Funmilayo Abimbola Omo, MD/CEO Enterprise Life
BY NKECHI NAECHE-ESEZOBOR— Determined to improve life insurance business in Nigeria, Enterprise Life Assurance Company Limited, has designed simplified and easy to understand products.
Funmilayo Abimbola Omo, the company’s managing director, disclosed this to BusinessToday Online on the sideline of the just concluded 48th annual conference and general Assembly of African Insurance Organisation (AIO), Conference, held in Nairobi, Kenya.
She said they have also taken advantage of the fact that they are starting at a time when technology is a big enabler for business in making distribution technology focus.
“Our distribution process is digitalized, yet we make use of our well trained sales representatives in driving the knowledge, the understanding and we are getting people to understand what the needs specifically are, that way the insurance purchase is tailored to the exact need of the society and each individual.”
On claims payment she said: ” Our claims has been manageable and it is a unique value proposition for us. We aimed at settling claims within 24 hours of documentation and we have tried to keep it so. We believe that part of the challenges we are experiencing in the country especially with that of insurance is lack of trust. The only way which we can earn this trust is to make sure we fulfill our obligations as soon as we can, and that we are committed to, in Enterprise Life.
Speaking on the theme of the conference, “Insurance and Climate Change: Harnessing Growth Opportunities in Africa”, she said: “The earlier the industry begin to understand climate change and the impact it has on our business and how we can support all the initiatives around climate change the better for the industry.
She added that climate change is a major risk that the industry needs to appreciate and begin to work at mitigating it.
Enterprise Life entered the Nigerian insurance market space last year with the sole aim of delivering innovative Life Insurance solutions that support customers’ quest for a fulfilled and quality life across key West African markets.
The insurer understands that Nigerians are resourceful and ingenious people who need to be supported with the appropriate platforms, products and services that will enable them face the future with confidence.
Thus, its business model focuses on the needs of the customer and delivering exceptional value that gives them advantage in the pursuit and fulfilment of their aspirations.
