African Alliance Insurance has reaffirmed its dedication to forging stronger bonds with its stakeholders, particularly customers, in response to the challenging economic landscape. The company’s managing director, Joyce Ojemudia, announced a comprehensive strategy to improve stakeholder welfare, influenced by a thorough analysis of both local and global events that impact life expectancy. This initiative underscores African Alliance’s commitment to proactive policy implementation and the adoption of innovative solutions to enhance the quality of life for its customers and shareholders.
During a recent interaction with journalists in Lagos, Ojemudia articulated the company’s resolution to maintain its legacy of prompt and professional claims settlement. “Our goal is to ensure the enduring happiness and satisfaction of our valued customers,” Ojemudia emphasized, reflecting on the company’s historical success in fulfilling its obligations to policyholders. She highlighted the critical need for efficiency and the integration of cutting-edge technology to navigate the current economic and social dynamics.
African Alliance has a track record of substantial claims disbursement, with over 40 billion Naira paid out between 2019 and 2023. These payments span various business units, including individual life insurance products such as Esusu, Takaful, and Annuity. Ojemudia provided a detailed breakdown of the payouts: approximately 9 billion Naira in 2019, 7 billion Naira in 2020, 7.7 billion Naira in 2021, and continued strong performance in subsequent years. This consistent disbursement reflects African Alliance’s unwavering commitment to its stakeholders.
The company’s efforts have continued into 2024, with over 1.1 billion Naira in claims already processed in the year’s first 58 days. This achievement is part of a broader strategy to cement African Alliance’s position as a leader in the life assurance sector in Nigeria. Under the guidance of its board and management, the company is implementing strategic initiatives aimed at expanding its market share while adhering to the highest standards of integrity and customer satisfaction.
Ojemudia’s statements underscore African Alliance’s role as a pillar of reliability and dedication in the life assurance industry. The company is not just focused on financial security but is committed to providing a fulfilling experience to all stakeholders. By placing customer satisfaction at the heart of its operations and embracing innovation, African Alliance Insurance is poised to navigate the complexities of the current economic climate while ensuring the well-being and contentment of its customers and shareholders.
