Modupe Gbadeyanka
By Modupe Gbadeyanka
There is no doubt that insurance penetration in Nigeria is low and this is why various stakeholders in the sector are doing everything possible to make things better.
Recently, the foremost life insurer, African Alliance Insurance Plc, joined others to take the gospel of insurance to the grassroots through an Insurance Awareness Walk in Abuja.
The walk for insurance was held in partnership with the Nigerian Council of Registered Insurance Brokers (NCRIB) and had in attendance the President of the Council of NCRIB, Mr Rotimi Edu; the NCRIB Abuja Area Committee Chairman, Mr Abass Owolabi; the Managing Director/Chief Executive Officer of African Alliance Insurance Plc, Mrs Joyce Ojemudia, amongst others.
While sensitizing those at Jabi about the benefits of insurance, Mr Edu urged them to look beyond today and safeguard the future of their loved ones in the case of eventualities.
In her speech, Mrs Ojemudia pointed out that, unlike the general perception, insurance is not for the rich or the wealthy.
“All those small small change you spend daily can help you build a financially free tomorrow. You all know about Esusu, for example; at African Alliance Insurance PLC, we have a plan so named that not only helps you make your contributions periodically but offers a life cover in case anything happens,” she added.
Responding, a representative of the park, Comrade Taiwo Oshobu, thanked the AAI/NCRIB contingent for the eye-opening session and charged the Union members to heed the pieces of advice and take up insurance plans as a contingency for life.
Later in the evening, the African Alliance team hosted the Members Evening of the Abuja Area Committee of the NCRIB.
There, the company’s giant strides in terms of claims payment, digital expansion as well as overall capacity building were brought to the fore.
As at March 20, 2022, Mrs Ojemudia in her speech revealed that a total of N1.96 billion had been paid in claims.
“Recall that we had paid N1.42 billion in the first two months of the year, this means we have paid an estimated N540 million more in just 20 days in the month of March!
“The breakdown is as follows: we paid N373.59 million in Group Life claims; N291.07 million in Individual Life claims; N200.27 million in Takaful claims; Esusu N11.25 million while Annuity was N1.08 billion,” she concluded.
