Universal Insurance Evolves Enhanced Third Party Motor Policy

Universal Insurance Plc will soon launch its enhanced third-party motor insurance cover for its customers and the general public in a move to further deepen insurance penetration in the country.

Disclosing this at a forum in Lagos recently, the managing director/CEO of Universal Insurance Plc, Dr. Jeff Duru said the upcoming products included the Third Party Enhanced Motor cover which would drive its third party initiative to carve a niche in the motor insurance segment of the market.

According to him, “We also have our mini comprehensive insurance package that will be digitised, which will enable everybody to key into motor insurance because some people still see the comprehensive motor insurance package as very expensive. So, when the new policy comes on board, it will enable people to buy insurance service and pay at your convenience.”

Noting that the company had a rate assured policy that was about to be brought on board, he said the  policy would  enable property owners and tenants to have the benefit of recovering their loss rate.

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“Assuming there is fire damage, flood or extra loss that resulted in the loss of your residence or your building, we will be able to oblige you to have alternative accommodation. This will give you the peace of mind and security to continue your life,” he pointed out.

“This is what we preach, that customers should get the best, that the products should be accessible, they should be simplified and affordable. So, both the mini comprehensive insurance cover and the enhanced third party insurance cover are all aligned with this initiative to make sure that the policies are affordable to the customer, accessible and simplified,” he pointed out.