KBL opens online portal for third party insurance

KBL Insurance says it has opened an online portal for the sale of third party insurance.
According to a statement obtained from the company on Sunday, the firm said this was in line with the need to achieve financial inclusion and enable consumers’ access to compulsory insurance products.

It stated that the portal would enable consumers anywhere in the world to start and finish the process of purchasing a third party insurance policy.
“This way, members of the public are able to buy insurance in the comfort of their homes, offices and on the go using the internet,” the company said.
It added that it paid N198.8m claims in the first quarter of this year.
The company said the claims paid were on motor insurance, fire, marine, energy and other classes of insurance.
The statement restated the company’s resolve to settle claims within 48 hours once documentation had been complete and urged customers to continually ensure prompt reporting of losses in line with the insurance cover they have.
KBL stated that it planned to leverage digital and online technology for transactions in expanding its retail insurance base.
These alternatives are designed to ensure that the online community is able to access insurance easily, according to the statement.