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| L-R: Vice Chairman, Mutual Benefits Assurance Plc, Akin Opeodu; company Chairman, Chamberlin Oyibo, and Group Managing Director, Akin Ogunbiyi, at a media lunch of the company’s new 36 insurance products in Lagos. |
Oluwakayode Adelowokan
In the effort to remain the leading microinsurance company in Nigeria, Mutual Benefit Assurance plc, has launched 36 insurance products which encompass both life and general insurance.
The products include, motor
dealers complimentary Insurance, mega comprehensive insurance, event center
insurance, advertising agency insurance, corporate office insurance, sales
office insurance, hair salon insurance, law firm insurance, Accounting firm
Insurance, Hotel Insurance, hospital insurance, fast food restaurant insurance,
nollywood insurance, church insurance, mosque insurance, estate management
insurance, landlord tenants and travels and tours agency insurance.
Others are school insurance,
market and shopping complex insurance , laundry and cleaning service insurance,
micro finance bank insurance, SME comprehensive insurance, oil and gas supply
insurance, political Comprehensive insurance, Lady life assurance, Juvenile
Life assurance, pilgrims welfare assurance, mortgage endowment insurance,
celebrity life assurance policy, senior life assurance policy, mutual senior
citizen plan, mutual benefit school fees guarantee scheme, MOAN NULGE policy,
and mutual income continuity plan.
Speaking on the need for the 36
new products at a media lunch in Lagos, the General Manager Retail, Mr. Ademola
Fagbayi, said the products were designed to mitigate risks from several sectors
of the economy.
Fagbayi also said the company has
concluded plans to increase its branch network to 200 by the end of 2016 with
36 branches across the country.
He maintained that the expansion
of its branch network to 200 will not only increase insurance awareness in the
country but will reduce the problem of unemployment in the country.
He added that the 36 new products
introduced into the insurance market are focused to meet the needs of an
average Nigerian in the grassroots, adding that the products are both life and
general insurance.
Earlier in his address, the company’s
Group Managing Director, Akin Ogunbiyi, said the company in the last seven
years have been looking for a way of taking insurance in Nigeria into a
forefront and touch lives through affordable and customized insurance products.
Ogunbiyi blamed that operators in
the country have always rely on conventional business, adding that Mutual
Benefits plc have realized that the problem of insurance in Nigeria is the
problem of accessibility, poverty and non-availability of the products for the
people.
He noted that people buy fake
insurance because they cannot find genuine ones.
He assured that the company is
poised to change that scenario, adding that the company will continue to
develop products to meet the needs of the public.
The Group Managing Director, Akin
Ogunbiyi, however applauded efforts of the National Insurance Commission
(NAICOM) in granting approval for the products.
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