FBNInsurance Strengthens Agency System, Targets One Million Policyholders In One Year
L-R: Thomas Meisinger, Chief Operating Officer, FBNInsurance Limited; Akudo Azu, Head, Marketing & Corporate Communications, FBNInsurance Limited; Tunde Mimiko, MD/CEO, FBNInsurance Limited; Odinakachi Umekwe, Executive Director, Retail Distribution, FBNInsurance Limited at the press conference held today in its office at the Victoria Island.
FBNInsurance Limited has strengthened its retail segment even as it plans to grow its policyholder base to one million within the space of one year through the agency system.
The newly appointed Managing Director/Chief Executive Officer, Tunde Mimiko, disclosed this yesterday at a press conference in Lagos.
Mimiko said the firm presently has over 3,000 insurance agents driving its business at the grassroots, adding that the company intends to redefine the insurance business, especially, through retail, hence, it plans to grow its insurance agents to 5,000 before year-end.
He maintained that having more agents who will be selling insurance products and services across the country will enhance insurance penetration and awareness, adding that the company would equally uses technology to capture the millennia onto the insurance platform.
Disclosing that the firm currently has about 400,000 policyholders, he promised that FBNInsurance intends to grow this number to one million within the next one year, stressing that the firm hopes to be the number one insurance company in the country.
“This is not about promises; we have the personnel to achieve this. We are going to use agency system to penetrate the nooks and crannies of the country while we will rely heavily on technology to capture the millennia,” he pointed out.
“We want to grow the personal line through the agency platform. Currently, we have over 3,000 agents but we are on an expansion drive to take it to 5,000 by year-end,” he submitted.
With low insurance penetration in the country, Mimiko said, FBNInsurance would be instrumental to increase penetration, taking insurance to grassroots.
“We want to improve our customers’ experience by improving a lot in technology. We want to be the number one insurance company in Nigeria in terms of customer volume and profitability,” he stressed.
