Insurers deploy premium payment channels to new work order

The traditional channels of distribution for insurers that were disrupted due to the lockdown have been revamped to include more digital tools for acquiring. Photo: MICROINSURANCENETWORK

By Bankole Orimisan

To cope with the challenges posed by the outbreak of the coronavirus especially in Nigeria, operators in the insurance industry are beginning to upgrade their digital capabilities and platforms to effectively serve customers, through various payment channels. With the federal and some state governments entrenching physical and social distancing rules to limit human physical contacts to curb the spread of the virus, The Guardian gathered that insurers opted to leverage online channels to increase the sale of policies and pay claims emanating from insured risks.
Speaking in an interview with The Guardian on the development in the industry, the Managing Director/Chief Executive Officer, FBNInsurance Limited, Val Ojumah, said the pandemic and subsequent lockdown have given the push to operators to completely digitalise the process of selling and servicing customers.
The traditional channels of distribution for insurers that were disrupted due to the lockdown have been revamped to include more digital tools for acquiring, retaining, and servicing customers.
In view of the outbreak, most companies globally are adapting to the new norms of working and seeking alternative ways of reaching their customers.
Ojumah, stressed that to comply with the new work order created by pandemic, FBNInsurance, upgraded its digital capabilities and platforms to adequately serve its customers, especially its payment channels in line with the new normal.
Various payment channels have been introduced to customers to ensure premium payments are made with ease and on time to enable customers to enjoy the benefits of various insurance policies held.
Through their various online platforms, insurers assure their readiness to fulfill their obligations to their customers by ensuring the most valued assets and safeguarding their future.
The Managing Director/Chief Executive Officer, Great Nigeria Insurance (GNI) Plc, Mrs. Cecilia Osipitan, who also spoke to The Guardian, said: “In an effort to stay true to the commitment of delivering quality service to valued customers, alternative service channels have been made available for access to all insurance products and services available under the stable of GNI Plc.”
Similarly, Unitrust Insurance Company Limited also provided alternative communication lines to interact with its policyholders and stakeholders, to continue to serve customers and the business community better and align with the current trend.