Thursday, August 21, 2025
23.1 C
Lagos

Great Nigeria Insurance Settles N700m Claims in 6 Months

Great Nigeria Insurance Plc, one of the foremost composite underwriting firms in the country has again shown avowed commitment towards prompt claims settlement. The insurance company recently released its claims record detailing total claims paid between January and June 2016.

According to a statement from the company, over N0.7 billion was paid out in claims settlement in six months. General Business accounted for over 19% of this figure while Life insurance business constituted about 80% of the total claims settled within the period under review.

While commenting on the Claims report, the Chief Technical Officer, Mr. Folusho Alliyu stressed the Company’s affirmed commitment towards claims settlement. He equally mentioned that the continuous existence of any underwriting firm depends largely on its ability to fulfil its obligation to its customers as and when due.

In his words: “Prompt claims settlement is not just an attribute but a culture that has been adopted by all personnel in Great Nigeria Insurance Plc; we do not intend to fall short of this obligation and we will continually strive to make good our promise of exceptional service delivery at every point in time”. Finally, he encouraged Nigerians to imbibe the Insurance culture as a vital part of their daily existence.

Also lending her voice, the Managing Director/CEO, Mrs. Cecilia O. Osipitan said that insurance works on the promise to pay compensation for any insured in the course of any eventuality. She urged all policy holders to ensure the immediate report of any loss experienced to the company to facilitate prompt settlement.

She further mentioned that Great Nigeria Insurance Plc has overtime upgraded on its processes and Information Technology infrastructure having realised that improved real time and cutting-edge technology in pushing the frontiers of its operations cannot be undermined.

Mrs. Osipitan stated that the company has in place a responsive claim process which ensures that customers do not go through any stress in getting their claims settled.

“The processes involved from the moment a claim is reported to the period the customer receives the cheque have been made as seamless as possible.”

She said that it is almost impossible for any genuine claim not to be paid.

Great Nigeria Insurance Plc continues to stay true to its vision of being the insurance company of choice for keeping promises to stakeholders by providing world class insurance services through prompt claims settlement, superior customer service as well as exceptional service delivery.

Great Nigeria Insurance Plc is poised to become the best underwriting firm in the country in the nearest future.

spot_img
spot_img

Hot this week

Stanbic IBTC Insurance Hosts 2nd Annuitant Forum on Life in Retirement

Retirement is often viewed as a new beginning, an...

NAICOM, Police Begin Crackdown Against Sale of Fake Insurance Policies

The National Insurance Commission (NAICOM) has launched a crackdown...

T2 Unveils Nigeria’s First Electronic KYC SIM Registration Web App

 T2 proudly announces the launch of its revolutionary electronic...

NAICOM, SEC Initiates Partnership to Drive Insurance Sector Reforms

The Commissioner for Insurance, Mr. Olusegun Ayo Omosehin paid...

How Power Outages Threaten Nigeria’s Digital Economy Dream

By Elvis Eromosele Recently, I found myself inside a multi-storied...

Topics

HEREL: Redefining Living Experiences in Nigeria via Development

On Sunday, 29th May 2022, Real Estate and Hospitality...

Nigeria Must Rethink Forex Policy to Spur Investment

There is need for Nigeria to seriously rethink her Forex policy to spur investment and quicker economic recovery. At the same time, the country recorded growth of only 3.96% y/y in Q1, 2015, down from 5.9% in Q4-2014, according to Razia Khan, Economist at Standard Chartered Bank, London. She said Nigeria’s oil sector contracted by 8% y/y in Q1, following growth of 1% in the previous quarter. “Decelerating growth was seen across most sectors in Q1, with the exception of crop production. Q2 growth may be slower still, reflecting a slowdown in activity around the elections, and the transition to a new government.”

NCC Reports 97% Readiness Level for 5G Deployment in Nigeria

The Nigerian Communications Commission’s (NCC’s) plan for Fifth Generation...

‘Africa Must Invest in Agriculture Research’

Speech Delivered by President Akinwumi Adesina of the African...

African Airlines Record 7.4% Passenger Growth in Qtr 2

The International Air Transport Association (IATA) announced global passenger...

NCC, CBN, Polaris Bank, NAICOM, NEM for Business Journal Presentation Sept 16

The Nigerian Communications Commission (NCC), Central Bank of Nigeria...

Rex Insurance Unveils Digital Platforms to Drive Motor Insurance Business

Rex Insurance Limited has unveiled new digital platforms designed...

Orange Corners Nigeria Secures Financial Sponsorship from Stanbic IBTC

(From L-R: Michel Deelen, Consul General, Kingdom of the...
spot_img

Related Articles

Popular Categories

spot_imgspot_img