ZENITH General Insurance Limited said it paid about N5 billion as claims last year to many organisations thereby helping them to return to business.
Also, it announced a partnership with the Nigerian Association of Insurance and Pension Editors (NAIPE) to enhance the growth of the insurance industry in the country.
The Managing Director and Chief Executive Officer of the firm, Mr. Jude Modilim, affirmed his Company’s readiness to work with NAIPE to drive insurance growth in Nigeria during a courtesy visit by the executive members of NAIPE to the management of Zenith General Insurance.
Modilim also commended NAIPE for introducing initiatives and embarking on programmes that are capable of driving the industry’s growth, noting that this would enhance a change in the industry’s narrative.
He said, “We are open for the partnership; the kind of partnership that is a win-win; partnership that will project Zenith General to the public, telling them what we are doing, especially about our ability to pay claims. We are willing to work with you as long as it is a mutually beneficial partnership.
“I am actually very impressed with some of your programmes designed to create insurance awareness such as Claims Profiling, and Testimonials Reporting. These are very good, and it will go a long way in deepening insurance penetration which the National Insurance Commission (NAICOM) and the entire industry are yearning for.
“As an industry we all pay claims. Last year, Zenith General paid about N5 billion as claims to so many organisations thereby helping them to return to business. These are Organisations that ordinarily would have failed because of one catastrophe or the other.
“Many times when I engaged those who said insurance companies are not paying claims to come forward with any claim they have that has not been paid, none of them have been able to do that, so the public needs to know that insurance companies are paying claims. What you guys are doing will make people know that insurance works”.
The Chairperson of NAIPE, Mrs. NkechiNaeche-Esezobor, explained the rationale behind the establishment of NAIPE and what the association has done over the years to contribute to the growth of insurance industry in the country.
She noted that NAIPE has been in existence for over 30 years working with 31 members who are insurance and pension editors in the major national media establishments, including online platforms to create awareness on the benefits of insurance.
She said, “We are concerned about low insurance penetration in Nigeria and the poor perception by Nigerians about insurance and it is a known fact that NAIPE has been working tirelessly over the years to change this negative narrative.”
Naeche-Esezobor listed some of the products the association is offering as part of its efforts to deepen insurance growth in Nigeria including Products Profiling; Management Profiling; Claims Profiling; Quarterly CEO Forum and Sponsorship of NAIPE AGM.
She called on insurance companies to take advantage of the various products and initiatives put in place by NAIPE to enhance the growth of their businesses.
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