Claims 7780-7782 ———– L-r: Adetola Adegbayi, Executive Director, Technical Services Leadway Assurance/speaker; Kenneth Egwu, Deputy Director, National Insurance Commission; Ezeibe Ekeoma, Managing Director/CEO, Crystal Trust Insurance Brokers; GUS Wiggle, host/Principal Consultant, Carefirst Consults; Edwin Igbiti, President, Chartered Insurance Institute of Nigeria; Odunayo Bammeke, Chairman of the conference; Aniema Ekong of Heirs Insurance Brokers, and Josephine Akinwunmi, Principal Partner, Josephine Akinwunmi and Co, during the 2022 Claims Advocacy Conference by Carefirst Consult on Catalyzing Insurance through Better Claims Experience, in Lagos on Thursday.

By Ngozi Onyeakusi—-Insurance experts have reiterated the need for smooth claims settlement and trust in the insurance industry.

Speaking at Carefirst Consult 2022 Claims Advocacy Conference with the theme ‘Catalyzing Insurance Through Better Claims Experience held in Lagos , Principal Consultant, Carefirst, Gus Wiggle said he was inspired to set up Carefirst Consult, a firm established to pioneer a new outlook in claims management to strengthen the value chain in the insurance industry due to experience of the #EndSARS riot .

Wiggle, who is the former Chairman of the Nigeria Insurers Association and a well-experienced insurance technocrat
said “We have been seeing a trend which has become very challenging.
And that trend actually manifested itself during #EndSARS riot where insurance companies started reminding the insured that some of their policies will not cover their exposures”.
He assured that Carefirst Consult was established to work for both insurer and the insured, for the insured he said they intervened to ensure that their genuine claims are paid.

He however admitted the fact that there fraudulent claims, though he said they ensure that such claims were not attended to.

Earlier in his presentation, the Summit Chair, the Former GGM , Risk Management & Insurance, NNPC , Mr Odunayo Bammeke said trust, which is the bedrock of insurance business is built when a customer is satisfied adding that the highest form of satisfaction for the insured is when his or her claims are smoothly and promptly settled.

He maintained that claims automation and settlement should be made customer friendly even as he advocated the need for a change of mind set that all claims are fraudulent.
Sharing her experience about insurance at the event, the Chairperson, Agricultural and Allied Group, Lagos Chamber of Commerce and Industry, Mrs Edobong Akpabio noted that she had seen both positive and negative side of the insurance. Her positive experience she said was the smooth and prompt settlement of claims involving her husband’s car when he had a fatal accident while on the other side was the hearth break she had when insurance firm, which she invested heavily in was going under.

She equally reiterated the fact that trust was paramount in insurance. “When trust is lost, there is no way you can make it . There is no customer satisfaction when there is no trust” she said.
She insisted that insurance agents should work to satisfy customers other than working to earn commissions.
Also speaking at the event, the Executive Director, Technical Services, Leadway Assurance, Ms Adetola Adegbayi stated that there was need to increase the level of utility of motor third party insurance.