Aiico Insurance Plc, has said that as it plans to mark its 50 years of doing insurance business in the country. It has also said it will continue to retain the brand name that it has built through good services.
In a statement on Friday, the company’s Managing Director, David Sobanjo, said the insurance company was poised to continue rendering excellent services to its customers.
Having commenced operations in 1963, he said Aiico had become a household name in Nigeria with 33 branch networks and more than 4,000 agents to ensure that the people have easy access to insurance services in all parts of the country.
Sobanjo pointed out that the recent call on members of the public who had unclaimed benefits with the insurance company to come and claim their benefits was in preparation for this 50th anniversary.
In addition to publicising the list of policyholders with unclaimed benefits in the major newspapers, he said a comprehensive list of the affected policyholders could be viewed on the company’s website.
He said, while Aiico stability, strength, security and trust over the years had placed the organisation at a better advantage in all classes of life assurance, its global affiliations had also enable the company to provide the widest range of non-life insurance solutions to its clients
To ensure its customers are not only adequately compensated but to also claims are paid as promptly as possible, Aiico boss said it maintained a first class pool of reinsurers, partners and associate companies such as Chartis Group, Healthcare International, Multishield Limited, Zurich Insurance, Munich Reinsurance, Swiss Reinsurance, Africa Reinsurance and Continental Reinsurance.
The company’s success had been the result of its ability to evaluate its potential, by setting realistic goals and taking necessary actions to achieve them, he said.
Despite the global recession witnessed in recent years, he said Aiico’s operating results had been showing impressive increases in the area of premium income, investment income and the shareholders fund.
According to the statement, analysts say this is a testament to the company’s ability to anticipate and to manage the risks associated with change.
Sobanjo said, “It is the stability of our organisation that allows us to withstand the pressure of a turbulent world.”
He said that the company had consistently been discharging its duties to the policyholders in the area of claims payment during the period under review, keeping with its promise to pay all genuine claims promptly.
The managing director said the company planned to improve product mix/portfolio to drive and capture growth opportunities, and also leverage technology to enhance cross-selling and product bundling objectives.
He maintained that Aiico would work to achieve an improved customer relationship management system; adequate product pricing based on location, claims history, among others, and create multiple payment options to reduce receivables to single digit.