AIICO Pays Over N200bn in Claims and Benefits Over Five Years

By LOVETH AZODO, Lagos

The management of AIICO Insurance Plc has announced that the company surpassed N200 billion in claims and benefits payments over the past five years, highlighting its commitment to prompt and reliable service.

In a statement signed by its Head, Digital Marketing & Communication Segun Olalandu, the company revealed that in 2019, they paid N30.6 billion as claims and benefit to its Policyholders, in 2020, they paid N31.6 billion, in 2021, they paid N47.3 billion and in 2022 they paid N44.9 billion while in 2023, the company paid N46.5 billion

According to the statement, the Comprehensive, review of AIICO’s settlements from 2019 to 2023 shows a consistent focus on timely disbursement to both retail and corporate clients.

It stated “This achievement reflects AIICO’s dedication to financial security and customer satisfaction.”

Managing Director/CEO AIICO, Babatunde Fajemirokun emphasized the company’s customer-centric approach, stated, “At AIICO Insurance, our customers are at the heart of everything we do. We exist to serve and protect them, ensuring that their genuine claims are settled swiftly and fairly.”

AIICO’s robust claims management and commitment to service excellence have reinforced its position as a trusted partner in safeguarding the financial well-being of individuals and businesses.

The company’s focus on integrity, professionalism, and customer-centricity underscores the importance of timely and fair claims payments, especially during challenging times.

Fajemirokun also highlighted AIICO’s ongoing efforts to leverage advanced technology and innovative solutions to enhance claims processing capabilities.

“Our goal is to provide an even more seamless and efficient experience for our customers, ensuring that they receive the support they need when it matters most,” he added.