Leadway Assurance Limited, has launched mobile office which it said would amongst other things facilitate easy penetration of insurance to Nigerians.

The company also said that the mobile office, which contains everything found in its normal offices is meant to reduce the cost of setting up conventional offices in different places with staff, in order to reach its target customers in a particular area and serves as research vehicle which would help to underpin insurance potential in a particular area.

Leadway Executive Director, General Business, Ms. Adetola Adegbayi, said the Mobile Office, which is equipped with state of the art communication technology gadgets would allow customers to be serviced real-time, end to end wherever they may be, adding that it would also act as a research tool, which would help the organisation in setting up branches.

According to her, with the mobile office in place, once the organisation, through the help of the office, observes that there is a huge demand for insurance in a particular area, it would move in there to start a satellite office adding that this would guide the company in establishing relevant offices and avoid the mistake of establishing unproductive branches.

According to Adegbayi, this underpins the firm’s capacity to drive retail insurance in Nigeria, as residents can now easily purchase very affordable micro-insurance products such as “Home Flexa” – which offers comprehensive personal/shop insurance coverage protection for home and belongings, including shops, personal accident and funeral expenses at just about N13,000 annually.

Other products available on the Mobile Office, according to her include: the Leadway “Hospital Cash Plan” which provides the benefits for hospitalisation from accidental injuries or illness for as low as N7,000 annually.
She said the team will also sell the Leadway Third Party Vehicle Liability Insurance, basic Life and Life investment linked assurance and other Leadway retail insurance policies.

“For us in Royal Exchange, customer satisfaction is everything. We have an enduring capacity to shoulder our customer’s risk, should they arise and this is further evidence of our financial depth derived from prudent and conservative accounting system, a highly motivated workforce as well as a professionally structured organisation”.

Furthermore, he said: “At Royal Exchange, our core values of relationship, trust, and integrity compel us to always seek ways of optimising our processes to ensure that the customer receives immediate benefit for doing business with us”.

Giving a breakdown of the various amounts paid in the different insurance classes, Agili said that a total of N1.045 billion was paid on Fire and Industrial All Risk (IAR) insurance policies, representing 38.5 percent of the total amount paid to clients at the end of the year. For Motor and Accident insurance policies, he said that N953.76 million was paid to policy holders, accounting for 35 percent of the total sum paid, while Marine Insurance claims took 15.3percent of the total claims paid, which amounted to N415.87 million.

Other classes of insurance with claims payments include Special Risk insurance policies with N277.11 million paid out as claims, representing 10.1 percent of total claims. while Engineering Insurance Policies took N20.08 million and Bond Insurance amounted to N5.27million.

Speaking on the company’s previous actions on claims payment, the Corporate Communications Manager Royal Exchange, Wilson Okoh said the company paid close to N4billion to Nigerian bottling Company for the fire in its Benin plant in 2010 and was the lead insurer in a consortium that paid out over N3.63billion to Friesland Foods West African Milk Company (WAMCO) over the major flood disaster that occured in its Lagos factory in 2011.


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