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From left: Deputy Director (Inspection) National Insurance
Commission (NAICOM), Faruna Monday; Chief Commercial Officer, Airtel Nigeria,
Maurice Newa; Group Managing Director/Chief Executive Officer, Cornerstone
Insurance Plc, Ganiu Musa and Regional Expansion Manager, Africa, MicroEnsure,
Kierieni Kirika at the media launch of Airtel Insurance in Lagos.
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Partners Microensure, Cornerstone to offer a 2-in-1 insurance scheme with
benefits up to N500,000 in life cover
Chuks Udo Okonta
Airtel Nigeria,
has collaborated with MicroEnsure and Cornerstone Insurance plc, two prominent
insurance providers, to launch a free insurance product which offers itsl
customers life and hospitalisation insurance with increasing benefits based on
monthly airtime recharge.
The product,
which is tagged Airtel Insurance is packaged to deliver affordable insurance
services and encourage insurance culture among Nigerians. It is first of its kind
in Nigeria and has been endorsed by the National Insurance Commission (NAICOM).
It is open to all Nigerian residents between the ages of 18 and 65 years. All
they need to do is dial *259# to register for the service.
All
hospitalisations are covered, both for natural and accidental causes, with no
medical exclusions, making it the most widely accessible and generous free
insurance cover in the country.
Airtel Insurance
rewards loyal Airtel customers with a renewable monthly life and
hospitalisation cover based on the amount of monthly airtime recharged.
Customers can qualify for this insurance by recharging as little as N1,000 with
Airtel each month, and as they increase their monthly recharge, they earn more
insurance cover – with up to N 500,000 and N50,000 of life insurance and
hospitalisation cover per month. Airtel Insurance becomes active on the first
day of month following registration, and is based on the amount of airtime
recharged the previous month, with a minimum monthly recharge of N 1,000
Customers also
have a variety of packages to choose from.
With a monthly recharge of N1,000 Airtel insurance gives the customer
N10,000 hospitalisation and N100,000 life insurance while N5,000 recharge will
earn customers as much as N25,000 hospitalisation and N250,000 life insurance.
A N10,000 recharge will attract N50,000 hospitalisation and N500,000 life
insurance.
Chief Commercial
Officer, Airtel Nigeria, Maurice Newa explained that majority of Nigerians
especially the middle and low income earners in Nigeria cannot afford most
available insurance policies due to income levels and complicated insurance
processes. He said the Airtel Insurance plan on the other hand was designed to
make affordable insurance available to everyone in a simple manner.
“In line with our
vision to enrich the lives of Nigerians and offer them quality services, Airtel
Nigeria collaborated with two very reputable insurance organisations to package
this innovative product which guarantees our customers quality, affordable and
accessible insurance services. This further corroborates Airtel’s commitment
towards creating a robust platform that helps customers accomplish their
professional and personal success and goals in life,” Newa said.
“MicroEnsure is
proud to be leading the world as a mobile insurance provider, and this launch
in Nigeria marks a milestone in free mobile insurance offerings.
“This combination of
insurance products, all offered for free, is unprecedented in the industry
here, and we take pride in introducing a cutting edge micro-insurance product
here in Nigeria,” Regional Director for MicroEnsure Africa, Peter Gross, said.
Group Managing
Director Cornerstone Insurance Plc, Ganiyu Musa, said: “Cornerstone is
delighted to be at the forefront of providing truly innovative products and
channels combinations that address the Nigerian situation. That we are grossly
under-insured as a nation is very well documented; we are glad to be able to
provide a platform for millions of financially excluded Nigerians to enjoy the
benefits and peace of mind of insurance – for free. As we say at Cornerstone,
“The Future” is, indeed, “Assured.”
About Bharti Airtel
Limited
Bharti Airtel Limited is
a leading global telecommunications company with operations in 20 countries
across Asia and Africa. Headquartered in New Delhi, India, the company ranks
amongst the top 4 mobile service providers globally
in terms of subscribers. In India, the company's product offerings include 2G,
3G and 4G wireless services, mobile commerce, fixed line services, high speed
DSL broadband, IPTV, DTH, enterprise services including national &
international long distance services to carriers. In the rest of the
geographies, it offers 2G, 3G wireless services and mobile commerce. Bharti
Airtel had over 299 million customers across its operations at the end of May
2014. To know more please visit, www.airtel.com
About Cornerstone
Insurance PLC
Cornerstone Insurance PLC is licenced in Nigeria as a composite Insurer
offering both General and Life insurance products and services. Cornerstone is
committed to playing a lead role in the transformation of the insurance
industry in Nigeria through the provision of truly innovative products and
services using trusted partnerships and channels to deliver value beyond
expectation. In addition to the conventional insurance offering, Cornerstone is
the leading provider of Islamic/Ethical insurance (Takaful) products and
services in Nigeria covering both the Family Takaful and General Takaful range
of products. For more information please
visit www.cornerstone.com.ng, or “like”
Cornerstone facebook page at www.facebook.com/cornerstoneinsuranceplc
or follow us on twitter via the handle @cornerstone_ng.
About MicroEnsure
Founded in 2002, MicroEnsure is the world’s first and largest organization
whose sole focus is to address the mass market’s need to mitigate risk.
MicroEnsure provides a range of micro-insurance products to over 8.2 million
people throughout the world, with 4.5 million in Africa, 80% of whom have not
previously been insured.
As an intermediary, MicroEnsure bridges the gap between mass-market
distributors and insurance companies. MicroEnsure works to create markets in
partnership with product distributors, enabling them to utilise insurance as a
key marketing and sales tool. MicroEnsure performs a range of services
throughout this process, including product design and development, client
education, underwriting and claims administration.
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