The Chief Operating Officer, Allianz Nigeria Insurance Plc, Owolabi Salami, said his company has demonstrated resilience in its business strategy despite the impacts of the COVID-19 pandemic on the economy.
Salami stated the firm in the first quarter of 2020 recorded a claims settlement of N1.8 billion to its customers, which is over 130 per cent increase from N800 million paid out the same period in 2019.
He also revealed the company reported a Gross Written Premium (GWP) of N4.2 billion, a 47 per cent growth as against the N2.9 billion recorded during the same period in 2019.
Commenting on theperformance, Salami said the success attained so far could be attributed to the tenacity and bravery of the people who work in the organisation.
“We are proud to see how fast our people adapted and rose to the challenge in these unprecedented times.
“The company will remain unwavering to deliver on its promise of paying claims despite the present economic downturn.
“Earlier this year, the company launched a nationwide campaign to settle motor claims within 60 minutes, and to date, scores of claims has been settled within the stipulated time.
“Recording these achievements in a time of extreme decline in sales and corresponding decline in profits, shows that Allianz Nigeria Insurance Plc is at the forefront of revolutionising the insurance industry especially in the area of satisfying customers’ needs”, Salami said.