Yemisi Izuora
ensure Insurance PLC, a composite insurance company in Nigeria paid out the sum of N390,863 million as claims to customers in the first quarter of 2016.
A breakdown of the figure shows that the Company paid out N170,215 million on Life insurance claims and a total of N220,648 million on General Business claims.
Group Life claims topped the chart with a payout of N84,449 million while Individual Life closed the quarter on N80,907 million.
In the General Business category, Engineering claims led with N64,610 million payout, followed by General Accident and Fire claims with a total of N42,108 million and N39,282 million respectively.
ensure also recorded significant figures in Motor insurance claims amounting to N38,467 million; Oil and Gas N21,639 million; Aviation N4,251 million among others.
The significant increase in the figures for the first quarter of 2016 when compared to the N290 million recorded in the first quarter of 2015 are largely due to an increased subscription to the Company’s insurance solutions and prompt claims processing resulting from the thorough review of the Company’s product and internal processes.
The Company has reiterated its commitment to prompt claims settlement, adding that this is the only way to gain the confidence of the insuring public whilst assuring all stakeholders that its financial strength, impeccable internal process and partnership with highly rated reinsurance companies both locally and internationally will guarantee customer satisfaction.
Ensure Insurance PLC has also introduced a claims toll free line – 08000ensure and a friendly website with claims reporting functionality so customers can report claims quickly, without hassle and still get paid.
The Company also boasts of a strong Customer Service Platform, supported by well trained personnel with a thorough understanding of insurance to promptly and satisfactorily resolve all inquiries and complaints.