Heirs Projects Transformation On Nigeria’s Insurance Industry

Heirs Holdings Enters Insurance Market, Promises Insurance Revolution -  National Economy Newspaper

Yemisi Izuora

One of Nigeria’s freshers in the insurance sector, Heirs Holdings (HH), is coming with some creative innovations that will profoundly change the narrative in the industry. The Tuesday unveiled its transformative insurance industry play, with the launch of Heirs Insurance Limited (HIL) and Heirs Life Assurance (HLA), in Lagos.

Heirs Holdings will bring a dynamic, digitally driven offering to the general and life insurance sectors, providing clients with a real choice of products, pricing, channel, and claims handing.

Heirs Insurance Limited (HIL) on the other hand provides general insurance, offering policies covering vehicles, homes, SMEs, business risks, and other properties. Heirs Life Assurance (HLA) offers insurance-backed savings plans and life insurance security for individuals, families, children’s education, debtors, creditors, entrepreneurs, and employees. All plans offer customers comprehensive protection, creating financial certainty for loved ones, cherished assets, and properties.

Both companies would leverage the business track record of Heirs Holdings, the pan-African investment group, chaired by leading investor and philanthropist, Tony Elumelu.

Heirs Holdings’ portfolio includes companies transforming financial services, power, oil and gas, real estate, hospitality, healthcare, and technology.

At the launch, the companies announced a series of product innovations, including a web portal enabling customers to get an insurance quote in minutes and receive claims settlement in less than 24 hours, from their mobile devices. The highly intuitive and easy to use portal assists the total customer journey, from comparing products to finding the right cover. They also unveiled a suite of customer friendly, affordable products, that are simple to understand, featuring flat pricing and tailored directly to the Nigerian market and the needs of Nigerians.

Heirs Insurance, the general insurer, with its mandate to enable Nigerians to protect their valuables and property, unveiled flexible low-cost comprehensive motor insurance and new insurance products targeting users including bikers, tenants, and SMEs. Heirs Life unveiled affordable savings, term life and inheritance plans, that provide financial security throughout customers’ life journey.

Dr. Adaobi Nwakuche, Ag. MD/CEO, Heirs Insurance, said: “We are delivering insurance that is easy to understand, quick and reliable, simplifying our customers’ lives. Our mission is simple: make insurance accessible. Our goal is to transform customer service: cutting waiting time in claims processing and purchase to bare minutes — across all touchpoints, including mobile devices. At Heirs Insurance, we want to give our customers what they have so often lacked – high quality insurance, at an affordable price – and with an insurer that is on their side”.

Niyi Onifade, MD/CEO, Heirs Life, said: “Our goal is to integrate life insurance products into people’s daily lives to create financial inclusion and bring quality financial services to the many, not just the few. This way, we empower people to live more confidently and achieve their dreams, whilst securing the future of their loved ones. Heirs is all about giving our clients financial security. As people build wealth, we want them to know that they have a partner in Heirs Life, providing financial support throughout their life”.

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