Great Nigeria Insurance Pays N501 Million Claims In Q1 2021.
Managing Director/CEO, Mrs. Cecilia O. Osipitan
Great Nigeria Insurance Plc, has continued to affirm its willingness and capacity to honour all genuine claims as and when due. The company, in its quarterly release of the total claims paid showed it had obligated a total sum of N501,591,032.61, (Five hundred and One Million, Five Hundred and Ninety-One Thousand, Thirty-Two Naira, Sixty-One Kobo) to various insured spread across the country.
The organization is a composite entity licensed to underwrite both Life and Non-Life insurance business.
In a statement made available by the company’s Spokesperson and Corporate Communications & Brand Manager, Oyinkansola Sobande posited that the Underwriting Firm is not about paying lips service to settlement of genuine claims when they occur. She however, stated that the claims experience so far has been very alarming which she attributed to the downturn in the economy. According to her, “every insured wants to claim at every given opportunity which impacted the claims figure since the occurrence of the pandemic”.
The Summary of the claims composition paid in the first quarter of 2021, shows that Group Life had the highest figure of N422m while General Insurance business totalled N79m. Under the Non-Life business: Fire ranked first with total claims settled of N32.2m while General Accident recorded N25.8m. The total sum of N12m was paid as claims on Motor Insurance, Engineering gulped N6.7m, Oil and Gas Insurance stood at N1.1m with Marine Insurance closing the figures with N0.96m.
While commenting on the intent of the organization as regards claims settlement, the Managing Director/CEO, Mrs. Cecilia O. Osipitan had this to say, “there is no compromise to claims settlement in Great Nigeria Insurance Plc because the major focus of the company is to ensure that our customers get to enjoy the benefits of taking out any form of insurance policy with us through prompt settlement of their claims when the need arises. That to us, is the only way to prove that we are well and alive to our responsibilities as an Underwriting Firm in the country. We intend to uphold this obligation and we will continually strive to make good our promise at all times to delight our esteemed customers”.
The Managing Director/CEO of the organization, Mrs. Cecilia O. Osipitan further stated that the company has put in place a friendly-claim-process with the major aim of putting smiles on the faces of its various customers across the country by ensuring that claims are settled within the shortest period possible on completion of all necessary documentation.
Our commitment to uphold our Vision and Mission has made the company one of the country’s most relevant and responsive insurance companies in the country. Great Nigeria Insurance Plc is no doubt a formidable force to reckon with in the Nigerian Insurance landscape with a network of offices spread across locations in the country buoyed by cutting-edge technology in delivering seamless and convenient insurance service to all teeming customers in the country and beyond.
