Leadway Assurance Company Ltd has signed partnership agreement with Total Nigeria Plc, a major marketer of refined petroleum products and services in Nigeria to deepen insurance penetration in the country.
The Memorandum of Understanding to that effect was signed by their Chief Executive officers namely- Mr. Oye Hassan-Odukale (Leadway) and Mr. Jean-Philippe Torres (Total).
Under the agreement, insurance policy products of Leadway Assurance would be made available in some designated Total’s service stations across the country.
Speaking during the signing, Leadway Assurance Executive Director General Business, Adetola Adegbayi, who represented the company’s managing director, said in the first phase of the initiative, Leadway’s easy-to-use 3rd Party Motor Vehicle insurance recharge cards will go on sale at the designated outlets of Total filling stations nationwide.
She said subsequently, these filling stations will not only be used as pick up centers for Leadway Assurance products, they will thereafter serve as collation centers for all insurance related issues such as claims processing.
She said as an innovation-driven market leader in the Nigeria’s insurance market, Leadway is constantly seeking ways to make insurance products and services nearer, easily accessible and more convenient for its customers. She said the company has developed an online infrastructure to provide real-time, online access and interaction for its clients.
The partnership with Total, reinforces the company’s quest to further take insurance closer to Nigerians, whilst affirming its commitment to superior service delivery.
She said with the partnership, Leadway customers, who are also consumers of Total’s array of products and services would reduce their commuting time and cost to procure high value insurance products such as the motor insurance, at a single location.
She noted that the Nigerian insurance industry has been characterised by low market penetration and adoption resulting in the industry contributing less than 1 percent to the nation’s Gross Domestic Product (GDP).
She said the Total/Leadway partnership encourages better accessibility, proximity and ease of business, adding that it consequently reinforces standards and fosters more trust in the Nigerian insurance industry as a whole and positions Leadway Assurance as a reliable insurer.
According to her, Leadway Assurance is leveraging on Total’s wide retail network to reach out to motorists in particular and many more customers in remote areas where Total service stations are located, thereby bringing insurance closer to customers no matter their location.
Also speaking at the event, Torres said: “We are proud of the partnership with Leadway Assurance, a dynamic organisation, who shares our values of integrity, innovation, and superior service delivery. This is an association of caring brands.”
He said with the partnership, Total’s outlets will become the first in oil industry to have insurance products and services offered at the convenience of its customers from its service stations.
Torres said Total has continued to expand its service operations beyond selling petroleum products by diversifying activities to include other value offerings for customers such as bonjour for groceries shopping , Total Wash for car cleaning as well as Total service for car repairs and maintenance.
He said the partnership with Leadway Assurance further illustrates Total service stations as Nigeria’s leading one-stop service stations for everything that enriches the lives of its dear customers.