Insurance penetration in Nigeria has continued to fall short in spread and depth Despite the Country’s booming economic growth.
Surprisingly, in a country of 166M people, less than 1 percent of the population carries valid insurance of any type.
Of the 1.3M Nigerians who do carry insurance, the majority, about 63 percent happens to be car insurance.
According to the World Health Organisation (WHO), Nigeria has the highest automobile accidents in Africa, with about 7,741 accidents in 2014.
Less than 67 percent of the vehicles involved had insurance, placing more strain on the vehicle owners.
In a genuine bid to make insurance, especially vehicle insurance more accessible to current and intending car owners, Custodian and Allied Insurance Limited, a top rated insurance service provider will be providing vehicle insurance, on the leading car platform, Carmudi.
To access this service customers are required to visit the Carmudi Nigeria website, click on the purpose-built Custodian and Allied Insurance Banner or the Get Insurance Link, fill the form provided. Once this is done, an instant quote is generated and the customer is able to procure his/her valid motor insurance cover on the spot at highly competitive prices. The classes offered include the Third Party, Third Party Fire & Theft and Comprehensive Motor Insurance Covers.
During the official roll-out of this initiative, the Head, Business Planning & Strategy at Custodian and Allied Insurance Limited, Oladele Akinsanya remarked that, “Custodian finds in Carmudi an organisation desirous of making the online environment the preferred commerce avenue for every Nigerian; a drive that is consistent with Custodian’s commitment to making insurance readily available to all while exceeding expectations at all times by remaining at the cutting edge of technological deployments, product offerings and service delivery”.
In her reaction, Amy Muoneke Managing Director for Carmudi Nigeria said “We couldn’t be more thrilled about this partnership. Working with Custodian and Allied Insurance Limited will enable us to offer safety and peace of mind to our customers, in addition to affordable cars.”