Great Nigeria Insurance Plc, paid N501.5 million as claims to its numerous policyholders who suffered insured risks in the first quarter of the current year (2021).
This, the company said, affirmed its willingness and capacity to honour all genuine claims as and when due.
In a statement signed by the company’s spokesperson, Oyinkansola Sobande and made available to LEADERSHIP yesterday, the company stressed that, GNI takes the issue of claims very serious and will not hesitate to settle genuine claims as they fall due. She, however, stated that the claims experience so far has been very alarming which she attributed to the downturn in the economy.
According to her, “every insured wants to claim at every given opportunity which impacted the claims figure since the occurrence of the pandemic.”
The summary of the claims composition paid in the first quarter of 2021, shows that group life had the highest figure of N422 million while general insurance business totaled N79 million.
Under the non-life business, she said, fire insurance ranked first with N32.2 million total claims settled while general accident recorded N25.8 million. The total sum of N12 million, she added, was paid as claims on motor insurance, engineering gulped N6.7 million, Oil and Gas Insurance stood at N1.1 million with marine Insurance closing the figures with N0.96 million.
While commenting on the development, the managing director/CEO, Mrs. Cecilia O. Osipitan, said: “there is no compromise to claims settlement in Great Nigeria Insurance Plc because the major focus of the company is to ensure that our customers get to enjoy the benefits of taking out any form of insurance policy with us through prompt settlement of their claims when the need arises.”
Osipitan further stated that the company has put in place a friendly-claim-process with the major aim of putting smiles on the faces of its various customers across the country, thus, ensuring that claims are settled within the shortest period possible on completion of all necessary documentation.