Heirs Insurance, Life Reaffirm Commitment to Service Excellence

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Digital insurance companies, Heirs Insurance Limited (HIL) and Heirs Life Assurance (HLA) have affirmed their commitment to service excellence.

Speaking at a jioint media parley organised by both companies in Lagos at the weekend, their executive management stressed that digital and product innovation, financial inclusion, and service excellence were hallmark of their insurance play, offering value to all stakeholders.

The meeting was hosted by the Acting Managing Director/Chief Executive Officer, Heirs Insurance, Dr. Adaobi Nwakuche and MD/CEO, Heirs Life Assurance, Niyi Onifade, alongside their Executive Directors, Dr. Japhet Duru and Wasiu Amao respectively.

The team spoke extensively about the successes of both companies in the past five months since their launch and their ambition of digitalising and simplifying insurance.

In the area of customer service excellence, both companies aligned on being customer-centric in their approach, matching global best practices with the needs of Nigerians to guarantee customer satisfaction.
In line with this, both companies recently launched their respective websites, through which the insuring public could purchase products in mere minutes.

Claims, which is perhaps the most significant bottleneck in the industry, has also been simplified with the setup of a claims portal through which customers can lodge claims and get their claims settled in 24 hours upon receipt of documentation.

In terms of product innovation, Heirs Insurance and Heirs Life’s products are ingrained in the reality of the insuring public rolling out plans for families, businesses, entrepreneurs, couples and more to add value to the lives of Nigerians.

Both companies’ Managing Directors spoke about their stance on financial inclusion, committing to actively drive insurance education across a broad audience, as well as introducing affordable products that cost as low as N1, 000 per year.

On regulatory expectation, the companies reinforced their commitment to working in accordance with the vision set by the insurance regulatory body, NAICOM. The close association of both companies to Heirs Holdings, a renowned conglomerate with a history of success across various industries, indicates how much priority Heirs Insurance and Heirs Life place on staying in line with regulatory expectations.

“We have a couple of announcements we will be making in a few weeks that affirm these positions. We will never disappoint our customers,” Onifade said.

“Simplicity is our mantra. Secondly, if you make insurance accessible, people would buy, which is what we are doing. So, you can interact with us in different ways – mobile app, online and so on. Also, we make insurance reliable. What is most important to a customer is the payment of his or her claims, which is where reliability comes from.

“So, for a customer to rely on you and have confidence in you, you must have the financial capability. Today, I can tell everybody that Heirs Insurance is well capitalised,” he added.

According to him, everything both firms do are backed up by technology.
On her part, Nwakuche said: “Rest assured that we are taking insurance across Nigeria to the hinterlands. We are firmly committed to our mission. We know that the economy is hard and people need insurance, we are here to bridge that gap by offering products that are convenient. We want to change the face of insurance in this country, go to those places where the industry may not be able to go to, because of liquidity and capacity.”

With a paid-up share capital of N10 billion and N8 billion, respectively, HIL and HLA commenced full operations with a workforce of astute and experienced professionals and a robust financial capacity.
Top-notch Reinsurers back the companies to provide second-layer security for clients’ insurance portfolios. Both companies are subsidiaries of Heirs Holdings, a pan-African investment group with presence across twenty-three countries worldwide.