To Clear Outstanding Claims, IGI Commences Batch-By-Batch Payment

Respite has come for claimants of the Industrial & General Insurance Plc. (IGI), as the company has taken steps to expedite the clearance of outstanding claims.

A statement by the firm stated that as part of the efforts, due and substantiated claims will now be settled in pre-determined batches.

The new management of IGI indicated that the batching of payments takes immediate effect.

The company structured the batch-by-batch system in order to ease the processing of the claims and ensure seamless disbursement, while allowing for verification and clearance of requisite documents.

Consequently, claimants have been grouped into batches and verified obligations in the surrender, maturity and other categories are now being paid in turns. The initial batches have now been deployed and there is an assurance to adhere strictly to the structured approach and that each batch of claimants will be contacted as the exercise progresses.

The management deeply appreciates the patience of the claimants thus far and regrets the inconvenience occasioned by the delay in payments. IGI had recently affirmed its capacity to meet the obligations, stressing that it paid over N1 billion as claims in the past 15 months.

IGI will continue to consolidate relationship with our partners, even as we keep faith our renewed commitment to best standards, expeditious and satisfactory service delivery.