By Ngozi Onyeakusi— Foremost life insurer, African Alliance Insurance Plc. has revealed that in the month of December 2021, it has paid ₦475M claims to its customers ahead of the yuletide season. This is part of a larger N7.5bn claims paid thus far in the year.

 

Speaking on the firm’s claims profile, Joyce Ojemudia, MD/CEO, African Alliance Insurance PLC, reaffirmed the company’s commitment to satisfying her teeming policyholders. “At African Alliance Insurance PLC, we are in the business of paying genuine claims as due. This is more important as the year rolls to an end with many uncertainties that may affect the festivities. For us, we have promised we will be with them for life, this is our ongoing fulfilment of that mantra,” the MD/CEO said.

 

Going further, she restated the company’s long history of claims payment while informing stakeholder that the firm has instituted a seamless claims process which included “fortifying the claims unit with agile and nimble claims experts enabled by technology to join the team on ground. This has resulted in a faster processing time for claims. As we end this year on a good note, we are reassuring our customers that we won’t renege on our commitment to paying claims as due.”

 

According to the year-to-date break down presented to the media, the life insurer has paid N1.23bn in Individual Life claims; N1.36bn Group Life; N626m Takaful; N25.2m Esusu payouts as well as N4.35bn in Annuity payments.

 

Incorporated in 1960, African Alliance Insurance PLC is widely regarded as the strongest and most experienced life insurance specialist in these climes. Operating out of its HQ in Lagos and 18 branches nationwide, the ISO certified firm recently demonstrated its ambitions in the retail space with the opening of two new branches to aid penetration.