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NSIA Insurance Limited, said it has paid over N3 billion claims to customers in 2017 and 2018 as part of its commitment to prompt claims settlements.
According to the composite insurance company, N2.4 billion claims was paid to customers in 2017 while over N679 million was paid in 2018.
In a statement, the firm said, “an analysis of the claims payment in 2018 across different class of business are as follows; a total of N224.3 million on General Accident Insurance policies, N257.8 million on Motor Insurance policies and N15.1 million on Engineering Insurance policies. A total of N65.6 million was paid to policyholders for Fire insurance while N46.7 million was paid on Marine policies while Oil & Gas insurance policies was N69.9 million.”
Commenting on this, Managing Director/CEO of the company, Ebelechukwu Nwachukwu, said, “Our commitment to paying genuine claims promptly is part of the characteristics of NSIA Insurance Limited. Our claims process is seamless and pacifying as the requirements are easy and not far-fetched.
“NSIA Insurance is equipped technically and financially to handle all classes and volumes of insurance risks, with the required capital base for life and general insurance business.
“Backed by outstanding reinsurers as well as a highly competent and efficient board and management made up of economists and premium professionals in the financial and insurance space, NSIA Insurance is poised to meet up with the challenges of the 21st century Nigerian Insurance Industry”, she stated.
Nwachukwu added that, in keeping with the commitment to render stellar customer service to clients and in line with the quality objectives to pay claims within 48 hours following the receipt of the signed discharge voucher, policy documents which houses the terms and conditions of each policy are explicit and concise; and the company is equipped with branches nationwide and other unrestrained communicative channels, to ensure it is always at clients’ beck and call to provide clarifications and guidance through processes, when there is a need.
