Life Insurance expert, 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, the Managing Director, Joyce Ojemudia, reaffirmed the company’s commitment to satisfying her teeming policyholders.
“At African Alliance Insurance ply, 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 said.
She restated 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.
According to her, this has resulted in a faster processing time for claims.
According to the year-to-date break down presented to the media, 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.