Union Assurance Paid N290m as Claims in Q1

Union Assurance Company PLC appears to be doing quite well in balancing the dynamics of a post-acquisition restructuring programme with ongoing business operations as it has executed claims orders in excess of N290m in the first quarter of this year alone.

According to the Chief Underwriting Officer (CUO), Douglas Machuki, whilst there remains a flurry of activities internally aimed at restructuring and repositioning the business, the firm stays committed to upholding service excellence.

“Ours is an unwavering commitment to correcting the anomalies of the past in the quest for a brighter future for all our stakeholders. This commitment therefore starts with our customers. “We have built a technical team that is a lot more customer centric than before”

“One of the things we did was to embark on a data integrity exercise to update our customer database. In the course of this exercise, we discovered that there had been 37 deaths of our customers, who had a life insurance policy with Union Assurance but which policies were not known to their families. We successfully made contact with many of the beneficiaries and settled these claims within two weeks of the discoveries. Needless to say that this step has brought financial relief to all such beneficiaries. We will not stop until we have located all the other beneficiaries” “In the same vein, we uncovered several claims which had not been settled with the brokers that gave us business. These claims are now being settled to the delight of the brokers and our mutual clients. In the first quarter of this year, we have settled more than N200million of such claims whilst the few remaining are also being aggressively processed.”