AXA Mansard Opens New Office in Ibadan

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AXA Mansard insurance has opened a new office in Ibadan, Oyo State.

The company said this was part of its effort in driving insurance penetration in Nigeria.
The new office, according to the Chief Customer & Marketing Officer of the company, Jumoke Odulami, is another demonstration of AXA Mansard’s commitment to drive penetration of insurance in Nigeria by bringing services closer to the people.

Odunlami noted at the grand opening of the Ibadan office recently that growing the company’s footprint nationwide with offices and welcome centres was part of it’s phygital strategy.

“Our vision as an organisation is to move from being a payer to a partner of our customers. We understand that to make good this promise, we must stay closer so we can always be there when our customers need us. So, in addition to our continued investment in digital and technology to serve our customers, our network of offices nationwide are designed to give our customers a personal touch”, she said.

Also, speaking, Head, Retail Solutions Division of the underwriting firm, Adeola Adegbanjo, said the opening of the office and others like it nationwide would help AXA Mansard support, interact and engage with its customers better.

‘This location will bring us closer to our esteemed customers in Ibadan and its environs and beyond that, is that it will make insurance products available, accessible and contribute to driving penetration of insurance in Nigeria. Our goal is to through initiatives like this increase the confidence of our customers to take on opportunities for progress, while we take care of the uncertainties that come with life on their behalf”.

He added that the new office was open to walk in customers on weekdays between the hours of 8 am and 5 pm and has created an enabling environment for customers to interact with the company’s team of highly qualified staff.

Linkage Assurance Grows Premium by 34% in 2021

Underwriting firm, Linkage Assurance Plc in the 2021 financial year recorded a 34 percent growth in gross premium written (GPW).

The company said it achieved this despite the challenging business environment.

The underwriting firm grew its GPW from N8.33 billion in 2020 to N11.16 billion in the 2021as contained in its unaudited financial statements for the period ended 31 December 2021 made available to the Nigerian Exchange Group (NGX).

Its gross premium income was N10.57 billion as against N7.95 billion in 2020, a 33 percent increase.

Linkage Assurance during the review period sustained efforts at growing its balance sheet, as total assets grew to N34.85 billion, as against N33.88 billion in 2020.

The year under review was challenging in terms of technical underwriting, pushing net claims ratio up to 71 percent from 31 percent in 2020 largely due to major claims paid during the period such as claims arising from End-SARs protests and catastrophic losses in Oil & Gas and Manufacturing sectors.

Management of Linkage Assurance led by Daniel Braie said it would continue to refine its strategy in line with the political, economic, sociological and technological changes in the industry particularly the impact of Coronavirus (COVID-19) pandemic on the business landscape.

“We will also continue to develop innovative products, alternative channels of distributions and strategic initiatives that will enable us achieve our corporate goals and objectives. With a medium-to-long term perspective, we believe that we will benefit from growth in these initiatives, Daniel Braie, MD/CEO of Linkage Assurance Plc stated.

Linkage has continued to expand its retail market with tailor made products that meet the needs of her teaming customers. Some of the products include the Linkage Third Party Plus, which is a budget friendly motor insurance that provides not only the compulsory Third party protection but also an additional own damage protection to the tune of N250, 000. This product is only available from Linkage Assurance Plc.

Others are the Linkage SME Comprehensive, Citadel Shield (which provides compensation as a result of injuries from accident for pupils and students in recognized academic establishments); Linkage Events Xclusive Insurance, Linkage Shop Insurance, Purple Motor Plan (comprehensive motor cover exclusively for women), and the Linkage Estate Insurance.

“We have continued to make efforts to enhance our online portal to make our products and services available to our customers especially the digital savvy customers and enterprises, Braie stated.

“In line with the vision statement, we have embarked on extensive digital transformation, this is expected to be one of the major drivers of operational efficiency as it will improve our business process, eliminate wastages, and positively impact our performances,” he also said.

On Agric Insurance, the company said that in line with its strategic focus, it has developed a bouquet of Agricultural Insurance products as risk management initiatives for both small, medium and large-scale farmers and agribusiness. These include Livestock Insurance Solution, Multiperil Crop Insurance Solution, Fish Farm & Fisheries Insurance, Poultry Farm Insurance, Area Yield Index Insurance and Farm All Risk (Material Damage).


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