FBN Insurance Brokers Leverages Tech, Strategic Partnerships For Value Creation

FBN Insurance Brokers Limited, a subsidiary of FBN Holdings, is leveraging technology and strategic partnerships for value creation and enhanced customer experience.

The brokerage firms said it has remained driven by its vision to be the leading provider of insurance brokerage and advisory services in Nigeria, and so, has completely automated its key processes in order to guarantee a seamless experience for its customers.

It promised to continue to explore and firm up business partnerships within and outside the country in order to increase the size and quality of its insurance and risk management offerings to both existing and potential clients.

The company’s managing director/CEO, Olumide Ibidapo, who spoke in an interview  in Lagos said, FBN Insurance Brokers has made giant strides in the last one year in the areas of customer experience, strategic partnerships as well as digital transformation.

The firm, he said, is currently engaging underwriters with a view of coming up with appropriate bundles of product that give customers the much-needed covers with a high degree of flexibility especially, in terms of coverage.

“On the international front, we have strengthened our partnership with major entities like Howden One, TRM and BUPA International. These partnerships have positioned us to provide bespoke insurance solutions to our clients’ emerging risks.

“At FBN Insurance Brokers, we have created a digital roadmap that would see us realize our goal of completely automating our business processes while leveraging on the best technology available,” , Ibidapo said.

On the customer front, he added that, “we intend to use a data driven approach to better understand their needs, preferences and possible challenges. Doing this will help us in proffering the right insurance solutions while also providing very useful insights to our underwriting partners for product development.

“We are also currently developing a digital solution that would make insurance solutions easily available to the public. This platform when operational will improve the customer’s experience end to end from policy purchase to claims management.”

In order to harness the potentials that lie fallow in the Nigerian Insurance Industry, he said,  FBN Insurance Brokers goal is to fully transit into a digital outfit while delivering bespoke risk advisory and management solutions to the retail, corporate and public sector segments of the economy.

“We also plan to consolidate on our existing network of partners while also striking new partnerships with the aim of providing a comprehensive array of solutions to our customers while also exploring new lines of businesses.”

“Finally, we plan to continue to acquire and develop capacities and competencies (human capital development inclusive) that will give a strong competitive advantage in the insurance brokerage sub-sector. This will enable us to deliver on our promise of top-notch risk advisory services to our esteemed customers,” he pointed out.