“Universal Insurance and Insurfeel Initiative Secure Educational Future: 27 UNILAG Students Receive N68.85 Million in Insurance Coverage”

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Beneficiaries displaying their insurance certificates at the event.

 

 

 

In a landmark partnership, Universal Insurance Plc and the Insurfeel Initiative made a significant donation, providing insurance coverage valued at N68.85 million to 27 students of the University of Lagos (UNILAG). The donation ceremony, held at UNILAG Campus in Akoka, Lagos, served as a proactive measure to assist students in mitigating risks while simultaneously enhancing insurance penetration across Nigeria.

 

 

 

 

Each of the 27 beneficiaries, along with their caregivers, received comprehensive coverage totaling N2.5 million. This coverage breakdown included provisions for medical expenses, permanent disability benefits, and death benefits for both the student and their parent or caregiver.

 

 

 

 

 

Speaking at the event, Mr. Ben Ujoatuonu, the Managing Director/CEO of Universal Insurance Plc, expressed the company’s enthusiasm for collaborating with the Insurfeel Initiative to extend insurance coverage to uninsured Nigerians. He highlighted that the donated covers specifically targeted executive members of various departments within the Faculty of Management Sciences at UNILAG.

 

 

 

 

Mr. Ujoatuonu emphasized that the insurance policies provided coverage for one year, coinciding with the beneficiary’s tenure in their executive position. He underscored the company’s commitment to promoting financial security and education among Nigerian students.

 

 

 

 

In his address, Prof. Sulaimon Abdul-Hameed, the Dean of the Faculty of Management Sciences (represented by Dr. Samson Ogege), commended Universal Insurance Plc and the Insurfeel Initiative for their innovative approach to student welfare. He emphasized the importance of this initiative in not only educating students about insurance but also ensuring their academic continuity despite unforeseen financial challenges.

 

 

 

 

Echoing similar sentiments, Mr. Tope Adaramola, representing the Nigerian Council of Registered Insurance Brokers (NCRIB), praised the initiative for its potential to transform the insurance landscape in Nigeria. He emphasized the economic significance of insurance in providing financial stability and urged other corporate entities to support similar initiatives as part of their Corporate Social Responsibility (CSR) efforts.

 

From left: Head Retail Universal Insurance Plc, Tony Okafor; Sub Dean, Faculty of Management Sciences, University of Lagos, Dr samson Ogege; Managing Director Universal Insurance Plc, Benedict Ujoatuonu; President, Faculty of Management Sciences Toriola Isaac; Head Corporate Affairs, Nigerian Council of Registered Insurance Brokers, Dele Ayeleso and Promoter Insurfeel Initiative, Chuks Udo Okonta at the event.

 

The Promoter of the Insurfeel Initiative, Mr. Chuks Udo Okonta, highlighted the unique “Suya Strategy” employed by the initiative to increase insurance penetration and education. He expressed gratitude to both the University of Lagos and Universal Insurance Plc for their collaboration and pledged to continue efforts to provide insurance coverage to the uninsured.

 

 

 

 

In a show of appreciation, Bada Solomon, Vice President of the Association of Management Sciences students, thanked the initiative’s promoter for the invaluable coverage provided, emphasizing its potential to reduce school dropout rates nationwide. He encouraged the Insurfeel Initiative to extend its reach to other higher institutions across Nigeria.

 

 

 

 

The donation event concluded with a resounding message of hope and empowerment, as stakeholders pledged their ongoing support to initiatives aimed at securing the educational future of Nigerian students through comprehensive insurance coverage.


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