REGIC Transforms To REX Insurance Limited

In a significant milestone achievement that will open a new chapter in the nation’s insurance history, the Royal Exchange General Insurance Company (REGIC) has been rebranded to REX Insurance Limited even as the Company commissioned its new Head Office in Lagos.

Speaking at the Commissioning and unveiling of the Company’s new brand identity on Thursday, the firm’s Chairman, Board of Directors, Mr. Ike Chioke, highlighted the rationale behind the latest transformation.

He said the inauguration of the new head office and unveiling of a refreshed brand, is not just about a new building or a new look. Still, it is about reaffirming the company’s commitment to its customers, employees, and the environment.

Chioke said “It is about embracing innovation, enhancing service delivery, and striving for excellence in everything we do”

According to him, the decision to move to this state-of-the-art head office was driven by our vision to create a workspace that not only meets the needs of our employees but also symbolizes our forward-thinking ethos. This new facility is more than just a building; it represents a new era for our company, one where we are better equipped to serve our customers, foster collaboration, and drive innovation. It is a space designed to inspire creativity, enhance productivity, and support our mission to deliver exceptional service.”

He said “Staff well-being is paramount to the organization as we believe our employees are our primary stakeholders. To enhance their health and wellness, we have installed a state of the art-of-the art gym facility for our use.

“To foster a family-friendly work atmosphere that prioritizes the needs of working parents, we have also set up a creche for our nursing mothers.

On customer service and improved customer experience, Mr. Chioke said “Our customers are at the heart of everything we do. This new head office embodies our unwavering dedication to providing the highest level of customer service. With advanced technologies and improved facilities, we are poised to enhance the customer experience significantly. Every element of this building has been designed with our customers in mind, ensuring that we can respond more swiftly, efficiently, and effectively to their needs.

While reaffirming the Company’s commitment to timely claims payment, he said “One of the cornerstones of our brand promise is our commitment to paying claims on time. We understand that our customers rely on us during some of the most challenging times in their lives, and we take this responsibility very seriously. Our new head office is equipped with cutting-edge systems and processes that streamline our operations, allowing us to process and pay claims more promptly than ever before. This commitment to timely service is a testament to our dedication to reliability and trustworthiness.”

On embracing digitalization he posited that in today’s rapidly evolving digital landscape, staying ahead requires continuous adaptation and innovation. “Our new head office is a testament to our commitment to digitalization. We have integrated the latest technologies to enhance our operational efficiency, improve communication, and deliver superior customer experiences.

“From advanced data analytics to seamless digital platforms, we are embracing the future and ensuring that our services remain accessible, efficient, and user-friendly. Our recently redesigned website – www.Rexinsurab(more user-friendly user interface to aid navigation by visitors to the site. A new mobile app has been developed to give users 24-7 access to our product and services and are available on the IOS and Google play stores.”

Highlighting the Company’s philosophy on Environmental Social, and Governance (ESG), the Chairman said “Sustainability is a key pillar of our corporate philosophy. As part of our Environmental, Social, and Governance (ESG) initiatives, we have taken significant steps to reduce our environmental footprint. Our new head office is equipped with solar panels, providing a sustainable energy source that reduces our reliance on traditional power and minimizes our carbon footprint.

“Additionally, we have started our paperless office initiative to ensure we reduce paper usage and in effect, reduce the impact of deforestation. Also, we have undertaken a tree-planting initiative around our office, contributing to a greener environment and promoting biodiversity. These efforts reflect our deep commitment to protecting our planet for future generations.”

The Managing Director/Chief Executive Officer, Mrs. Ebelechukwu Nwachukwu, in her speech spoke on the injection of additional capital into the company by two entities – Blue Orchard  Blue Orchard through its Insuresilience Fund and Africinvest through its Financial Inclusion Vehicle (Five).

 “… as we unveil our new brand identity, we believe that this brand is a true representation of who we are and what we stand for, a digital, customer-focused company, with great simplified products, a commitment to developing climate-based Agric insurance products, develop simple inclusive products to serve the growing retail market and a customer excellence culture that serves our Corporate customers and Brokers.

“It embodies our core values, our dedication to quality, and our commitment to our clients. It is a beacon of our promise to continue delivering exceptional value and service to our customers and great returns to our shareholders.

“Our new Vision Statement – “To be the preferred Nigerian insurance company” speaks to our desire to be the preferred place to work, the preferred company to place your risk with and the preferred leader in the insurance space in Nigeria; while our new Mission Statement – “To provide innovative and convenient solutions that inspires a future where insurance is simple, empowering and accessible to all” speaks to our drive to make our products and services simple and easily accessible using technology to all Nigerians, individual and Corporate.

“Our Core Values have also been redefined to ensure every staff portrays the key attributes of Resilience, Efficiency, Excellence, Integrity and Teamwork (REX-IT). These core values we intend to drive as our culture that will be reflected in everything we do and will drive all our interactions, with all our internal and external stakeholders.”

She said “The Company has revamped all its locations in Abuja, Port Harcourt, Ibadan, and Benin while setting up services on Ikorodu Road, all in an ongoing process to ensure the same standards across all the locations where we operate.”