Leadway Assurance Company Limited has partnered with Total Nigeria Plc to provide Third Party Motor Insurance to motorists across the country.
Speaking at the signing of the partnership agreement in Maryland, Lagos today, the Managing Director/CEO, Leadway Assurance Company Limited, Mr. Oye Hassan-Odukale, said the partnership was to deepen insurance penetration in the country.
Odukale, who was represented by Executive Director, General Business, Leadway Assurance, Adetola Adegbayi, said the insurance firm was constantly seeking ways to make insurance products and services nearer, easily accessible and more convenient to its customers, stating that the partnership with Total reinforces that quest to further take insurance closer to Nigerians.
“With this development”, he said: “Our customers, who are also consumers of Total’s array of products and services, would reduce their commuting time and cost to procure high value insurance products such as the motor insurance, at a single location.”
The Nigerian insurance industry, according to him, has been characterised by low market penetration and adoption resulting in the industry contributing less than 1 per cent to the nation’s Gross Domestic Product (GDP), adding that this collaboration encourages better accessibility, proximity and ease of business, consequently, reinforcing standards and fostering more trust in insurance industry, hence, positioning Leadway Assurance as a reliable insurer.
Earlier, the Managing Director, Total Nigeria Plc, Mr. Jean-Philippe Torres said: “With this partnership, our outlets will become the first in our industry to have insurance products and services offered at the convenience of our customers from our service stations.”
In the first phase of this initiative, Leadway’s easy-to-use Third Party Motor Vehicle insurance recharge cards will go on sale at the designated outlets nationwide. Subsequently, these stations will not only be used as pick up centers for Leadway Assurance products, they will thereafter serve as collation centers for all insurance related issues such as claims processing.
Leadway Assurance is leveraging on Total’s wide retail network to reach out to motorists in particular and many more customers in remote areas where Total service stations are located, thereby bringing insurance closer to customers no matter their location.