Sovereign Trust Insurance to sell products in local dialects

 

Chuks Udo Okonta

Sovereign Trust Insurance Plc said it has adopted a nationwide radio campaign in local dialects to sell some of its personal line products at the nook and cranny of Nigeria.

The company in a statement said the campaign is designed in two modes made up of programme sponsorship and airing of commercial jingles in Yoruba, Hausa and Pidgin in some selected radio stations across the major commercial cities in the country. The cities include Lagos, Oyo, Ogun, Port-Harcourt, Enugu, Sokoto, Kano and a host of others.

It said one of the major products on offer is the Sovereign Wellbeing Insurance Scheme for the Family (SWIS-F), adding that the product is a General Personal Accident (GPA) policy with varied features and benefits designed to cater for the Family in any situation of eventuality. The premium for this package is N1, 500 per annum.

It said the benefits range from out-of-work benefit resulting from any form of accident; covers medical expenses of the insured arising from accident, payment of wellbeing lump-sum and gives free cover for the 4^{th child under the age of 17. Features include 10% no-claim bonus, affordable and flexible premium payment, covers strike and civil commotion and has no geographical limitation.}

the firm noted that with the current campaign, it is set to promote products under the Market Development & Restructuring Initiative, MDRI.

"These products are basically designed to cater for Third Party liabilities whenever the need arises. They consist of the Third Party Motor Insurance, Occupiers’ Liability, Builders Liability and the Professional Healthcare Indemnity Insurance. For personal line products, prospective customers across the country can buy the Householders’/Houseowners’ policy, Fire & Burglary and All Risks Insurance for every of their private belongings in any of Sovereign Trust Insurance offices across the nation," it said.

Its Assistant General Manager/Head, Direct Marketing Lanre Ojuola,said the move to embark on the radio vernacular campaign became necessary to erase the impression that insurance is only meant for the rich and mighty.

"We have carefully studied the market and came to the conclusion that a greater percentage of our prospective customers reside in the grassroots areas and could be denied the opportunity of knowing what benefits they could derive from having an insurance cover, hence, the need to take this information to them via the local languages on radio stations," he added.

He noted that the initiative is in line with the company’s mission of ‘enhancing the everyday life of its customers’ across all sectors of the Nigerian economy and social class.

The company’s spokesperson, Segun Bankole noted that the adaptation of the media campaign in vernacular is to further entrench the Brand’s recall rate amongst the identified social class with a view to developing strong business opportunities in those climes.

He said the programme sponsorship is geared at educating this particular class of people on the need to make insurance a priority in their daily life.

Its Managing Director Wale Onaolapo said "The idea behind the initiative is to ensure that the generality of the target audience are well covered and can easily connect with the product and make informed decision in taking any of the policies applicable to them.

"Our expectation of this campaign is that the target audience which cuts across, Teachers, Traders, Mechanics, Carpenters, Fashion Designers, Hair Dressers, Casual Labourers et al in the non-formal sector of the economy will avail themselves of the opportunities embedded in insurance."

He noted that the company launched the SWIS-F product in 2008 and has since been enjoying patronage from different socio-economic groups in the country but that this campaign would help enhance a larger coverage of prospective customers in localities yet to benefit from the product.