Again, insurance thought leaders examine issues in claims management
Business a.m.
October 2, 2023
Business A.M The Nigerian insurance industry has witnessed a significant growth in recent years. However, claims management, which is considered the heartbeat of any insurance company, is fraught with challenges that has contributed to poor image of the industry and low penetration of the insurance services. Modern insurance infrastructure developer,AgentSync defines insurance claims management as […]
Loss control risk management, the next big opportunity for insurers globally
Cynthia EzekweSeptember 25, 2023
By Cynthia Ezekwe. As the world continually experiences technological advancements, comprehensive management of new and emerging risks is fast becoming a necessity for any company aiming to ensure compliance and maintain a strong financial position. This, according to industry experts, is why solutions such as loss control risk management could become the next big opportunity […]
PenCom creates modalities to resolve customers’ plights
Cynthia EzekweSeptember 25, 2023
By Cynthia Ezekwe. The National Pension Commission (PenCom) said it has set up modalities to ensure that issues and complaints by pension contributors and retirees in the sector are resolved satisfactorily within the shortest time possible. Reassuring stakeholders of its commitment to deliver quality service, PenCom disclosed that in keeping to its corporate strategy initiative […]
How cyber insurance can protect Nigeria’s digital ecosystem
Cynthia EzekweSeptember 25, 2023
By Cynthia Ezekwe. The rapid digital evolution in Nigeria has enhanced financial performances of Nigerian companies and businesses through the acceleration of efficient workflows,modernised legacy processes, and consequent profitability. However, the digital ecosystem is a double-edged sword that can result in heavy financial losses through cyber attacks, poor management and unforeseen factors. Thus,it has become […]
Premium flight: Experts weigh in with capacity building, collaboration as panacea
Cynthia EzekweSeptember 18, 2023
By Cynthia Ezekwe. Insurance experts have called on insurers to build capacity, and collaborate to address the high rate of premium leaving their markets to foreign markets. Annually, huge capital leaves the shores of the regional and sub-regional insurance market in Africa, to overseas markets in Europe and America through reinsurance, brokerage business, and underwriting […]
Why insurance remains an ideal adaptation strategy to climate change
Cynthia EzekweSeptember 18, 2023
By Cynthia Ezekwe . Climate change is increasingly becoming an area of engagement by many developing countries, as a result of how it affects many sectors across the globe, which have resulted in the exploration of meaningful options for managing and transferring risks associated with climate change. A 2019 Insurance Banana skins report from […]
Leadway Assurance launches index-based livestock insurance to cushion climate risks
Cynthia EzekweSeptember 13, 2023
By Cynthia Ezekwe. Nigerian Insurance firm, Leadway Assurance has launched an index-based livestock insurance (IBLI) product to provide unprecedented climate-smart risk management support to Nigerian livestock farmers, cattle herders and pastoralists. Index-based livestock insurance is a unique insurance product that relies on real-time data and indices, such as weather patterns and livestock health indicators, to […]
AfDB unveils insurance facility to cushion against climate change impacts
Cynthia EzekweSeptember 12, 2023
By Cynthia Ezekwe In a concerted effort to scale up support to insure countries and households against extreme weather patterns, the African Development Bank (AfDB) has unveiled the Africa Climate Risk Insurance Facility for Adaptation (ACRIFA). The facility expands the bank’s pioneering Africa disaster risk insurance programme into a facility that will develop insurance to […]
AIICO insurance appoints Gbenga Ilori as executive director
Cynthia EzekweSeptember 8, 2023
By Cynthia Ezekwe . AIICO insurance Plc has notified the Nigerian Exchange Limited (NGX), shareholders, and the investing public of the appointment of Gbenga Ilori as an executive director of the Company. The company disclosed this in a statement signed by Donald Kanu, its secretary/chief general counsel and published on NGX platform, noting that the […]
Heirs Insurance records 226% rise in premium to N20bn in 2022
Cynthia EzekweSeptember 5, 2023
…Cements position as Nigeria’s fastest-growing insurance group By Cynthia Ezekwe. Heirs Insurance Group, the insurance subsidiary of Heirs Holdings, a pan-African investment company, announced a record-high 226 per cent increase in Gross Written Premium (GWP) , from N6.1bn in 2021 to N20 billion revenue, for the financial year ended December 31, 2022. This was disclosed […]