Saturday, July 20, 2024
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Universal, Guinea, Norrenberger Excite Stakeholders With Innovative Products, Excellent Service Delivery

Poised to increase insurance uptake and deepen insurance penetration in Nigeria, insurers are creating value for stakeholders through innovative products and excellent service delivery.
Some of the companies known for prioritising innovative products and excellent service delivery include Universal Insurance Plc, Guinea Insurance Plc and Norrenberger Group.
Today one of the Universal Insurance products, ‘Keke PASS’, is receiving commendations across the country by Keke owners.
Speaking during the launch of the product in Aba, the Managing Director/ CEO, Universal Insurance, Mr. Benedict Ujoatuonu, said the product became necessary because conventional insurance products do not take into account the peculiarities of ordinary Nigerians.
Ujoatuonu said: “Keke Pass is Keke Passenger Assurance Safety Scheme and it is intended to provide some personal accident cover for the riders and their passengers in terms of injury, death and third-party liability while riding their Keke. Beyond the unique benefits this product provides for the riders, it makes it affordable because it is cheaper.
“It is also very flexible. This is because we are dealing with people in the lower cadre. The product is technologically driven, end-to-end, and sold via an electronic platform. With your mobile device, you can have access to it.’
The Tricycle Owners Association of Nigeria (TOAN) and Aba Tricycle Riders Integrated Welfare Association (ATRIWA) commended Universal Insurance for launching the product in Aba.
Guinea Insurance, among other lines of products, offers both Third-Party Motor Insurance and Comprehensive Motor Insurance. The third-party Motor Insurance covers third parties who are affected by an accident only, while the Comprehensive variant covers both the insured and third parties affected by an accident.
Third-party motor insurance is one of the six compulsory insurances stipulated by the Insurance Act 2003 which guides insurance operations in Nigeria. It represents the legal minimum level of motor insurance cover any motor vehicle or Tricycle owner should have to qualify to ply Nigerian roads and stipulates compensation to accident victims.
Guinea Insurance’s comprehensive motor insurance provides cover for loss of or damage to the motor car resulting from accidental collision or overturning,  loss or damage resulting from fire or theft and unlimited liability for death/bodily injury to third parties.
The Company offers  a discount on the premium payable for every policy and Free Tracking device installation subject to the value of the vehicle as additional incentives.
In a bid to ensure seamless transactions and enhance customers’ experience, Guinea Insurance, a foremost risk management solution provider in Nigeria has launched a revolutionary self-service motor insurance e-portal that allows customers to purchase motor insurance products in less than two minutes.
The Managing Director, Guinea Insurance, Ademola Abidogun, said that the motor insurance portal was launched to provide the insuring public with unlimited access to make real-time purchases from anywhere and whenever they needed to.
According to him, the portal gives customers the freedom to buy authentic and reliable motor insurance policies without any geographical barrier; insofar as the vehicle is within the Nigerian land borders.
“As it stands today, consumer behaviour is undeniably shifting and favouring effortlessness more than before, whether by simply engaging with a business quickly and conveniently or by easily accessing the most relevant information to meet their individual needs. Our customers nationwide would be able to choose and make informed decisions to purchase motor insurance products that best suit their insurance needs.”
Norrenberger Group, apart from its existing products such as Engineering Insurance, Bonds, General Accident Insurance, Fire and Special Perils, Motor Insurance, and Marine Insurance, the Group is developing insurance products that will enhance and support climate change in all ramifications.
The Managing Director/CEO, International Energy Insurance (IEI) Plc (A subsidiary of Norrenberger Group), Mr. Olasupo Sogelola, speaking on the sideline of the just concluded 50th Conference and Annual General Assembly of the African Insurance Organisation (AIO) with the theme “Coping With Rising Natural Catastrophes In Africa” held in Windhoek, Namibia, said insurance has to move towards supporting climate change, starting from the impact of climate change especially on agricultural products in Nigeria.
Sogelola said IEI is developing products to enhance and support climate change in all ramifications. “For us at IEI, we are developing products to enhance and support climate change in all ramifications.
The three companies are known for best-in-class service delivery.



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