Sovereign Trust Insurance Plc, has won the ‘Most Outstanding Auto Insurance Company of the Year Award in 2024 at the 2024 Business Excellence Awards organized by Beta Media.
The award is in recognition of the company’s creativity and adaptability in product development with regards to retail and affordable insurance products to the insuring public.
The Organizers of the annual Award through its Award Committee nominated Sovereign Trust Insurance Plc as one of the possible recipients of the award and at the end of it all, the company emerged the winner of the Award for year 2024.
The criteria for the Award as given by the Technical/Award committee included, efficiency in service delivery, creativity in product development, branch network, the use of technology, media presence of the Brand, adherence to Ethics and Corporate Governance and the quality of Human Resources available to the organisation within the period of the nomination and the screening process.
According to the organizers of the Award, the screening process for the companies nominated for the award was carried out by a group of seasoned Brand Management and Marketing Consultants and some notable members of the Public.
“It was a very rigourous process in determining the eventual Winner for the award but at the end of the day, Sovereign Trust Insurance Plc was adjudged by all as the Winner for the award category in question”.
The CEO of Beta Media, Clarisse Ndinge further reiterated that insurance companies still need to do a lot of work in terms of product development that will impact positively on the lives of the average Nigerian as insurance in the country is still viewed by many as a service for only the rich.
It will be recalled that Sovereign Trust Insurance Plc introduced the Enhanced Third-Party Motor Insurance Policy, (E3P), a hybrid of the conventional Third-Party Cover and Comprehensive Motor Insurance with a premium of N25,000 per annum with accompanying compensation of N3million to the third party and N500,000 respectively to the insured in the event of a road crash.
Receiving the Award on behalf of the organization, the Head of Corporate Communications and Investor Relations, Segun Bankole thanked the organizers of the event for the honour they have bestowed on the organization and promised that the company will not rest on its oars in ensuring that the insurance Industry find a credible voice in the Financial Service sector in the country and beyond.
He said “we will continue to provide top-of-the-range insurance products and services that will delight our customers anytime they come in contact with our Brand”. We are open to new ideas from members of the public in as much as those ideas will add value to what we do as an organization”.
He also used the occasion to enjoin the gathering to embrace insurance if they have not yet been exposed to one form of insurance or the other.
“Insurance is a sure guarantee for the continued existence of any commercial enterprise and a sure mainstay for the continuous wellbeing of any individual or Family.”
The event was gracefully attended by Captains of Industries, Brand Management and Marketing Practitioners, the Media and members of the Public..
