FBN Insurance Targets to Grow Customer Base to 1m

FBNInsurance Limited, in a bid to deepen insurance penetration in the country, said it plans to increase the number of policyholders to one million within the next one year.

Managing Director of the company, Mr. Tunde Mimiko, who made this known at a press conference in Lagos, stated that the company currently has about 400,000 policyholders.

Mimiko said:  “This is not about promises, we have the personnel to achieve this. We are going to use agency system to penetrate the nooks and crannies of the country while we will rely heavily on technology to capture the millennia. We are expanding our frontiers to quite a number of cities and towns that we are not presently, we believe that this will engender more penetration than what we have done.

“We will do this with the customers in mind which include our current and prospective customers to continue to live in confidence by creating more wealth for them and protecting their financial assets.”

Speaking on how it plans to drive retail business at the grassroot, Mimiko pointed out the company plans to increase number of agents from 3,000 to 5,000 before end of 2022.

He explained that having more agents who will be selling insurance products and services across the country will boost insurance penetration and awareness.

According to him, the company would equally uses technology to capture the millennia onto insurance platform, adding that in order to get to those that are underserved, the company is also using a digital platform to ensure that they expand their reach as much as possible.


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