Both the Managing Director Mutual Benefit Assurance PLC Segun Omosehin and his counterpart in Mutual Benefit life ,Femi Ashenuga have assured insurance brokers and other members of the insuring public that the companies will not shy away from discharging their responsibilities especially in the area of prompt claims payment and improvement on quality of service delivery .
The duo said come the year 2018, they would put together special thinker team that will enable them rely much more on technology to give excellent service delivery to its customers.
Omosehin,said to operate bigger in Nigerian market and beyond, Mutual Benefit, has concluded plans to raise additional N2 billion capital from capital market by November 2018.
Omosehin, at the 2017 Brokers’ dinner organised in Lagos, said in 2018, the company has set for itself the target of graduating from mini technology to thorough technology driven firm in its operations.
He said Mutual Benefit Assurance, is poised to remain a big player in Nigeria and Africa .
He said Mutual Benefits is unconventional company and thrives more on innovation, adding that currently, the company is desirous of doing those things that are not common with its contemporaries in the insurance market.
According to him,Mutual Benefit is open to new ideas and innovations that can help improve the market and the company’s bottom line.
“If you know those new things you want to introduce to the market, talk to us because that’s what we are interested in.”
According to him, Mutual Benefit’s quest for innovation, has earned it more awards such as the African Insurance Organisation (AIO) “Most innovative Company awards and that last month, the company, also won “Inter-switch most innovative insurance Company awards”.
Omosehin, said these awards were won by the company due to its unique way of doing business in Nigeria and Africa.
According to him not much will be achieved if the industry and its players continue to do things the normal way, adding that when innovation and creativity is introduced to the business, the much desired results will be achieved.
On claims payment, he said the company in the past nine months of 2017 has paid a total of N12.6 billion as claims both for general and life business.
He gave the breakdown saying N1.7billion was paid on non life while N1.5 billion was paid on life business.He also said the company, paid N9.4 billion on maturity and surrenders including deposit admin claims.He assured that the two companies are committed to keeping to the promise of prompt claims settlement to their customers.
Speaking further, the chairman of the company Dir. Akin Ogunbiyi, said that
Mutual Benefits is an institution and a company that has come to stay in Nigeria and Africa. “When we started some 22 years ago, we started small but today, we have moved from small player to bigger player when it comes to insurance business both in Life and General business in Nigeria and Africa.”