GOOD OPTION!: Wapic repackages motor, group life insurance

Wapic Insurance Plc has reintroduced its motor insurance product just as its subsidiary, Wapic Life Assurance Limited, has revamped its group life insurance product.
A statement obtained from the firm on Sunday said the motor insurance had been rebranded and now called Moov while the group life policy was redesigned to address critical consumer needs, keeping them adequately protected against the impact of life risks while in employment.

The statement said Moov in its new form had been designed to meet the yearning of customers for budget and life style flexibility.
Part of the features of the product, it added, was the fact that the consumers could create their motor insurance cover.
According to the firm, the motor product comes in four variants, which are: the basic Moov to cover third party motor insurance; Moov Plus for third party fire and theft; Moov Prestigeto cover basic comprehensive insurance while Moov Luxury is the maximum motor cover.
Within each option, it added, there would be a menu of covers from which customers could make a choice based on their needs and budgets.
Each cover, it stated, had been priced separately while the customers could work out the cost using the online calculator provided.
The company had also made the product more accessible for the insuring public as there would be various product purchase channels.


The group life insurance, it explained, is a compulsory class of cover for all employers with three or more employees.
It stated that Wapic Life had revamped this product to meet the needs of employers through simplified documentation, seamless payment process and enjoyable claim settlement for the benefit of their employees.
The Managing Director, Wapic Life Assurance, Mr. Niyi Onifade, said “Group life insurance as prescribed by lawhas now been simplified for the benefit of employers of labour, clubs, associations, unions, religious groups, cooperatives and social organisations who exist as a group such that the purchase of the product is enjoyable and can be done with ease. This is our commitment and we have fulfilled this today.”
The Deputy Group Managing Director, Mr.Bode Ojeniyi, stated, “With the rollout of Moov and group life, Wapic Insurance is on course towards meeting its goal of delivering customer-relevant solution in both the life and non-life segments while the insuring public can now enjoy affordable and flexible insurance solutions to cover their vehicles and lives. We assure you that more solutions will follow shortly.”