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From left: Vice Chairman Mutual Benefits Assurance Plc, Akin
Opeodu; Chairman, Chamberlin Oyibo and
Group Managing Director Akin Ogunbiyi at the event in Lagos.
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Chuks Udo Okonta
Mutual Benefits Assurance Plc today launched 36 insurance
products which include, Nollywood; Motor dealers complimentary; School; Church;
Politician Comprehensive; SME Comprehensive and more that are designed to
mitigate risks from several sectors of the economy.
Its Group Managing Director Akin Ogunbiyi at the launch in
Lagos, said the company seven years ago set out plans on how to touch lives
through affordable and customised insurance products.
He noted that firm is adding the 36 products to its existing
76 products that are doing very well in the market. He noted that the products
will be deplored through the firm’s 60 offices and 7000 agents that have been
trained to market them.
Ogunbiyi said one of the challenges of insurance in the
country is lack of accessibility, adding that people buy fake insurance because
they cannot find genuine ones. He said the company is poised to change that scenario,
adding that the company will continue to develop products to meet the needs of
the public.
He noted that the public will buy insurance if products are
designed to meet their needs, stressing that the new products are coming at discounted
rates to add value the lives.
He lauded the efforts of the National Insurance Commission (NAICOM)
in granting approval for the products.
A Director of the company, Moses Ajaja, said the 36 products
are the first set of products to be issued by the firm in line with its retail strategy,
adding that more products will be unveiled soon. He noted that the company
hopes to open 200 offices in the next two years, stressing that the firm has
joined forces with the government in job creation.
Some of the products are, Mega Comprehensive Insurance;
Event Centre Insurance; Corporate Office Insurance; Oil and Gas Supply
Insurance; Politician Comprehensive Insurance; Lady Life Insurance; Hair Saloon
Insurance and more.
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