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Mutual Benefits Assurance, PZ Partner on Product Insurance


Mutual Benefits Assurance Plc has initiated a partnership with Coolworld, a subsidiary of PZ Nigeria Plc to provide Product Insurance on Coolworld products.

Mr. Akin Opeodu, Chairman of Mutual Benefits Assurance Plc, described the partnership with Coolworld as one of the ways the company is entrenching and deepening insurance business and penetration in Nigeria.

“This is a mutually beneficial relationship between the two firms and is extremely important for both. There is insurance factor in everything we do. This relationship is one of the ways that Mutual Benefits Assurance Plc is entrenching and deepening insurance in Nigeria.”

Dr. Aking Ogunbiyi, Group Managing Director/CEO of Mutual Benefits said. “This collaboration is not a new journey for us. We have made a strategic decision to deepen insurance in Nigeria and take insurance to the grassroots.

The customers of Coolworld and PZ would be happy to associate with Mutual Benefits Assurance Plc, being the Most Innovative Insurance Company in Africa. Going forward, we would extend such partnerships across West Africa.”

Explaining the details of the partnership, Mr. Segun Omosehin, Managing Director of Mutual Benefits Assurance said. “Today, we are celebrating a special marriage between two great brands. It is our way of redefining the landscape of insurance business in Nigeria to reach the common man in the street.

Mutual Benefits will provide insurance cover to all products purchased from Coolworld nationwide. We would also adopt flexible handling of claims in respect of products purchased through Coolworld.”

Mr. Kolawole Olugbenga, Commercial Director of Coolworld said. “This collaboration between Coolworld and Mutual Benefits Assurance Plc will generate value for customers. The partnership is in terms of product insurance, apart from warranty. It represents a radical change in today’s retail environment.”

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