BY NKECHI NAECHE-ESEZOBOR—In a significant move to expand financial protection and enhance customer-centric innovation, Lasaco Assurance Plc has received regulatory approval for six newly developed insurance products.
This milestone marks the first phase of a broader product expansion strategy, designed to increase relevance, accessibility, and value-driven protection for individuals and businesses across Nigeria.
The newly approved offerings include Estate Plan, Future Secure, Comprehensive Plus Personal Belongings, and three enhanced third-party motor insurance variants: Lasaco Flame Shield (Third Party Plus Fire), Lasaco Safe Asset (Third Party Plus Theft), and Lasaco Drive Safe (Third Party Plus Own Damage), representing the first set of approvals under a newly introduced product expansion by the company.
These products are specifically designed to bridge existing coverage gaps, offering flexible and affordable insurance solutions that cater to the diverse needs of Nigerians.
Speaking on the development, the Acting Managing Director of Lasaco Assurance Plc, Mr. Ademoye Shobo, emphasized the company’s dedication to trust, consistency, and innovation.
“Our legacy of reliable claims payment and customer-centric service has positioned us as a trusted leader in the insurance industry. These new products reflect our commitment to addressing real-life risks and evolving customer needs. We are not just expanding our portfolio; we are delivering practical, meaningful protection that supports financial stability and peace of mind for our customers,” Mr. Shobo stated.
From a strategic standpoint, Mr. Adedayo Adetokun, Head of Strategy, Research, and Communications, highlighted the role of these new products in driving the company’s growth objectives.
“These offerings have been carefully developed to address specific protection gaps in the market. They will play a pivotal role in expanding our market share, attracting new customer segments, and improving product adoption. Each product is structured to be affordable, scalable, and responsive to the current risk landscape, ensuring that we meet the evolving needs of our customers,” Mr. Adetokun explained.
The newly approved products will be available at Lasaco Assurance Plc’s head office and branches nationwide. The company is also set to leverage digital platforms to enhance accessibility, ensuring seamless customer engagement across various touchpoints.
This development aligns with the growing focus on innovation, digital transformation, and consumer education within Nigeria’s insurance sector. Its latest product approvals reinforce its position as a forward-thinking industry leader, committed to sustainable growth, customer value, and financial inclusion.
