Mobile insurance remains the easiest means to sell insurance to the low income Nigerians who may not be able to buy the comprehensive insurance cover, Managing Director, Val Ojumah, has said.
He spoke at the media parley that kicked off the fifth anniversary of FBNInsurance
He said when FBN Insurance introduced mobile insurance in partnership with Etisalat and Airtel in 2013, many felt it was not viable.
He said Sure4Life and Padi4Life, the two mobile insurance products of the firm, were introduced into the market to make insurance available to all.
“As you are very much aware, there are more than 100 million mobile lines in Nigeria. So, the easiest way to reach out to them is through mobile insurance because this product fits a large proportion of the populace, he said.
The first claimant under the Sure4Life mobile insurance product, Taofik Yahaya, who got a text from his network, Etisalat, to purchase the policy by sending ‘LIFE’ to 48433, said he followed an instruction he was given and was glad he did.
He said: “A few weeks ago, I needed urgent medical attention and FBNInsurance responded with a N10,000 medical expenses benefit.
“As a beneficiary of Sure4Life, I feel very happy and excited that insurance now works in Nigeria, particularly because FBNInsurance responded and paid my medical claims benefit very fast. The payment I received from FBNInsurance helped to reduce my medical expenses and I am so delighted they came to my rescue.’’
Source: The Nation