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The Sovereign Trust Insurance’s (STI) consistency, professionalism, integrity, as well as uncompromising stance for providing far-reaching retail products and services has earned it another award.
This time around, the company won the 2018 Annual Lecture/Awards organised by Egelon Communications Company, Publishers of Business Journal, a comprehensive Insurance and Pensions magazine.
The award was in recognition of the immense contributions of the organisation to the development of retail and affordable insurance products to the insuring public. The event, which was chaired by the chairman of the Nigerian Insurers Association(NIA), Mr. Tope Smart, was also attended by captains of industry, brand management and marketing practitioners, the media and members of the public.
The criteria for the award, according to the technical/award committee, included efficiency in service delivery, creativity in product development, branch network, the use of technology, media presence of the brand adherence to ethics and corporate governance and the quality of human resources available to the organisation within the period of the nomination and the screening process.
Managing Director of Egelon Communications Company, Prince Cookey, said the screening process for the companies nominated for the award was carried out by a group of seasoned brand management and marketing consultants and notable members of the public. “It was a very rigorous process in determining the eventual winner for the award but at the end of the day, Sovereign Trust Insurance Plc was adjudged by all as the winner for the award category in question”.
Cookey, however, stated that insurance companies still need to do a lot of work in terms of product development that will impact positively on the lives of the average Nigerian as insurance in the country is still viewed by many as a service for only the rich.
Sovereign Trust Insurance launched a Personal Accident Cover with the acronym SWIS-F, (Sovereign Wellbeing Insurance Scheme for the Family) with an annual premium of N1,500 for adults and N250 for children under 6-17 years with benefits to cover medical expenses for injuries sustained as a result of an accident, permanent disability compensation, burial expenses with a nationwide geographical coverage.
