BY NKECHI NAECHE-ESEZOBOR–African Alliance Insurance Plc, has demonstrated her commitment to customer satisfaction with the payment of N25.7billion in claims to policyholders in 3 years.
The company has consistently increased claims payment by 17% year on year since 2020, with a total of N25.7 billion paid over three years.
According to statement released by the firm shows that in 2020, it paid out over N7.1 billion in claims, which increased to N8.3 billion in 2021, and a whopping N9.7 billion in 2022.
The breakdown of 2022 shows N4.26 billion paid to annuitants, N1.76 billion in Group Life claims, N1.84 billion in Individual Life claims, N714 million in Takaful payouts, and N1.1 billion in Esusu payouts.
The company continues to make remarkable progress, having successfully paid over N573 million in January 2023 YTD, demonstrating its reliability with evidence of excellence in claims settlement.
Commenting on the payment, Managing Director/CEO, Joyce Ojemudia, said: “We understand the importance of prompt claims settlement and we remain steadfast in our resolve to deliver on our promises to our valued clients.”
African Alliance prompt claims settlement led to the company winning the “Claims Excellence Insurance Company of the Year” organised by Business Day’s Banks and Financial Institutions (BAFI) Awards.
The award is given to only life or Non-life insurance company, or broking firm, that has demonstrated unmatched leadership, as far as claim handling/ facilitation, is concerned.
“African Alliance has matched pay-outs with a carefully executed expansion strategy to serve retail clients in geographies where the opportunity exists”.
African Alliance remains one of top five life insurer that has distinguished itself in the insurance sector, for its cutting-edge products, top-notch customer service, and dedication and commitment to excellence.
