L-R: Group Head, Retail, Wapic Insurance Plc, Patrick Osadebe; Executive Director, Bode Ojeniyi; Chief Executive Officer, Adeyinka Adekoya; National President, National Association of Nigeria Travel Agencies, Bankole Bernard; Group Head, Customer Experience and Fulfillment, Aina Akintunde and Managing Director Designate, Wapic Assurance Limited, Ayodeji Bankole-Olusina at the event.

 

 

By NGOZI Onyeakusi — Wapic Insurance Plc, has launched an innovative travel insurance product into the nation’s insurance industry.

The product which is  unique as well as affordable is specifically designed to cover individuals against unforeseen incidents during international travels.

Speaking at the launch of the product in Lagos, the Chief Executive Officer of the frontline underwriting firm, Adeyinka Adekoya, said the product was unveiled after an extensive period of detailed review of consumer-detriment issues in travel insurance, stressing that the product was released to ensure better consumer protection during travel.

She posited that the firm produced the product after thorough investigation and engagement with key stakeholders, adding that the company is proud that the product addresses the issue of accessibility and that the product is pocket friendly and pricing is based on duration of trip and destination, thereby according access to a varied range of consumers.

She noted that the company’s solid reputation for delivering top-notch insurance services, coupled with institutional knowledge, quality and customer services, make the product an ideal travel insurance option of choice.

According to her, the product covers, compensation for in-flight loss of checked-in luggage; compensation for delay of flight, luggage; payment of medical assistance for illness or accident sustained while traveling; transport or repatriation for medical reasons for the insured and/or family members traveling with the insured; accidental death cover, transport or repatriation of mortal remains of insured and emergency return to home following the death of a close member.

“The ability to access pocket friendly and sound travel insurance is critical for travelers to fully enjoy their international trips with peace of mind. Before we decided to launch this product, we had observed over time very little or no awareness of travel insurance and its benefits and thus travelers would be at a disadvantage if they ever had an emergency during their trip. From simple issues such as inflight or checked-in baggage loss or more complex issues such payment of medicals bills or accident sustained while travelling or even cost of repatriation in a worst case scenario.

“As we launch the Travel Insurance product, Wapic plans to invest in sensitizing our customers and prospects about the benefits of buying travel insurance through our various digital channels. The idea is to increase product awareness and patronage and also to elicit interest and ongoing debate in the public domain on the relevance and importance of Travel Insurance for the protection of life and personal property,” she said.

She said the firm will ensure the engagement with the product is hassle-free, adding that sales of the product will be done directly to consumers through the firm’s digital platform and other touch points, as well as through partnership with leading digital channels, travel agencies, airlines, and other agencies within the travel value chain.

Also speaking at the event, the Executive Director of the firm, Bode Ojeniyi, said the goal of the company is to lead and transform customers experience, adding that the firm will leverage technology and other superior technical competencies to develop products to enhance its value proposition.
“Wapic has an uncompromising commitment to our customers’ peace of mind. This is evidence in our commitment to continually improve the value we bring yo life ur customers through offering inventive, customizable products that make travel safe and protect travel investments,” he said.
He maintained that as at today, the travel insurance product which features holistic coverage for travelers to help protect themselves, their belongings and travel investments, is available for purchase via www.wapic.com.
The National President, National Association of Nigeria Travel Agencies, Bankole Bernard; said the association looks forward for the benefits customers are to enjoy through the product adding that it informed reason for association partnering with the Wapic. He noted that the association has over the years, built a robust relationship with the underwriting firm, adding that the relationship will be sustained.
He pointed out the product was timely and affordable.