Despite its over 2,000-man strong retail team, FBNInsurance Limited is increasing its investment in retailing to reach every part of the country, the Managing Director, Val Ojumah, has said.
Ojumah, who spoke at the company’s headquarters in Lagos, said this was part of the company’s strategic plans for the year.
He said the firm’s commitment to take insurance to the nooks and crannies of the country indicated its willingness to go the extra mile in providing affordable and responsive insurance to the hitherto uninsured.
He said: “Our strong presence in the retail space cannot be disputed. In spite of the number of insurance companies in Nigeria, we are yet to scratch the surface in terms of the potential of the market.
“As a company, we are looking to consolidate our retail presence, improve on our delivery time and achieve a most effective process for our key functions and deliveries.’’
On the company’s performance in the outgone year, he recalled it was a tough year, one in which inflation figures maintained double digits.
“Various reports have indicated an increase in claims settlement across the industry and massive job losses due to the economic meltdown, which further put a strain on industry. It is a tough time to do business in Nigeria. However, at FBNInsurance, we have kept to our philosophy of doing what we say. We think highly of our customers; come what may, we will always put them first.”
Head of Marketing and Corporate Communications, Elizabeth Agugoh, noted that the company in just six years of incorporation consistently delivered outstanding performance even in light of dwindling economic fortunes of the past two years.
This has been attributed to a strong heritage and an unwavering commitment to the provision of innovative, affordable and accessible insurance packages, she added.
FBNInsurance Limited, an FBNHoldings company, is associated with the Sanlam Group South Africa.