Anchor Insurance unveils 2 products to deepen growth

In a bid to deepen insurance penetration and awareness in the country, top underwriter Anchor Insurance Company Limited on Wednesday launched two new products into the Nigerian insurance market.

The two new products are : Anchor Travel Insurance and Anchor Agriculture Insurance, were recently approved by the National Insurance Commission (NAICOM).
Speaking at the launch the Managing Director/ CEO, Ebose Augustine, said that the approvals from the commission provides the opportunity for the company to extend its well known passionate service difference and finesse to drive the products for the maximum comfort of its potential customers. 

“For about 30 years that Anchor Insurance Company has been in operations, we are remarkable for excellent delivery of services to our teeming customers. 
“We assure all potential customers of a seamless claims process which they are acclaimed for. We do not tell stories when genuine claims are reported to us. We assure you of the very best of service as you invest in our policies. “

Speaking on the products he said the company received approval for four of its Agriculture Insurance products which includes: Multi-peril Crop Insurance which covers against the risk of fire, lightening, pest/diseases, drought, flood, windstorm and aircraft. This policy covers damage for all cash and arable crops.

Fishery Insurance that takes care of risks of death of the fish as a result of diseases and collapse of the pond.
Poultry Insurance which is essentially against the death of birds as a result of accident, diseases, fire, flood and windstorm and livestock Insurance which insures against the death of animals due to accident, pest/diseases, fire.

Speaking on Anchor Travel Insurance, he said that the company will be running the policy under an agreement with MAPFRE  ASISTENCIA, based in Spain.

The policy according to him comes with a family plan which ensures that children between three months and 18 years travelling with their parents only pay half of the premium rate being charged. It further comes with premium discount package for group subscriptions. The group is expected to have a minimum of 10 persons. The discounts range from 5% to 25% according to the number of persons that make up the group.

However, because of perceived risks associated with certain categories of age, the policy comes with variations in the premium charged to persons aged between 66 and 75 years, 76 and 80 years and 81 years old where only the Schengen policy isavailable. 
The policy comes with three travel protection plans: Schengen, Worldwide and Worldwide 1. 

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