By Abibat Aliu
An underwriting firm, AllCO Insurance Plc has been engaged by Air Peace to provide insurance risk for passengers to end domestic travelers’unpleasant experiences.
The product is for the personal benefits of the air passengers that automatically opts them in on the offer entitling them to compensation for inconveniences suffered due to flight cancellations, delays, baggage loss or damage, medical expenses consequent on accident or permanent disability, as little as N1,000 (One Thousand Naira) premium per trip, per flight. Passengers have a choice to opt-out of the insurance package.
There is a free cover for one accompanying infant (below age 2yrs) named in the travel manifest, per flight.
This product was launched recently and AIR PEACE passengers have begun to enjoy a more relaxing air travel experience with the assurance that inconveniences suffered because of unforeseen flight cancellation, delays, missing or delayed baggage shall be compensated.
The Chief Operating Officer of Air Peace, Mrs. Oluwatoyin Olajide, said the insurance package is to address the issues around their experiences concerning lost or damaged luggage and, more recently, the pain point of missed flights. These concerns are now fully addressed with an insurance product from AIICO, a tier-one Insurance company in Nigeria. We believe this solution will make these challenges a thing of the past.”
The Managing Director/Chief Executive Officer, AIICO Insurance, said “we are delighted with the endeavour, which aligns with continued focus on innovative products that bring wholesome peace of mind to the customer”.
According to the Chief Information Officer, Olusanjo Shodimu, said, “at the back end, we have developed and leveraged the required technology to make the process for the customer seamless. All they do is making flight bookings; the rest is where we link the companies and processes that deliver a product which guarantees them a worry-free risk cover”.
The product will be sold via the airline’s online ticket platform. Passengers will be compensated for inconveniences suffered from the aforementioned incidents within three working days, once a claim is reported and all documentations submitted. “We are not just saying that we value our customers but deliver on giving our customers a great travel experience with this product. It is a real stop-gap for our customers, so they do not experience undue financial burdens due to their travel”, continued, Shodimu, said.
The agreement between the organisationsbrings innovation to the aviation industry through embedded insurance that meets customers’ needs.
AIICO Insurance is a leading composite insurer in Nigeria with a record of serving our customers that dates back over 50 years. Founded in 1963, AIICO provides life and health insurance, general insurance and investment management services to create and protect wealth for individuals, families and corporate customers.
