Great Nigeria Insurance (GNI) Plc has overhauled its claims operations and paid out more than N3 billion in outstanding claims, as part of a drive to regain market confidence.
After reconstituting its Board of Directors and Executive Management, the company moved to tackle the structural and systemic problems that had weakened its operations over the years.
Chief among them was a backlog of unpaid claims that damaged customer confidence and strained relationships with key industry stakeholders. Immediate claims settlement therefore became the centerpiece of its turnaround strategy.
Chief among them was a backlog of unpaid claims that damaged customer confidence and strained relationships with key industry stakeholders. Immediate claims settlement therefore became the centerpiece of its turnaround strategy.
Overcoming Legacy Obstacles
Delayed claims payment has long been a major pain point across Nigeria’s insurance industry, eroding public trust in traditional underwriters.
Recognizing that prompt settlement is the real test of an insurer’s value, GNI’s Executive Management prioritized financial restructuring to clear long-standing obligations.
Recognizing that prompt settlement is the real test of an insurer’s value, GNI’s Executive Management prioritized financial restructuring to clear long-standing obligations.
To date, the company has paid over N3 billion to individual policyholders and corporate clients nationwide. The clearance of these liabilities is one of the most aggressive debt-settlement exercises in the company’s recent history and signals a clean break from past bottlenecks.
Industry observers have described the move as a timely, targeted intervention and a necessary remedy that should help return the insurer to full strength.
“GNI RELOADED” : Reconnecting with Brokers
To formalize the shift and rebuild vital trade channels, GNI hosted two brokers’ fora, themed “GNI RELOADED,” in Ibadan and Lagos.
Because brokers place a significant share of commercial and institutional policies in Nigeria, mending relationships with them was essential.
At both events, company leadership presented its restructured claims payment policy and turnaround time, and outlined operational improvements to streamline future underwriting and claims processing.
Key outcomes of the fora:
Broker verification: Participants publicly confirmed full settlement of their clients’ historic claims.
Renewed relationships: Brokers expressed fresh interest in partnering with the reformed GNI.
Operational standard: A strict 48-hour Turnaround Time (TAT) was introduced for claims with complete and verified documentation.
Broker representatives in both cities confirmed that legacy accounts had been reconciled, and several firm principals said they were ready to route new business portfolios back to GNI.
Institutionalizing the 48-Hour Turnaround Time
To prevent future backlogs and sustain operational efficiency, GNI’s Executive Management has set a maximum 48-hour window for processing and paying verified claims.
Under the new service level agreement (SLA), payment must be authorized within 48 hours once a claim has been documented and verified by adjusters. Management stressed that this is not a promotional promise but an embedded operational mandate, backed by streamlined digital workflows and revamped internal approval controls.
By pairing substantial capital deployment with structural service delivery reforms, GNI aims to position itself as a reliable and responsive player in Nigeria’s evolving financial services sector.
The next GNI RELOADED forum will hold in Abuja on Thursday, 19th November 2026, as the company continues its engagement with the broker community.