Foremost life insurer, African Alliance Insurance, has continued to fulfil obligations to its teeming customers with the payment of claims in excess of N0.967 billion in the first 40 days of the 2021 business year.
The Managing Director/Chief Executive Officer of the 61-year-old insurer, Joyce Ojemudia, in a statement by the firm’s Brand, Media and Communications Manager, Bankole Banjo. restated the firm’s claims commitment to its policyholders.
“For us at African Alliance, we are poised to continue our renewed commitment to fulfilling our stated obligations to our stakeholders. Paying claims as due, therefore, is non-negotiable. Indeed, the bedrock of a sustainable insurance business is a mutually beneficial arrangement where the insured and the insurer both stick to their obligations to each other without fail,” Ojemudia said.
A breakdown of the claim payments across the firm’s business lines showed that between the first of January and now, the firm paid about N148.2 million to 155 individual life customers, N307.5 million to 141 Group Life claimants, N124.1 million to 168 Takaful claimants not forgetting some N387.3 million to our annuitants. “We won’t shirk our responsibilities; we have promised to remain with our customers for life, we will not relent on our oars as we continue to excite our policyholders.”
Recall that in the last quarter of 2020, the firm had announced payments of over N2.3 billion in claims in line with their continued drive for customer satisfaction.