Mutual Benefit Assurance plc, said it has taken immediate steps to investigate and prosecute perpetrators of reported unethical and fraudulent practices allegedly uncovered in the company.

The company, in a statement signed by its Head, Corporate Communications, Ellen Offo, on the issue stated;
“Our attention has been drawn to an online publication alleging unethical practices going on in Mutual Benefits”.

“While there was no mention of any specific member of staff in the report, we do commiserate with the customers involved and we have taken immediate steps to investigate and urgently look into the issues raised in the report. We use this medium to assure our numerous customers that we shall prosecute anyone found to be complicit.”

Offo, said Mutual Benefits Assurance,has zero tolerance for fraud; therefore her company,viewed the report with grave seriousness.

According to her,as a deterrence, Mutual Benefits, has instituted a policy against payment of cash to members of staff adding that the accepted mode of payment is clearly stated on all proposal forms of the company and policy documents.

She said in addition, Mutual Benefits, has put in place secure and convenient cashless means of payment of premium such as direct debit, bank branch pay-direct, web-pay, online transfer, along with its third party insurance scratch cards.

She informed that Mutual Benefits has operated for over twenty one years in the insurance landscape as a leading brand in the Nigerian Insurance sector with a reputation for speedy claims settlement and excellent service delivery.

“Mutual Benefit is strong, well-capitalised and committed to protecting the interests of our customers at all times. Between January and February this year, claims paid are in excess of N3 billion, while over N50 billion was paid as claims settlement between 2012 and 2016 across our business lines. This is a testimony of the value we place on our customers and their needs”, Offo said.

She said while the company encourages its esteemed customers to make use of the several cashless channels of payment it has put in place and to keep track of their transactions; the company,unequivocally cherishes its customers assuring them of the safety of their funds and investments.