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AIICO to roll out more insurance products

AIICO Insurance is to roll out more insurance products, as dictated by needs in the economy..

The Managing Director, AIICO, Mr Edwin Igbiti, said the underwriter sees insurance as relevant to economic development and there was the need to develop more of its products to optimise the relevance.

The AIICO boss said the agricultural insurance products rolled out by the company on Oct.10 was a response to losses incurred by Nigerian farmers.

He explained that the recent loss of farm produce to flood called for a rethink, especially, knowing that many of the farmers affected did not insure their crops.

‘However, AIICO wishes to equally sympertise and encourage them to take advantage of the agricultural insurance solutions by AIICO,” he said .

Igbit said the underwriteris uniquely positioned to offer both indemnity and index based agricultural insurance product to farmers at all levels as well agricultural sector investors.

He further said the company has launched “AIICO Integrated Customer-Focused Contact centre” (AIIContact) to enable it deliver positive experience across all touch points and offer superior service to its customers.

He posited that “AIIContactt” was part of its plans to offer best services to customers and prospective ones.

“Besides, AIICO, also embraced technological innovations to enable it establish direct and unified contact with its customers,” he said

He further confirmed that the company is efficient in claims payment and giving back to its share holds .

“Living up to its promise of safety and being reliable risk manager of repute, AIICO was able to pay over N44.265 billion claims within a period of 33months.

“In 2015, gross claims paid for both life and non-life was approximately N13.045 billion.

“In 2016, gross claims paid increased to N14.571 billion and as at third quarter of 2017, AIICO’s gross claims paid stood at N16.649 billion,” he said.