STACO Insurance Partners Paysack


STACO Insurance Plc said it has embarked on a strategic partnership with Paystack, an online payment high-tech company. Paystack is a technology outfit solving payment problem for ambitious business ventures with a mission to help business become more profitable while making it easy for business to accept secure payments from multiple online channels.

The company, said the strategic alliance with Paystack would enable its numerous customers transact business and pay for insurance premium at the comfort of their homes or offices, adding that this was a testament to STACO’s strategic objectives of adding value to customers’ needs particularly in the area of payment and extending the penetration of insurance services so as to enhance the fulfilment of the company’s vision of providing a world class insurance.

The company, said it has already secured the approval of the National Insurance Commission to deploy e-platform portal for the purchase of third party Motor and Personal Protection Plan (PPP) Insurance policies.

STACO Insurance Head Corporate Communications, Dr Tunde Odeyemi, said the new e-platform portal was a web-based transactions solution that operates 24-hours round the clock payment system and utilises an automated insurance online real time service technology platform.

According to him, the portal enables ease of business transaction, offers convenience, speed and seamless method of payment of premium by the company’s clients especially for third party motor insurance, personal protection plan and other Insurance products.

He added that the solution has the feature of issuing digitalised receipts for payments without exposing the customers to cyber risks.

“The introduction of the transaction and e-payment platform into the Nigerian Insurance market is in line with the company’s commitment to boost exceptional customer experience and reduce turnaround time for customer service delivery, while responding to the technological needs of the sector,” Odeyemi stated.