African Alliance Lists Benefits of Robust IT System

Contrary to the belief among some operators that the COVID-19 pandemic slowed down their performance last year, African Alliance Insurance Plc has said it had a different experience, saying it witnessed faster payment of premium by policy buyers.

The company, said during the lockdown last year due to the pandemic, it received premium from federal government on the group life insurance of its workforce faster than every other year. It attributed the success recorded during the period to its robust IT system and Business Continuity Management process which it had put in place before the advent of the COVID-19 period.

The company’s Managing Director, Mrs. Joyce Ojemudia, who disclosed this at the recent Annual General Meeting(AGM) of the National Association of Insurance and Pension Correspondents (NAIPCO), in which African Alliance sponsored, in Lagos recently, stated that the company suffered no business halt during the period.

She said the company has always been prepared to withstand any eventuality.

Ojemudia, who was represented at the meeting by the company’s Head of Marketing, Mr. Emmanuel Eburajolo, stated that the Covid-19 came unexpectedly, with a lot of challenges and many companies were caught unaware.

She however said at African Alliance, the impact was minimal because of its Business Continuity Management process.

“We had a process that was digitally enabled and this aided the smooth continuation of our business and services with customers even when some companies were still grappling with the situation and trying to find their feet,” she said.

The insurer’s boss, however, urged the media to collaborate with the insurance industry for enhanced insurance awareness in Nigeria.

According to her, “we all agree you are the loudspeakers of our industry. Without you, whatever goes on in our industry would go largely unnoticed and unreported, pretty much like someone winking in the dark.

“But this is not an easy task, being gatekeepers for an industry that is older than Nigeria as we know it, with various interests and mindsets.

“However, someone has to do it, and I daresay you are doing very well. But can we do better? Yes we can. Even the best of outcomes can get better,” Ojemudia said.