Olaotan Soyinka
Managing Director/CEO
Sovereign Trust Insurance Plc
In a bid to make insurance products and services available and affordable to a larger number of Nigerians home and abroad, Sovereign Trust Insurance Plc is set to introduce its Mobile App and USSD code to the Nigerian insurance market on November 1, 2021.
This development was made known to journalists at a media parley organised by the underwriting firm over the weekend.
The Head of Sales & Corporate Communications for Sovereign Trust Insurance Plc, Segun Bankole told newsmen that having identified technology as a veritable game changer in the insurance industry, the underwriting firm has taken the bull by the horns to latch unto the opportunities of advancing her retail products and services with the Mobile App and the USSD code.
The Executive Director and Divisional Head, Technical, Jude Modilim enumerated the benefits of the Mobile App and assured the insuring public that they are in for a good time and a memorable insurance experience within the confines of their homes anywhere in the world.
Parts of the benefits of the Mobile App include easy purchase of insurance policies such as the Third- Party Motor Insurance, the personal accident insurance cover with the acronym, SWIS-F, (Sovereign Wellbeing Insurance Scheme for the Family), marine insurance and the All-Risks Insurance Cover.
With the Mobile App, customers can easily access information on-the-go. It is an easy and faster way to submit and track customers’ claims. The Mobile App is also designed to help customers manage their insurance policies.
Customers and agents can also make use of the insurance wallet on the Mobile App while there is also the availability of pins and wallets for agents and brokers in carrying out their transactions on the Mobile App.
Other benefits include, automatic and immediate updating of records on the Nigerian Insurance Industry Database, NIID. Renewal notifications and reminders of insurance policies are also part of the unique benefits of the Mobile App.
On the other hand, the company’s USSD code *1015# needs no Internet connection or data for designated insurance transactions. The code is easy to remember and available at all times of the day. There is an in-built security to protect customers’ details.
The USSD code works with all types of mobile phones globally. It has intuitive menu with real-time interactivity and it is very economical. Its two-way communication is up to seven times faster than SMS.
The Managing Director/CEO of Sovereign Trust Insurance Plc, Olaotan Soyinka added that the two technological additions from the company are geared towards enhancing customers’ experience and ease of insurance transactions under the stable of the underwriting firm.
He further added that the company will constantly look for ways in delighting its customers both at home and in diaspora.
