Heirs Insurance, Heirs Life plan to disrupt market begins with policy sales digitization
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Heirs Insurance Limited (HIL) and Heirs Life Assurance (HLA), the subsidiaries of Heirs Holdings, a pan-African investment group with presence across twenty three countries worldwide, appear to have commenced the disruptive journey of broadening insurance in Nigeria as promised.
The insurers recently confirmed that through its websites, customers will be able to buy insurance policies in addition to enjoying a seamless experience through fast transactions facilitated in five minute.
While the development implies the kick-off of the companies’ ambition to digitalise insurance, in addition to providing a viable alternative for customers to purchase products and request claims without delay as they learn more about insurance, it would ensure that customers have access to quick insurance, completing transactions in minutes wherever they are, without any human intervention.
With a combined mandate to protect people’s properties as well as a vision to provide financial security and life insurance plans for people, both Heirs Insurance Limited (HIL), the general insurer, and Heirs Life Assurance Limited (HLA), are striving to be the leading Nigerian insurers leveraging digital technology to provide simple, quick, reliable, and accessible insurance to individuals and businesses.
Niyi Onifade, managing director, Heirs Life Assurance, explained that the websites were designed to remove the barrier of accessibility for customers.
He said, “For us at Heirs Insurance and Heirs Life, our business revolves largely around satisfying our customers and we understand the important role technology plays in making that happen, as well as widening the scope of our offering to underserved markets. Presently, our websites offer a web app feature that allows customers to buy and pay for policies in just five minutes and request for claims within 24 hours. This, we believe, is the ease customers truly deserve and we are glad to be pioneering that.”
Adaobi Nwakuche, acting managing director and chief executive, Heirs Insurance Limited, added that the companies’ stance on technology offering would bring ease and comfort to customers.
She said, “We are delighted that customers can now purchase products via our websites. This milestone speaks to the innovation we are bringing into the insurance industry and more importantly, our commitment to our customers. Our promise of simple, quick, accessible, and reliable insurance service is closer than ever.”
While HIL currently has a paid-up share capitals of N10 billion, HLA has also shored its capital base up to the minimum of N8 billion as required by the NAICOM, the industry regulator, and both insurers are set to commence full operations with a workforce of astute and experienced professionals, in addition to a robust financial capacity to underwrite all classes of general and life insurance businesses.