From left: Company Secretary Sovereign Trust Insurance Plc, Yetunde Martins; Chairman, Dr Ephraim Faloughi and Managing Director, Olawale Onaolapo at the event.
Chuks Udo Okonta
Sovereign Trust Insurance Plc has pledged to be at the vanguard of positive changes in the insurance industry through innovations and bespoke services.
Its Chairman, Dr Ephraim Faloughi, disclosed this at the firm’s annual general meeting in Lagos, stressing that to achieve this, the firm will continue to assess its service platform to ensure they conform to best global standards and are flexible enough to lead positive changes in the industry.
He said the company is competing to win and will remain a shining light in the industry by adhering to professionalism and ethical practices.
“We believe we are competing to win and will definitely be at the vanguard of positive changes in our industry as we move into the future.
“The project of building the Sovereign Trust of our dream with huge capabilities to create wealth for shareholders and meet up with expectations of all stakeholders is ongoing and we are confident that this will become reality in the shortest possible time,” he said.
He noted that the wave of entrance of international brands into the Nigerian insurance industry will be a game changer in the way operators serve the market and administration of claims to customers.
“We recognize the rapid changing nature of our customers’ expectations and are aware of the imperative of embracing innovation and sound initiatives toward meeting their needs through bespoke services. This is a precondition to the attainment of our desired leadership of the insurance industry.
“In this light, we will continue to assess our service platform to ensure they conform to the best in terms of global standards and are flexible enough to lead positive changes in the market,” he said.
He said the firm understands the unprecedented dynamism of the business world; hence its strategic direction will be crafted to proactively envisage the likely opportunities that are inherent in the industry.