Lagos — STANDARD Life Assurance Company Limited popularly called SA Life is the product of the buy over and restructuring of the former Foundation Insurance Company. SA Life is today a specialist to Life Assurance Company which commenced full operations in January 2000.

SA Life has successfully complied with the National Insurance Commission's insurance consolidation and recapitalization policies, an achievement which has enabled it to secure the approval to remain in business.

Being a specialist life insurance outfit, the company focuses its business on savings and investment - linked life assurance products as well as group life and annuity policies. Its core values and qualities centre on product innovation and excellent customer service.

The company is a member of Standard Alliance Group, a high profile and technology driven financial services group in Nigeria having interest in Banking, pension, Fund management, Stock brokering, and manufacturing and information technology.

SA Life is a subsidiary of Standard Alliance Insurance Plc which shareholding structure is varied and diverse with few corporate bodies including First Inland Bank which holds above 20 per cent of the issued share capital of the company.

Its target is to become within a record time, a world class insurance company providing customer focused products and services. This, the company intends to accomplish through innovation backed by excellent customer service delivery and the employment of first class human capital and latest technology.

To the insuring public, SA Life promises to be the choice company, providing top of the range life, annuity and other similar financial products and protection at reasonable cost backed with a strong financial security, excellent performance and an unparallel service delivery.

It also promises the employees a highly motivating environment, a place to own and merit-driven outfit and to the shareholders, a valued and profitable investment.

The company's Board of Directors is headed by Ms. Evelyn Oputu, an accomplished corporate executive and retired executive director of First Bank Plc. Currently; she is the CEO of Bank of Industry.

The company has assembled formidable and tested professionals with excellent track records in the industry. SA Life has also undergone transformation processes which have positive effects on every area of its culture, operations and financial performance and has propelled it into a leading life assurance specialist.

With an authorized and paid up share capital of N2 billion, SA Life has an asset base of N2.06 billion as well as a shareholders' fund of same amount. The company is licensed to transact all classes of life and annuity business. These include term assurance, education guarantee scheme, children education endowment, mortgage protection/credit life, key man assurance, group life assurance, deposit linked assurance.

Others include, capital and income plan, standard flexible plan, standard life investment plan, specialized funds, personal provident plan, group life annuity plan for clubs and associations and gratuity scheme.

The company's operation is backed by the financial security of its member - companies leveraging on the group goodwill which cut across all sectors of the economy. The combined asset base of the group of companies is in excess of N120 billion.

The company has equally put in place adequate reinsurance treaty arrangements with first class reinsurance companies. The capacity of its treaties is among the best available in the Nigerian market.

The claim payment policy of SA Life emphasizes expeditious processing and settlement of claims. This is in line with its commitment to ensuring excellent customer service in all its ramifications.

SA Life Insurance Company has new products unit which is structured and manned by experienced personnel to see that the client's insurance portfolio is managed to achieve maximum benefit at a minimum cost.

SA Life is also structured to guarantee excellent service delivery to clients. It runs a lean organizational structure devoid of long chains of command. This eliminates lag time in information processing and feedback. Operational decisions are thus facilitated in the most effective and efficient manner.

Accordingly, the company is structured into various service groups, namely the Business Development Group which has the responsibility to develop and market the company's various life products to clients at the most minimal cost. The Group owes a duty to educate and explain the various products features. It also offers customized products to meet the needs of specific clients. Its guiding principle is all about excellent customer service.

Other groups include customer care group and technical operation group, which provide the operational service back up to the company. They are charged with the responsibility of delivering the final product to the insured and implement the commitments secured by the business development group. Their primary focus is to ensure that the company delivers to time on each promise made to clients and in particular ensure that claims are processed and settled expeditiously.

Mr. Isire is the managing director of SA Life Insurance Company. He is a professional of long standing. He understands the insurance terrain so well that he now engineers SA Life into impacting more positively on the people that it serves.

Mr. Isire holds masters degree of business administration from Delta state university and is a fellow of Institute of Chartered Accountants of Nigeria, associate member, Chartered Institute of Taxation of Nigeria and Chartered Insurance Institute of Nigeria (CIIN).

He started his insurance career with Globe Reinsurance Plc in 1987. Consolidating on the industry experience, he moved to Standard Trust assurance Plc as the head of finance. He was later to join BAICO Insurance from where he was appointed managing director of SA Life Insurance.