Oluyemi: UnityKapital Assurance in Excellent Health Condition


Ebere Nwoji

The New Managing Director, UnityKapital Assurance Plc, Mr. Olatunji Oluyemi, has said that his company is in excellent health condition as certified by the Director of Accounts National Insurance Commission(NAICOM).

Oluyemi, however said his mandate as the new helmsman of the company is to take it to a position of bigger financial strength.

He stated this in Lagos at a press briefing organised by the company.
According to him, the Abuja- based UnityKapital Assurance, maintains N10,728,219,00 total assets with only N1,344,359,00 liabilities and N9,383,860,000shareholders’ fund.

The company’s 2015 audited financial statement showed that gross premium income for the period stood at N2,684,534,000,while its gross premium written stood at N2,651,717,000.

UnityKapital, between January and mid November this year paid a total of 597 million claims.
To expand its clientele base and deepen insurance penetration using its robust capital, Oluyemi, said UnityKapital Assurance is working out plans to employ the use of electronic sales initiative is its product distributions.

According to him, the company is currently acquiring skills to use the electronic sales technique to go into direct product distributions.

He also said the underwriting firm is currently upgrading its online IT set and is also searching out plans on how to grow from small to medium size firm and remain stronger.
He said currently, UnityKapital Assurance is a strong company with national presence and is aspiring to be prominently visible in both corporate and micro market levels.

The company currently maintains 16 operational locations round the country.
He said though insurance industry like every other sector of the economy in 2016 business year waded through very rough terrain, UnityKapital like one of the successful firms has kept its head above the waters.

He said the company is entering the year 2017 with readiness as he assured clients and brokers that good customer service delivery is topmost in the company’s business agenda.
According to Oluyemi, Unitykapital Assurance is currently reviewing its processes, operations and systems to deliver speedy and efficient service while ensuring that all promises of the company contained in the insurance policies it issues are fulfilled.
“We are actively re-examining our processes, operations and systems to ensure that we deliver speedy and efficient services while ensuring that we fulfil every promise contained in a UnityKapital Insurance Policy.”

CWG Restates Commitment to Support SMEs Growth

Computer Warehouse Group (CWG) Plc has restated its determination to continue to provide cutting edge technology solutions that are helping the Small & Medium Enterprises (SMEs) in Nigeria to grow.
The company said the SMEs segment is the backbone of the Nigerian economy, as it accounts for about 50 per cent of employment drive in the country, and so there is need to build technology platforms that enable them manage their business operations efficiently and ultimately, create more jobs.

Business Director for Telco, CWG, Mr. Adewale Adewipo said: “At CWG, we are passionate about the progress of the SMEs segment. That is why we provide solutions that can boost their operations. We have solutions that we are using to contribute to SME inclusiveness and the growth of the economy.”
Adewipo explained that what is more instructive is that CWG has a cloud e-commerce product, tagged ‘SMERP’, which can support SMEs with online sales with integrated logistics and payment systems.
“The idea is that with this empowerment, if the over 34 million SMEs in the country, according to the Federal Ministry of Industry, Trade & Investment, grow to the extent where they employ one more person each, that translates to 34 million additional jobs,” he said.

The CWG director noted that the challenge for the majority of the SMEs in Nigeria is that they don’t have the book keeping records / data, which the banks will request for to support their credit-worthiness.

“But with CWG’s ERP (Enterprise Resource Planning) software in the cloud that tracks their inventory, sales and balances their books at the end of every day, the SMEs can easily boast of the required data and statistics that the banks can use to advance them capital for further growth,” he said.
Adewipo added that if for instance, any of the SMEs has five shops, the proprietor can monitor these five shops from a mobile device, without having to physically visit each shop to know how they are doing.

He said for Nigeria to reach its full potential in terms of economic and social development, it cannot afford to ignore the importance of its indigenous SMEs and the contributions that they make to the country’s overall economic growth. He stressed that CWG understands the role technology plays in being an enabler for growth and thus there is no better time for SMEs to leverage on solutions like SMERP, which the company has put out for free at this time.