Insurers anchor N300m rebranding project on prompt claims settlement

Matthew Otoijagha

Insurance operators have pledged to leverage settlement of genuine claims to drive the industry’s rebranding initiative.

The operators made the pledge at the launch of the N300 million rebranding project in Lagos. Speaking at the event, the Chairman Sub Committee on Publicity and Communication, Insuers Committee, Hassan Oye-Odukale, said prompt settlement of claims remains the best advertisement for the industry, stressing that the operators would ensure that companies observe their claims responsibilities.

 He said the industry over the years has been paying claims, adding that many organisations that were affected by disasters were revived by claims received from insurance companies. He urged the public to leverage insurance to keep their businesses afoot. According to him, the nation cannot develop without a strong insurance industry.

 Odukale posited that insurance firms are set to deepen insurance at the grassroots though deployment of retail products. He called on small and medium enterprises owners to take advantage of insurance to keep their businesses going.

 The Director-General, Nigerian Insurers Association (NIA) Mrs. Yetunde Ilori, urged the public to take advantage of conflict resolutions bodies set up by the industry to resolve all unpaid claims issues.

She noted that the NIA in a bid to ensure the public are not denied claims, set up a complaints bureau, which is headed by a retired Judge. In the vain same, she said the National Insurance Commission (NAICOM) also has a bureau for settlement of claims disputes.

 She said operators will continue to talk to themselves to ensure no member renege on honoring genuine claims. To promote the project, NAICOM has contributed N40 while most companies have also made their contributions towards the initiative.

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