10 October 2011

Nigeria: NICON to Unveil New Insurance Products

NICON Insurance Plc has disclosed plans to introduce at least two new insurance products to the insurance market to further maintain its flagship in the insurance industry.

The managing director of the company, Mr. Emmanuel Jegede, made the disclosure recently while hosting members of the Abuja Chapter of Nigeria Corporation of Registered Insurance Brokers (NCRIB).

Jegede said the company's innovativeness and good marketing strategies were reasons the insurance firm still stood tall in the insurance industry.

Two insurance products will soon be introduced into the insurance market. We have put in place numerous strategies that will make us remain the leading edge of the market competition. We shall soon invite you to the launch of these products", he said.

Jegede noted that the company has also decentralised its operations nation-wide, which according to him, 58 branches and six regions are now being manned by regional general managers.

He added that the branches and regions were set up mainly for effective customers' service.

Jegede assured the insurance brokers of prompt payment of their commission, noting that NICON was ever ready to pay brokers' commission as at when due.

He said over N1.8 billion has been paid to its numerous clients from January till date, adding that N2.5 billion was paid in year 2010.

The Chairman, Abuja Chapter of NCRIB, Mr. John Ugochukwu Ibe, commended the company's bold step to host and interact with brokers.

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