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By Henry Uche
Universal Insurance Plc has widened its digital portfolio with “OkadaPass,” a one‑stop policy that insures the motorcycle, its dispatch rider, the parcel in transit, and covers personal injuries for everyone in the bike‑delivery value chain.
The product was recently introduced in Lagos by the Managing Director/Chief Executive Officer, Dr. Jeff Duru, at the 2025 Annual General Meeting of the Nigerian Association of Insurance and Pension Editors (NAIPE), co‑sponsored by the company.
Duru also showcased “Shop Insure Cover,” crafted for shop owners and other small‑ and medium‑scale traders. The policy bundles protection against fire and burglary with personal‑injury benefits and pays for temporary premises if relocation becomes necessary.
Financially, he said Universal Insurance surpassed its first‑quarter target, closing Q1 2025 with N8.07 billion in Gross Written Premium (GWP).
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He said: “Last year, we recorded N15.25 billion in Gross Written Premium (GWP), and profits After Tax (PAT) of N2.8 billion. Our shareholders’ fund as at the first quarter is in the neighbourhood of N16.4 billion, when compared to N13.25 billion, reported in 2024. We are charged to serve the public better to make them have that experience. Our claim payment is top‑notch, our services are top‑notch and we are fully computerised.”
“All our Personal Line Products are digitised. You can go through our website, access our products, get your quotes and make payment seamlessly, and you can also initiate claim payment and we follow it up at the backend. We have come to stay and serve the industry, give them peace of mind, excellent customer experience, and that is what we are doing.”
“As at the first quarter, we have produced N8.07 billion in terms of GWP, and that is about 130% of our first‑quarter target. We are progressive and highly innovative, and bring insurance to the doorstep of our customers, with seamless operations, accessibility and affordability. Our products are very affordable, anyone can try us and you will get the best service with peace of mind.”
He added that a new customer portal, mobile app and AI‑powered chatbot now deliver round‑the‑clock self‑service: “We have our digital chatbot or Artificial Intelligence (AI) driven chatbot and visual assistant. That is 24/7 services that will take the position of our service centers at any point in time. Our chat box will deliver fantastic experiences to the customers of both chat and voice services.”
Motor‑policy holders, he noted, no longer wait for manual inspections: “We have our digital pre and post loss survey, especially for motor vehicles. The era of manual intervention of inspecting vehicles is over. Once you want to insure your vehicle, our survey team will deploy the digital portal for the AI‑driven portal to you through your phone, and you will use your phone to do the physical inspection of your vehicle.
“Even when there is a claim, it will still be deployed to use it to do your inspection, and the information will come to our database, and we see everything. This upgrade cuts down fraud, manpower time use, reduces cost and gives you that excellent touch with speed of service for our claim delivery. These are part of the advantages that come from that service.”
