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African Alliance Insurance Pays N7.5bn Claims To Policyholders

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African Alliance Insurance Plc has paid N7.5 billion insurance claims to its numerous policyholders who suffered insured risks in 2021.

This included N475 million claims it paid in the current month alone ahead of yuletide.

Speaking on the firm’s claims profile, MD/CEO, African Alliance Insurance PLC, Joyce Ojemudia, reaffirmed the company’s commitment to satisfying her teeming policyholders.

“At African Alliance Insurance PLC, we are in the business of paying genuine claims as due. This is more important as the year rolls to an end with many uncertainties that may affect the festivities. For us, we have promised we will be with them for life, this is our ongoing fulfilment of that mantra,” the MD/CEO said.

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Going further, she restated the company’s long history of claims payment while informing stakeholders that the firm has instituted a seamless claims process which included “fortifying the claims unit with agile and nimble claims experts enabled by technology to join the team on ground. This has resulted in a faster processing time for claims. As we end this year on a good note, we are reassuring our customers that we won’t renege on our commitment to paying claims as due.”

According to the breakdown of its claims profile, the life insurer has paid N1.23 billion in Individual Life claims; N1.36 billion  Group Life; N626million Takaful; N25.2million Esusu payouts as well as N4.35billion in Annuity payments.

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