With strong commitments on tackling many of the challenges confronting the growth of insurance industry in Nigeria, two leading insurance companies; Heirs Insurance Limited (HIL) and Heirs Life Assurance (HLA) said that they will continue to invest heavily on technology as one of the veritable ways of improving service offering thus deepen insurance market penetration.
The duo said that expansion of the market on the back of digital channels for underwriters remains a better way to sell products and settle claims more efficiently.
Managing Director and Chief Executive Officer of Heirs Insurance Limited ,Dr. Adaobi Nwakuche who gave these assurances when she paid host to the management of Champion Newspapers Limited who paid a country visit on the companies said that the experience of Heirs Insurance and Heirs Life Assurance in deploying digital solution to insurance operations indicate that customers are willing to embrace insurance as a way of life if properly structured as to meet their everyday needs.
She affirmed that Heirs Insurance is a general insurance company challenging traditional insurance by providing simple and accessible protection for the various classes of insurance including vehicles, homes, and business premises among others.
According to her ‘’our vision is to be a global player in the insurance industry with a team of professionals who believe that there is a simpler and better way to do insurance.
‘’We want to take the center stage. We are progressive and we are excited to partner with people who are also progressive; we are committed to improving lives and transforming Nigeria and our companies are leading the digital insurance space in Nigeria and are on a mission to democratise access to insurance.
‘’We are positioned to become the leading Nigerian insurer leveraging digital tools and technology to provide simple, quick, reliable, and accessible insurance to individuals and businesses.
‘’With a paid-up share capital of N10billion, HIL underwrites all classes of general insurance business including vehicles, buildings, oil & gas, power, among others. The company is backed by top-notch Reinsurers to provide second-layer security for its clients’ insurance portfolios’’
‘’We are Africapitalists at heart and indeed. We believe that the private sector must play the lead role in the economic transformation of Nigeria. As insurers, we live this philosophy by driving financial inclusion across all levels and providing financial security, even before it is needed”, she noted
Speaking on partnering with Champion Newspapers in deepening insurance penetration in Nigeria, she said “we know that there are different media houses and journalists in the industry, we will be glad to partner with media houses that are objective and sincere in their reporting.
‘’We know that Champion Newspaper is a strong and good brand and have been there for many years notwithstanding the challenges of the time. That means there are things you are doing well. I urge you to continue doing the good things you are doing.
‘’Also, if we see solid brands that are doing well like you; who have stayed the test of time, we will be ready to partner with them. We want to remain a focused and unblemished company that is meeting the need of the people.
‘’We know when we partner with you, you will tell a better story of our company and insurance industry at large. Part of our strategy is to take insurance to every nook and cranny of the country. We are deeply concerned in deepening insurance penetration in the nation and that is why we say ‘we are democratizing insurance ‘’.
According to her ‘’our desire is to see every Nigerian have an insurance policy and we can’t do it alone. We need you to walk with us in this journey. We need partners like you to drive the insurance message to all Nigerians”.
Dr Nwakuche also called on the management of Champion Newspapers to give them good feedbacks that will enhance their internal processes and their operations saying “beyond this visit , we want you to see us as a brand you can be proud of and to relate with”.
In his own part the Managing Director and Chief Executive Officer of Heirs Life Assurance, Mr Niyi Onifade emphasized that both Heirs Insurance and Heirs Life Assurance have come to stay in the industry. He noted that they are part of Heirs Holding, a Pan-African investment group with presence across three continents and 20 African countries.
He said that the group affirms their commitment to service excellence with focus on digital and product innovation as well as financial inclusion which is the hallmark of their insurance play.
He said that Heirs Life Assurance is a leading life specialist insurance company offering simple, quick, accessible, and reliable life insurance, retirement, and children’s education protection plans while Heirs Insurance Limited is a fast-growing general insurance company redefining insurance service with innovative products for individuals and companies.
He noted that nobody can predict the future, stressing that ‘’we all wish we could, so we can live the way we really want to. With Heirs Life Assurance, we take on the risks so you can get on with your life. We go a step further by analysing trends and offering timely life-enhancing information, to put you in control.
‘’Our mission is to make insurance accessible to everyone. We believe that by making insurance easy to understand and creating relevant plans to match a variety of needs, we empower people to dream and pursue their ambition, without fear’’.
Continuing Mr Onifade said: “claims, which is possibly the most important 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 products are deep-seated 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.”
He further noted that since the company started operation in 2021, Champion have covered their activities very well. He said that Champion Newspaper needs not much introduction because they are the face of insurance industry in the nation.
He noted that Championed Insurance Day lecture series is one big event every one looks out after in the industry and challenges Champion to give it more energy ,as it is one event that gives insight to insurance issues in the country.
He affirmed that articles and features on insurance from Champion Newspapers stable is one of the sought after by stakeholders in the sector.
“Champion has been a friend of the industry and we will want to be a friend of Champion. We believe in partnership; we have digital and non-digital partnership and we will be ready to partner with the next edition of Champion Insurance Day luncheon”, Mr Onifade assures.
Earlier in her remarks, Group Managing Director and Editor-In-Chief of Champion Newspapers Dr (Mrs) Nwadiuto Iheakanwa assured of her support in sustaining the campaign on insurance penetration in the country.
According to her, “we are aware of the directive from the Federal Government to the National Insurance Commission (NAICOM) to deepen insurance penetration by making insurance companies develop new insurance products and policies. We are here to be part of the vehicle to convey that message and ensure that you partner with us in deepening the insurance conversation”.
She applauded Heirs Insurance Group for taking the bold step in making sure all Nigerians get a policy and commit to improving lives and transforming the country with their various policies.
Assuring that Champion Newspaper have been repositioned for better services, she said ‘’we wish to inform you that Daily Champion has re-positioned both in content and aesthetic for better services to its teeming readers and advertisers.
‘’We are an authoritative national brand that has been providing reliable and analytical information on local, national and international issues for over three decades. Besides, our insurance and Business Column is a must read compendium on major issues and developments in insurance and financial sector and geared towards enhancing a better society through public enlightenment on finance
