Leadway, Total Sign Third Party Motor Insurance Deal
By Dipo Olowookere
A Memorandum of Understanding (MoU) has been sealed between Leadway Assurance Company Limited and Total Nigeria Plc to sell third party motor vehicle insurance to the general public in some designated Total service stations across the country.
The deal was signed in Lagos where the Executive Director, General Business, Leadway Assurance, Ms Adetola Adegbayi represented the Managing Director, Oye Hassan-Odukale and the Territorial Sales Manager (North), Total Nigeria Plc- Muftau Balogun represented the Managing Director, Total Nigeria Plc, Jean-Philippe Torres in Lagos.
According to Ms Adegbayi, the agreement allows Leadway’s insurance products and services to be made available in some designated Total service stations across the country starting with 20 stations in Lagos.
She stated that Leadway’s easy-to-use third party motor vehicle insurance recharge cards will not only be used as pick up centres for Leadway Assurance products but would also serve as collation centres for all insurance related issues such as claims processing.
Leadway’s Executive Director, Finance and Systems Tunde Hassan-Odukale said as an innovation-driven market leader in the insurance industry, they are constantly seeking ways to make insurance products and services nearer, easily accessible and more convenient to customers.
He added that they have developed their online infrastructure to provide real-time, online access and interaction for their clients.
He said: “The partnership with Total reinforces that quest to further take insurance closer to Nigerians whilst affirming our commitment to superior service delivery. Indeed, with this partnership, our 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. The Nigerian insurance industry has been characterised by low market penetration and adoption resulting in the industry contributing less than one per cent to the nation’s Gross Domestic Product (GDP).
Territorial Sales Manager (North), Total Nigeria Plc Muftau Balogun 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.
“With this partnership, our outlets will become the first in our industry to have insurance products and services offered at the convenience of our customers from our service stations, he added.