Yemisi Izuora
The Universal Insurance Plc has promised to sustain its partnership with the Nigerian Association of Insurance and Pension Editors, with a focus on ensuring mutual growth and success for both organisations.
Managing Director/Chief Executive Officer of the company, Jeff Duru, made this known during a courtesy and appreciation visit by executives of NAIPE to the company’s head office in Lagos.
Speaking during the visit, Duru stated that Universal Insurance was the first insurance company in Nigeria to introduce fast claims service.
According to him, his predecessor, Ben Ujoatuonu, laid the foundation for the company’s strong relationship with NAIPE and the media.
He said: “My predecessor, Mr. Ben Ujoatuonu, created this valuable relationship with NAIPE. When I joined the company, he explained to me the nature of the relationship the company has with the media. That legacy he created is one we will continue to uphold and ensure it never declines.
“We will continue to strengthen the relationship to keep the flag flying. Whoever succeeds me will also inherit and sustain that legacy to ensure mutual success for both organisations.”
Duru also commended members of the management team for their dedication and commitment to the growth of the company.
He said: “My team members have worked assiduously and creatively. We work together to ensure that this relationship continues beyond all of us, for the benefit of our organisations.”
Speaking on the company’s recapitalisation plans, Duru expressed confidence that Universal Insurance would emerge stronger and better positioned after the exercise.
“At the end of the recapitalisation exercise, Universal Insurance will become significantly bigger in every respect. The beauty of recapitalisation is that it strengthens capacity, enabling companies to expand operations and venture into new areas aligned with the board’s strategic vision,” he said.
Commenting on the company’s position in the digital space, Duru noted that Universal Insurance had already digitised all its personal line products, allowing customers to purchase insurance products seamlessly through its online platforms without physical interaction with staff.
“In terms of digitalisation, we are already there. All our personal line products have been digitised. Customers can visit our website or portal and purchase products seamlessly without physical contact with our staff.
“We are also the first insurance company to introduce fast claims service, and others are now learning from us. We are receiving positive feedback from users adopting digital fast claims solutions for online surveys.
“Artificial Intelligence is another area we are championing. Once we conclude the recapitalisation process, we will launch our AI-driven platform, which will be a major development for the industry,” he added.