MD/CEO Coronation Insurance Plc, Mrs. Yinka Adekoya
NKECHI NAECHE-ESEZOBOR-Poised to deepen penetration and awareness, Coronation Insurance Plc., formerly Wapic Insurance, has announced that it will partner with Access Bank Plc to sell its policies through the bank’s branches.
The insurer noted that the partnership represents a key milestone for the Nigerian Insurance Industry.
Mutiu Sunmonu, Chairman of the company disclosed this while speaking at a webinar on ‘Managing Risks That Keep CEOs Up at Night’ noted that new standard of quality and service delivery will be established within the insurance industry.
“The partnership will elevate the level at which insurance services are delivered to corporate customers in the country, adding that he was impressed with the digital maturity, size of investment, financial capacity and talent within the underwriting firm.”
Also, Herbert Wigwe, Group Managing Director/Chief Executive Officer (CEO), if the bank was of the view that the partnership will improve underwriting and claims experience in the insurance industry.
“In fulfillment of more than a bank promise to you, we want our customers to have the best experience in underwriting and claims experience and we believe that it is possible that with a bancassurance partner with a company like Coronation Insurance, it will be achieved.”
“We are proud of the great strides recorded by Coronation, one of which was being the fastest-growing corporate risk underwriter over the last decade and among the three top Recapitalised insurance companies in the country.”
“In pursuit of our goal of being more than a bank to our customers, largest banks with similar ambition like ours across the globe have bancassurance partners who offer their services directly or indirectly through the bank.
“In selecting a bancassurance partner, we have had to look for a couple of identifiers; the first among them is the underwriters’ speed of response to customers, and the second is the financial strength and capitalisation base of the underwriter.
“With the strong interest of our customers in mind, Access Bank considers all of these qualities and found Coronation Insurance to be leading within the various categories.”
