AIICO insurance Plc, is championing the course of retail insurance through distribution of insurance services in major markets in Lagos.
The company, is currently doing this under what it tagged ‘Market Storm’ with a team of trained retail insurance marketers.
The initiative, is intended to educate the traders in the market on the strategic role of insurance and its numerous benefits.
The plan, is aimed at bringing insurance closer to the market men and women who are involved in retail and micro businesses through the provision of tailored insurance services that suit their needs.
The program, also gives room for market feedback that can be used for further products development by the company.
AIICO, recently stormed Tejuosho market with the initiative, which offers basic retail products to the market traders that guards against business and personal risks.
During the adventure, the company, has in its kitty, products such as AIICO Fire Insurance policy tailored for Shop Owners, AIICO Shield Personal Accident Insurance, AIICO Householder (Home) Insurance and AIICO Auto Insurance.
The company, during the adventure, reminded the traders that despite the fact that no one plans to loose his means of livelihood to fire, flood or any form of natural disaster, these occurrences, happen daily, resulting in loss of financial investments, revenue, closure of business, shock and grieve, inability to start business again.
Leader of the team, Taofeek Ayeni, representing the non life retail team of AIICO, told the traders that AIICO Fire Insurance for Shop Owners provides compensation up to the tune of N2million in the event of stocks, materials and/or wares in traders’ shop being affected by fire.
He said benefits includes compensation for fire & special perils, permanent disability, medical expenses & public liability.
Ayeni, said AIICO Shield Personal Accident Insurance, is designed to provide insured accident victim with access to some level of compensations for death, disability and medical treatment for injuries following accident.
He said benefits includes compensation for death, temporary and permanent disability & medical expenses.
There is also AIICO Householder (Home) Insurance designed essentially for those living in rented apartment to cover their contents only against loss as a result of fire & special peril and burglary. The benefits include, compensation to the tune of N2million for fire damage, N1million for burglary, rent for alternative accommodation, public liability, permanent disability, death, & medical expense as a result of the incidence.
AIICO Auto Insurance, he said, is designed with flexibility to sooth the pocket of an insured and guarantees cover for accidental damage, theft, third party property damage, bodily injury and death, medical expenses,
He said the product comes in the variants; such as Auto Regular, Auto Basic, Auto Classic, Auto Deluxe & Auto Royale.
Ayeni, said AIICO, has targeted to take the above products to 20 markets in Lagos and that the company at Tejuosho market has targeted 60 percent of the traders buying the company’s products.