A new retail insurance product aimed at assisting policyholders in risk mitigation has been introduced into the Nigerian insurance market by Linkage Assurance Plc.
These products, Linkage Purple Motor Plus and Linkage Third Party Plus, which have been duly certified by the industry regulatory body, the National Insurance Commission (NAICOM) offers much more benefits to policyholders especially this period of economic recession.
The rest of the products include Linkage Shop Insurance, Linkage Event Insurance, Linkage Estate Insurance and Linkage SME Comprehensive, a step-down industrial risk cover designed to provide financial protection for Small and Medium-sized Enterprises.
In his welcome address, at the launch of the products in Lagos, the Managing Director Linkage Assurance, Dr. Pius Apere opined that company was determined to bridge the gaps that exist in the retail insurance business in the country by coming up with the products.
According to him, Nigeria retail insurance market is still untapped adding the firm was leveraging on the products to tap into it.
“The retail market has long been tapped and that is where the growth is. This is a country that the population is over 180 million, but what percentage of the population has insurance coverage?, they said less than one percent. That is to say that people are not aware of insurance. It means there are potential growth opportunities for the insurance industry. Linkage is hereby positioning itself to into the retail market by designing these new products that are appropriate, that are competitive to meet the needs of the people
Presenting the products, the Head, Strategy & Business Development, Mr. Imo Imo stated that the products which were tailored to meet the need of its customers came in a unique form adding that they have the capability of offering quality services which no other products in the industry had an offer.
He assured that those buying Linkage products should be sure of excellence service, customer value, and satisfaction as well as prompt claims settlement.
“One of the things that we are known for is excellence service, customer value and satisfaction and prompt claims settlement.