Daily Independent (Lagos)
7 January 2009
Insurance PHB has concluded arrangements to introduce new products into the market this year, the company's Managing Director, Mrs. Cecilia Osipitan said.
Osipitan, who spoke in Lagos, informed that the new products to be unveiled are designed to create vast opportunities to all categories of Nigerians to have one form of insurance cover or the other.
She said in realisation of the fact that the insurance industry in the country has not been given the required attention, the time has come to make a change, stressing that Insurance PHB is set to lead in this crusade in the area of mass marketing and taking insurance awareness to the doorstep of every Nigerian.
The insurance company, which is an associate company of Bank PHB, recently moved its Corporate Head Office from Victoria Island to Ikoyi, Lagos, in line with its determination to render more qualitative services to its customers.
The massive four-storey structure, which had housed one of Bank PHB's biggest branch and operational offices nationwide before the last recapitalisation, was handed over to the management of Insurance PHB by its mother company, Bank PHB Plc, to give it requisite corporate image and comfort to accommodate its currently expanding workforce aimed at achieving its target of becoming one of the biggest players in the country's insurance industry.
Insurance PHB, which recently won the Institute of Direct Marketing's Best Customer Service Award in the insurance industry, is planning a massive branch expansion in 2009 tailored alongside Bank PHB's expansion programme, which has seen the bank open offices in some African countries.
The Insurance PHB boss disclosed that the underwriting outfit within the first few months she had been saddled with the headship of the company paid about N400 million in claims settlement. She assured that the company is much more determined even in 2009 to use prompt settlement of insurance claims to achieve good mileage towards the realisation of the firm's targeted premium income drive.
It was also revealed that Insurance PHB has advanced work on an Automated Claims Settlement System (ACSS), a technology, which would enable any customer anywhere in the world report online any claim and also have access to the requirements that would lead to a total complete claims processing and final settlement.
Against this background and the quality workforce at the company's disposal, she, however, called on brokers and members of the insuring public to trust and patronise Insurance PHB in 2009 and expect nothing less than the best in customer service.
Insurance PHB Limited, which had won the ThisDay Best Insurance Company of the Year 2008, had in the last quarter of 2008 begun free accident safety training for truck and tanker drivers nationwide. Osipitan confirmed that the training will continue with the northern zone in 2009.
The idea, according to the company's CEO, is to reduce the spate of fatal road accidents that have led to loss of lives and properties caused by the drivers, who she said need continuous re-orientation and retraining.
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