Great Nigeria Insurance Pays N0.7bn Claims

Great Nigeria Insurance Plc, a composite underwriting firm with branches in different parts of the country has said it paid a total of N0.7 billion claims to its clients between January and June 2016.

The company said in a statement made available to THISDAY that the above claims emanated from both life and general business under its portfolio.

The Chief Technical Officer of the company, Mr. Folusho Alliyu, said a breakdown of this shows that claims from General Business accounted for over 19% of the figure, while claims from life insurance business, constituted about 80% of the total claims settled within the period under review.

Alliyu, said the company’s affirmed commitment towards claims settlement, is the reason for its continued existence adding that management regards claims settlement as obligation to the insured. “Prompt claims settlement is not just an attribute but a culture that has been adopted by all personnel in Great Nigeria Insurance Plc; we do not intend to fall short of this obligation and we will continually strive to make good our promise of exceptional service delivery at every point in time”.

He encouraged Nigerians to imbibe Insurance culture as a vital part of their daily existence.

Also speaking, Managing Director/CEO, of Great Nigeria Insurance Plc, Mrs. Cecilia O. Osipitan said that insurance works on the promise to pay compensation for any insured in the course of any eventuality. She urged all policy holders to ensure immediate report of any loss experienced to the company to facilitate prompt settlement. She further added that Great Nigeria Insurance Plc has overtime upgraded its processes and information technology infrastructure having realised that improved real time and cutting-edge technology in pushing the frontiers of its operations cannot be undermined.

Mrs. Osipitan, stated that the company has put in place a responsive claim process which ensures that customers do not go through any stress in getting their claims settled.

“The processes involved from the moment a claim is reported to the period the customer receives the cheque have been made as seamless as possible”.