’s Home, undertake selected projects on their wish list and celebrate with them at the unveiling ceremony.

It commended the Lagos State Government through the Ministry of Youth & Social Development for the wonderful job that is being done in taking care of the residents.
“They are well looked after and the environment is very conducive. More power to their elbows”, it observed..

AIICO Pension Managers Limited has a portfolio of over 200,000 Retirement Savings Account holders. With funds under management in excess of N68 billion, APML continues to produce superior investment performance results that have in turn created value for its clients’ investments, through a disciplined investment philosophy, streamlined investment processes and specialist investment professionals. APML, has made strategic decisions to deploy robust technology solutions throughout its extensive nationwide branch network to provide quality service delivery and prides itself as the most efficient customer-focused PFA in the country.