We’re here to deliver life insurance solutions in unconventional manner – Enterprise Life MD/CEO

Mrs. Funmi Omo, MD/CEO, on duty for Enterprise Life Nigeria

One of the newly licensed insurance firms in Nigeria,  Enterprise Life Assurance Nigeria Limited, a member of Enterprise Group, Ghana has commenced operations in Nigeria.

Speaking to journalists at the press conference organized to mark the formal launch of the brand in Nigeria in Lagos recently, the Managing Director and Chief Executive Officer of the firm, Mrs. Funmi Omo, gave the vision and mission of the company as well as  insight to what the firm brings to the table, which she said is new life aimed at improving the lives of Nigerians.

She said what Enterprise Life Assurance Nigeria is bringing to the table that is unique from other life insurers in the country are innovations and life insurance solutions that will be provided in an unconventional manner but tailored at meeting customers’ needs, enhance insurance penetration and support the nation’s economy.

According her, “Today marks the beginning of the realization of a dream that we have had almost a decade ago and that tells you the level of our excitement. Today we open our doors for business. It has been months of preparation, consistent brainstorming, endless project meetings, tireless trainings, strategy sessions, policy crafting, and research upon research and now we are “ready”.

“It gives me great pleasure to welcome you to the formal unveiling of Enterprise Life Nigeria. Today, Enterprise Life Nigeria opens its door to the public, with a mandate to make a significant difference in the insurance space and serve our clients.

Managing Director and Chief Executive Officer, Mrs Funmi Omo (middle) flanked left and right by other members of the management team at the launching of Enterprise Life Assurance in Nigeria on Monday March 1, 2021.

“Enterprise is the leading provider of innovative solutions and that is what we bring into the market. We pride ourselves in the fact that we bring a new approach into insurance and that is to ensure that we bring affordable solutions that distill people’s needs and add value.

“We have been on this journey for a long time, as I mentioned earlier, this journey has been on for almost ten years and in the course of the journey, we have to do a lot of market research, to really understand what the challenges are? How is the market stratified? What are the segments that exist? What are the needs in each segment? How can we meet those needs? How can we drive the market? And then how can we provide solutions to those needs?

“So we bring Life Insurance in an unconventional manner, not the normal way it is pushed into the market and that is what gives us the edge to be able to make a difference, not only making a difference but to be different in the life insurance market.”

On the issue of capital base, she said the company is fully capitalized as required by National Insurance Commission (NAICOM) in accordance with the new capital base.

“We pride ourselves by saying that we are able to come into the market at the time when the bar of share capital in the market was being raised, and we have met the requirement. We are coming in fully capitalized as required by the National Insurance Commission (NAICOM) in accordance with the new capital base.

“We are all incredibly charged and ready to make a difference in the industry and bring value to all our stakeholders, from our board to our clients. We will continue to live the mission to provide all who meet us their desired advantage, because, we are the best at what we do,” she promised.

Omo said though Enterprise Life Assurance Company, simply known as Enterprise Life, is new in Nigeria, the company is not new in the Life Insurance business, adding that Enterprise Life has, in key West African markets, built decades of experience and expertise in delivering innovative Life Insurance solutions that support customers’ quest for a fulfilled and quality life across key West African markets.

According to her, Enterprise Life understands that Nigerians are resourceful and ingenious people who need to be supported with the appropriate platforms, products and services that will enable them face the future with confidence. Thus, its business model focuses on the needs of the customer and delivering exceptional value that gives them advantage in the pursuit and fulfillment of their aspirations.

Funmi Omo who is the former Managing Director/Chief Executive Officer of African Alliance Insurance Plc, stated that the company intends to reframe the way Nigerians see Life Insurance by making it an appealing proposition that is easy to accept, embrace and adopt as part of life’s necessities, noting that Enterprise Life is about people and its products are carefully designed to help people plan their lives and fulfill their dreams.

“We will put the customers’ needs at the heart of all operations by delivering life insurance solutions in an unconventional manner. We have a team of trained field officers called Life Planners who just graduated from our Life Planner’s Academy after months of intense training. These Life Planners will sit with customers, take time to understand and distil their needs, and then work together with each customer to develop bespoke solutions that suits their individual needs, lifestyle and aspirations.” she noted

Enterprise Life, according to her, is a member of Enterprise Group PLC with headquarters in Ghana. With roots dating back to 1924, Enterprise Group PLC is a publicly listed, blue-chip, financial services company whose subsidiaries are each market leaders in their fields of Life Insurance, General Insurance, Pensions, Funeral Services and Real Estate.

“After several decades as an industry leader in the Ghanaian market, Enterprise Life expanded into The Gambia where it has equally built a solid reputation for its innovative solutions and excellent customer relationships. Building on its footprints and vast experience, Enterprise Life has entered into the Nigerian market with a mission to deliver customer focused and needs-based Life Insurance services to give Nigerians superior advantage over life’s situations. Nigeria is one of the largest markets across Africa, and we are pleased that our country has welcomed the Enterprise Group with open arms.

Enterprise Life is a multinational brand poised to make a significant impact in the Nigerian market. We bring in our cross-border, expansive experience defined by years of excellent service delivery, and commitment to the lives of people, into the Nigerian insurance industry.…the result, we hope, is that more and more Nigerians will benefit from having insurance coverage to cater to their loved ones and their future.

It is an exciting time for us in the insurance industry. Beyond the regulatory changes that have been made in the past year to encourage the growth of the industry, we have witnessed significant interest of investors in this space.

Enterprise Life Assurance Nigeria Limied pride itself of highly experienced management team including Mrs. Funmi Omo, Managing Director/Chief Executive Officer, Mr. Fem Ogundeji, Executive Director, Technical; Mr. Ben Mensah, General Manager, Distribution; Mr. Dele Akanbi, Head Business Technology Solutions and Mr. Kelvin Techi, Head, Finance amongst other youthful, talented and innovative professionals.