LASACO Assurance Plc has strengthened its risk management measures by creating a business services and risk management department.
The Managing Director, LASACO Assurance, Mr. Olusola Ladipo-Ajayi, said this was necessary because the firm was a major underwriter of risks of different magnitudes.
“The Business Services and Risk Management department has been constituted in addition to the improved strategic job functions in order to improve business risks, ensure customer satisfaction and strict compliance with statutory requirements,” he said.
Ladipo-Ajayi also said LASACO Assurance had become a hub to develop and retain best industry talents.
“We pride ourselves in the quality of people that permeate our workforce. Our philosophy is to entrench professionalism within our workforce, and this has been yielding immense results,” he said.
The managing director said that the firm would continue to put the people at the heart of its operations and would continue to equip and develop its employees to ensure that as individuals and collectively as a company, it maintained a leadership position in the insurance industry.
Ladipo-Ajayi said that the firms’ strategic direction would be crafted to proactively envisage the likely opportunities that were inherent in the industry and militate against possible threats that might adversely affect its operations.
LASACO, according to him, has identified information technology as a veritable tool to building a competitive edge in the industry and will continue to direct huge investment in that direction.
He added that beyond its present initiative to boost the capital base, the firm would continue to come up with more ideas aimed to drive its growth.
“We also recognise the rapid changing nature of our customers’ expectations. We are aware of the imperative of embracing innovation and sound initiatives toward meeting our customers’ needs and creating bespoke services,” he said.
The LASACO boss said the company would continue to assess its service platform to ensure that it conformed to the best in global standards and was flexible enough to meet customers’ expectation.