In a bid to improve on the existing and conventional comprehensive motor insurance policy that takes a longer period of claims processes and payments, Leadway Assurance Company Limited has unveiled a new model that speeds up motor insurance claim payment process in two minutes.
The latest comprehensive motor policy, according to the insurer, is a fast, convenient, and effortless solution that affords vehicle owners a fast end-to-end process of buying comprehensive motor insurance within 120 seconds, as well as providing the guarantees of restitution in the face of risks whilst meeting the country’s legal requirement for vehicles and vehicle owners’ insurance.
Umashime Oguzor-Doghro, head, retail, general insurance, Leadway Assurance, said the disruptive process, in addition to aligning with the company’s continuous drive to deepen insurance penetration in Nigeria, also provides customers with convenient access to a critical risk mitigation tool.
She said, “This strategic solution provides a win-win solution for the critical stakeholders in the insurance space – the public, insurance industry and the country at large – convenience for vehicle owners, increase in insurance products uptake for the industry and adherence to the legal auto-insurance requirement as obligated in the country”
Adeyinka Aderombi, head, digital transformation at Leadway Assurance, added that in understanding the criticality, limited availability of time and its impact on the quality of our wellbeing, especially in today’s modern and fast-paced world, it has become imperative for service providers to incorporate time-saving tools which aid convenience, speed, and ease as a unique selling proposition in product and service offerings.
Stating that the management of Leadway Assurance believes, not just in providing customers with innovative solutions to risks, but also disentangling every possible hindrance capable of disrupting customers’ ease of access.
“The Leadway Comprehensive Motor Insurance provides the policyholder with an affordable premium, the most comprehensive cover against fire, theft, third-party damages to properties and vehicles caused to the insured vehicle, as well as coverage against bodily injury and even death.”
She however stressed that additional benefits include up to N1 million cover for accidental damage to the insured vehicle or property, a limit of N1 million for total or permanent disability to the insured and a limit of N100,000 in the event of hospitalisation or severe injury.
