By LOVETH AZODO, Lagos.
Universal Insurance Plc has reaffirmed its commitment to sustaining its long-standing partnership with the Nigerian Association of Insurance and Pension Editors (NAIPE), while positioning itself as a frontrunner in digital transformation and fast claims innovation within Nigeria’s insurance industry.
Managing Director and Chief Executive Officer of the company, Jeff Duru, disclosed this during a courtesy and appreciation visit by executives of NAIPE to the company’s head office in Lagos.
Duru said the insurer remained committed to strengthening its relationship with the media, describing the partnership as a legacy established by his predecessor, Ben Ujoatuonu.
According to him, the relationship built over the years between Universal Insurance and insurance journalists has contributed significantly to the visibility and growth of the company.
“My predecessor, Mr. Ben Ujoatuonu, created this valuable relationship with NAIPE. When I joined the company, he explained to me the nature of the relationship the company has with the media. That legacy he created is one we will continue to uphold and ensure it never declines,” Duru said.
He added that the company would continue to deepen the relationship to ensure mutual success for both organisations.
Beyond stakeholder engagement, the Universal Insurance boss used the occasion to highlight the company’s growing digital footprint, revealing that the insurer pioneered fast claims service in Nigeria’s insurance market.
According to him, all the company’s personal line insurance products have now been fully digitised, enabling customers to purchase policies online without physical interaction with staff.
“In terms of digitalisation, we are already there. All our personal line products have been digitised. Customers can visit our website or portal and purchase products seamlessly without physical contact with our staff,” he stated.
Duru noted that the company’s digital fast claims initiative had continued to receive positive feedback from users, particularly through online survey and claims processes, adding that other operators in the industry were beginning to adopt similar models.
He further disclosed that the insurer was preparing to launch an Artificial Intelligence-driven platform after concluding its recapitalisation exercise, describing the planned rollout as a significant development for the Nigerian insurance industry.
“Artificial Intelligence is another area we are championing. Once we conclude the recapitalisation process, we will launch our AI-driven platform, which will be a major development for the industry,” he said.
Speaking on the ongoing recapitalisation exercise in the insurance sector, Duru expressed confidence that Universal Insurance would emerge stronger and better positioned for expansion.
He explained that recapitalisation would strengthen the company’s underwriting capacity and create opportunities for expansion into new business areas aligned with its strategic vision.
“At the end of the recapitalisation exercise, Universal Insurance will become significantly bigger in every respect. The beauty of recapitalisation is that it strengthens capacity, enabling companies to expand operations and venture into new areas aligned with the board’s strategic vision,” he added.
Industry stakeholders say the growing adoption of digital platforms and AI-driven solutions by insurers could accelerate operational efficiency, improve claims experience, and deepen insurance penetration in Nigeria’s evolving market.
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