Sovereign Trust Insurance pays N0.9b claims in half year

.Pledges customers satisfaction

 Chuks Udo Okonta

Sovereign Trust Insurance Plc has said its claims settlement for the half year stands at N944, 512,641.77 million.

 

A statement by Oyinkansola Rahman-rabiu of the firm’s Corporate Communications & Brand Management Department, noted that the breakdown of the amount paid shows that N351 million was paid in the first quarter of the year while N593 million was paid out in the second quarter.

 

The General Manager in charge of Operations, Olaotan Soyinka, said the claims portfolio in the first half of the year comprise energy claims at N401.6 million, motor insurance claims amounted to N218.4 million, claims settled under fire insurance accounted for N83.8 million, while the total of N128.5 million was settled as claims under the general accident insurance. Marine insurance claims amounted to N100.4 million and engineering insurance claims totaled N11.7 million.

 

Its Managing Director/Chief Executive Officer (CEO) Wale Onaolapo, reiterated the commitment of the company to prompt claims settlement; adding that, that is the only way the company can generate more confidence from its teeming customers and the insuring public at large.

 

He restated that prompt claims settlement is very germane to guaranteeing the reputation which the company as built over the years.

 

He said: “Whenever the need arises to settle claims, Sovereign Trust Insurance Plc does not see it as doing the customer a favour, rather, we are concerned about making the customer delighted with our seamless claims process which ultimately will lead to customer satisfaction. 

 

“We are only fulfilling our part of the agreement made at the point of picking up the business that all genuine claims will be settled as and when due.  It is our responsibility to do all in our capacity to ensure that we do not disappoint our customers when it matters most. The whole essence of insurance is premised on restoring policy holders to their former status in the occurrence of any eventuality and that we remain committed to.”

 

Over the years, Sovereign Trust Insurance Plc has demonstrated optimal commitment to maintaining a pace-setting position in the insurance industry in Nigeria. On the products and services provided by the company, information can be sought on the official website at ww.stiplc.com.