Mutual Benefits Assurance to launch 50 micro-insurance products

Mutual Benefits Assurance to launch 50 micro-insurance productsChuks Udo Okonta

Mutual Benefits Assurance plc has disclosed plans to roll out 50 micro-insurance products into the market beginning from April.

Its Group Managing Director, Akin Ogunbiyi, who disclosed this in a media parley in Lagos, said the first batch would be introduced by April, adding that the products were developed along social, demographic, trade groups and risks peculiar to each segment of the nation.

He noted that the firm has a projection to open 200 offices between 2012 and 2015, stressing that 32 offices were opened last year and that the number would reach 70 by December this year. He said the effort would bring existing and new offices of the firm natioanwide to 96 by the end of this year.

Ogunbiyi said the firm would create 22,000 new jobs by 2015 in line with the man-power need of the industry. He said the insurance group has staff strength of about 5000, of which 3000 are marketing executives.

He said the firm has 67 insurance professionals in its workforce, stressing that 24 states are to be covered by the firm by 2014.

He noted that to serve customers better, six regional hubs have been created in Lagos, Ibadan, Abuja, Enugu, Port Harcourt and Kano, stressing that each regional operation is headed by a Regional Franchise Administrator (RFA), while the state operation is headed by a Territorial Franchise Administrator.

He said to institutionalise customer focus, customer service officers, pupil risk surveyors have been created as job titles.