Ensure Insurance announces 28% growth in GWP, harps on trust
L-R: Vice President, Nigerian Council of Registered Insurance Brokers, Barr Rotimi Edu; Divisional Head, Corporate Clients & Intermediaries, Ensure Insurance Plc, Mrs.Taiwo-Tella Ndukwe; Managing Director, Ensure Insurance, Mr. Sunkanmi Adekeye; President, NCRIB, Mr Shola Tinubu and Deputy President, Mrs Bola Onigbogi at the December Edition of NCRIB Members Evening held in Lagos recently.
One of the fast growing insurance companies in Nigeria, Ensure Insurance Plc, a company of Allianz Group has announced a 28 per cent growth in its Gross Written Premium (GWP) as at ending of November 2018 over N7.6 billion recorded in 2017.
The Managing Director of the firm, Sunkanmi Adekeye said this while making the company’s position/activities known to members of the Nigerian Council of Registered Insurance Brokers (NCRIB), the umbrella body of insurance brokers in Nigeria at its December Members’ Evening held at NCRIB Secretariat in Yaba, Lagos recently which the firm sponsored.
The company’s performance trajectory in the last three years, according to Adekeye, shows that in 2015, the company closed the year with N2.4 billion; ended 2016 with N4.7 billion while in 2017, the company wrapped up the year with N7.6 billion.
He said as at ending of November the Company’s Gross Written Premium has grown by 28 per cent over N7.6 billion recorded in the previous year just as he assured the brokers that Ensure is a company to be trusted.
“Ensure Insurance Plc, is a member of Allianz Group and Allianz is the biggest non-life insurer in the whole world. Allianz is presently in 17 African countries and 80 countries of the world. The Group has about 140,000 employees. In 2017, our Net Premium Income was 126.1 Euros.
The foundational goal of our corporate existence is trust. We are mindful of the fact that when we become a company trusted by insurance brokers then our business relationship with them is guaranteed,” Ensure MD said.
According to him, “We pride ourselves as an organization that can be trusted because trust is the foundational goal of our corporate existence. We are not an insurance company that will go behind the door and take the business from insurance brokers and that is exactly one of the things we meant by ours is a company that can be trusted.
“Our operational dynamics is the people one of which centres on customers simplicity. We do not joke about customers’ satisfaction. We make sure that everything we do at Ensure is geared towards ensuring the satisfaction of the customers and in this wise, when we talk about customers, we essentially are talking about insurance brokers.
“The second part of our operational dynamics is technical proficiency. We pride ourselves as that company that has that technical proficiency in terms of risk idea, in terms of risk assessment and in terms of creating underwriting capacity for all the line of the businesses that we have. We are also mindful in terms of operational dynamics to have professional efficiency,” Adekeye said.
He added, “We want to be a trusted company and we make no hide and seek about that. One of the things we reiterate, one of the things we think and one of the things we need at Ensure Insurance Plc is that we do not want to be found in a situation where we compromise on the issue of trust. In every point in time of our journey, we want to be trusted and so as far as we are concerned as an organization, first trust is the foundational goal of our corporate existence.
“In order to demonstrate this we have come up with five ways trust. First is self trust – we have to trust ourselves; the second one is to have relationship trust. We want to be in a position where you trust us without any iota of doubt in your mind. We also want to have organizational trust – as far as our organization is concerned, every member of staff will be able to beat his or her chest and attest to the fact that we are an organization to be trusted. We also want to have market trust. Market trust comes with reputation. We want to be reputed for an organization that sticks to its words; we want to be reputed for an organization that does what it says, remembering the societal course – this is where we give back to our society. We pride ourselves as one of the companies that contributed to the growth of our operational communities.
Apart from supporting other industry’s growth activities, every year we also sent some insurance brokers to Lagos Business School for capacity enhancement programme,” Adekeye added.
Ensure Insurance is one of the most innovative and fast growing insurance companies in Nigeria. The company has undergone a turnaround and transformation exercise with a solid capital base and technical competence backed up with highly secure reinsurance facilities for its corporate business customers. Ensure Insurance is reputed for providing simple, accessible, relevant and affordable products to the retail segment of the market.
The company is also known for delivering excellent products and customer services and intends to be the leading insurance services provider in Nigeria.
