African Alliance Insurance Pays N7.5bn Claims to Customers in 2021

African Alliance Insurance Plc said it paid a total of N7.5billion in 2021. The company said it paid N475 million claims to its customers last December ahead of the yuletide season.

Speaking on the firm’s claims profile, Joyce Ojemudia, the Managing Director, reaffirmed the company’s commitment to satisfying her teeming policyholders.

Ojemudia said “At African Alliance Insurance plc, we are in the business of paying genuine claims as due. This is more important as the year rolls to an end with many uncertainties that may affect the festivities. For us, we have promised we will be with them for life, this is our ongoing fulfillment of that mantra”,

She recounted the company’s long history of claims payment while informing stakeholders that the firm had instituted a seamless claims process which included fortifying the claims unit with agile and nimble claims experts enabled by technology to join the team on ground.

This development, according to her, has resulted in a faster processing time for claims.

The year-to-date break down presented to the media showed that the life insurer has paid N1.23bn in Individual Life claims; N1.36bn Group Life; N626m Takaful; N25.2m Esusu payouts as well as N4.35bn in Annuity payments.