For Nigerians to be attracted to the insurance industry, there is a need for underwriting companies to embrace prompt payment of claims to retain public trust and ensure the sector contributes optimally to economic growth.
Managing Director/Chief Executive Officer, FBNInsurance Limited, Val Ojumah, stated this while speaking on the company’s claims profile. He said it paid ₦16.1 billion claims to its customers last year, charging other operators to settle all genuine claims immediately after documentation to build public confidence.
He said claim payment is the basis of every insurance contract as it helps in enshrining confidence amongst insurance buyers.
“We have continued to use excellent service delivery in all areas of operation in propagating the importance of insurance to clients. This is why we have improved the digitisation process to enable us to serve customers in real-time and with speed.
“At FBNInsurance Limited, we take priority in paying genuine claims that are due. Our strategy remains to provide financial security for customers and as always, we will not rest on our oars to exceed customers’ and stakeholders’ expectations because the customer is king,” he said.
He reiterated that customer satisfaction is the fulcrum of the insurance business, adding that this inevitably builds customer loyalty.
