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AIICO Insurance Surpasses N200 Billion in Claim Payments

AIICO Insurance coverage Plc has settled over N200 billion in claims and payouts up to now 5 years.

An evaluation of AIICO’s claims and settlements from 2019 to 2023 revealed that the corporate paid out about N200.9 billion up to now 5 years, with the best payout occurring in 2021 (N47.3 billion), adopted by 2023, when it paid out N46.5 billion.

In 2019, the insurance coverage firm paid N30.6 billion. Declare funds elevated to N31.6 billion in 2020 and in 2022, it paid N44.9 billion as claims.

In an announcement on Wednesday, Managing Director/Chief Govt Officer Babatunde Fajemirokun mentioned of the development: “At AIICO Insurance coverage, our prospects are on the coronary heart of every little thing we do. We exist to serve and defend them, and make sure that their real claims are resolved promptly and pretty. This five-year profile is a testomony to our dedication to delivering on our guarantees and sustaining the belief our prospects place in us. We stay dedicated to constantly bettering our processes and providers to fulfill the altering wants of our valued policyholders.”

He added that the corporate will proceed to deploy superior know-how and progressive options to boost its claims processing capabilities.

“Our objective is to supply our prospects with a good smoother and extra environment friendly expertise, so that they get the help they want when it issues most,” he added.

Based in 1963, AIICO Insurance coverage gives a spread of merchandise together with life and non-life insurance coverage, medical health insurance and wealth administration providers, geared toward constructing and defending wealth for people, households and company shoppers.

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