AIICO Insurance Pays N200bn Claims, Benefits In 5 Years

AIICO Insurance Plc has paid N200 billion as claims and benefits to its policyholders in the last five years.
This milestone, according to the insurer, reflects its unwavering commitment to providing financial security and peace of mind to its policyholders.

A comprehensive review of AIICO’s claims and benefits settlements from 2019 to 2023 revealed that the company has consistently prioritised the timely disbursement of claims to both retail customers and corporate clients.

The breakdown of the claims paid shows that N30.6 billion was paid in 2019, N31.6 billion in 2020, N47.3 billion in 2021, N44.9 billion in 2022 and N46.5 billion in 2023.

AIICO’s robust claims management process and customer-centric approach have solidified its position as a trusted partner in safeguarding the financial well-being of individuals and businesses alike.
Responding to this development,. the managing director/CEO of AIICO Insurance Plc, Babatunde Fajemirokun, emphasised the company’s dedication to customer satisfaction and service excellence.

He stated that, “At AIICO Insurance, our customers are at the heart of everything we do. We exist to serve and protect them, ensuring that their genuine claims are settled swiftly and fairly. This five-year profile is a testament to our commitment to delivering on our promises and maintaining the trust that our customers place in us. We remain dedicated to continuously improving our processes and services to meet the evolving needs of our valued policyholders.”.

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Fajemirokun further added that “AIICO Insurance Plc will continue to leverage advanced technology and innovative solutions to enhance its claims processing capabilities. Our goal is to provide an even more seamless and efficient experience for our customers, ensuring that they receive the support they need when it matters most.”