Insurer pays 7.5 billion naira | The Guardian Nigeria News

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For the insurance industry to contribute significantly to Nigeria’s gross domestic product (GDP), operators must pay claims quickly.

African Alliance Insurance Plc chief executive Joyce Ojemudia, who spoke to The Guardian, said so. She said the company paid policyholders 475 million yen this month, before Christmas.

According to her, the company paid the true claims as due, adding that this had become more important as the year ended with many uncertainties that could affect the festivities.

“For us, we have promised that we will be with them for life, this is our continued fulfillment of this mantra,” she said.

She recalled the company’s long history of claims settlement while informing stakeholders that the company had a transparent claims settlement process in place, which included “strengthening the claims unit with agile and agile claims adjusters thanks to technology.

“This made it possible to speed up the processing of complaints. As we end this year on a good note, we reassure our customers that we will not renege on our commitment to pay claims as they fall due.

According to the annual breakdown presented to the media, the life insurer paid 1.23 billion naira in individual life claims, 1.36 billion naira under group life insurance, 626 million naira under “Takaful” , 25.2 million naira for Esusu and 4.35 billion naira for annuity payments.

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