Invest in insurance coverage to protect your assets, valuable – CEO Stanbic IBTC Insurance Brokers

LAGOS, Nigeria – The need for Nigerians to invest in insurance coverage to protect their assets and valuables has been emphasized. Mr. Anselem Igbo, Chief Executive Officer, Stanbic IBTC Insurance Brokers Limited made the appeal at a media parley to mark World Insurance Awareness Day with the theme “Insurance being a necessity”: Securing the future, protecting what’s important”.

According to him, World Insurance Awareness Day is commemorated each year on 28 June, to evaluate the insurance industry and sensitise the public on the need to have insurance covers or review existing ones.

He said that plans by Stanbic IBTC Insurance Brokers to improve clients’ experience are gradually coming to fruition.

 Part of the package include dynamic functionality, easy and prompt log-in capability and even facial and fingerprint biometric recognition.

“Also think enhanced data protection and ease of reviewing purchased policies and status of claims all from one easy platform and you start to get a sense of the simplicity that we are bringing to our clients in this market. Do keep an eye out as these solutions will be announced in the coming weeks”, he said.

Insurance, he said plays a critical role in promoting economic growth and development by ensuring efficient allocation of financial resources from the surplus to the deficit unit and ultimately bulwark for business sustainability.

“The recognition of the Insurance Awareness Day offers a chance to get familiar with available and accessible insurance covers and to stress the importance to always evaluate present belongings and the corresponding covers they need. In addition, the World Insurance Awareness Day reminds us of the need to engage the services of brokers for favourable quotes for various insurance classes that suit their needs”, he advised.

He said insurance penetration in the country is at an all-time low and that the development isn’t favourable for the well-being of individuals, businesses and the economy in general.

He identified insurance business as a unique one which enables clients effectively manage their risks such as theft, accident, robbery, injury, man-made and natural disasters, and even death. “Insurance helps to achieve peace of mind through risk transfer and efficient insurance claims”, he said, adding that the paramount focus of Stanbic IBTC Insurance Brokers has since been to address identified needs in the insurance brokerage sub-sector and ensure that Nigerians are adequately protected.

Stanbic IBTC Insurance Brokers is a member of the over 156-year old Standard Bank Group to which Stanbic IBTC Holdings PLC belongs, Mr. Igbo said and that it will continue to adopt global best practice in its operations, including exceptional quality of service and facilitating prompt payment of claims for clients.

“Our solutions serve individuals and corporate entities, as well as existing customers and non-customers of the Stanbic IBTC Group. As insurance professionals with a vast knowledge of the workings of the insurance market, we can arrange the most suitable policies for our individual and corporate clients”, he said adding that there are various personalised insurance products and services which serve all classes of the society from individuals to groups, associations and large corporates.

 He said that the Stanbic IBTC Insurance Brokers offers life, hope and support particularly in the wake of the current global pandemic.

“We will not relent in our effort to continually seek opportunities to help businesses, individuals and even the government boost resilience in these times. We remain keen on providing seamless solutions that suit diverse needs”, he said.

Speaking more on the importance of Stanbic IBTC Insurance Brokers,  Head Claims, Adebisi Oresanya said the organization comes to the aid of clients in the event of loss and documentation and that for prompt payment of claims, the firm engages the services of trusted underwriters.

 For Ibraheem Kadiku, Head, Underwriting, Stanbic IBTC Insurance Brokers has also worked with clients to design policies to cover liability, adding that the firm  works with international partners for prompt settlement of claims.

In her contribution, Ibiyemi Mezu, Head, Business Development Division said Stanbic IBTC Insurance is ahead when it comes to digitization and that in the coming months the brand will be launching an application to ease the process of documentation and transactions with clients and to make access to insurance products and services seamless.