Underwriting corporations, Heirs Insurance coverage Restricted (HIL) and Heirs Life Assurance (HLA) have partnered with the United Financial institution for Africa (UBA) to start bancassurance enterprise to extend insurance coverage acceptance within the nation.
The partnership will permit the distribution of low-cost and reliable insurance coverage merchandise for Nigerians, at UBA Nigeria branches, offering a wider vary of monetary safety choices for people, households, and companies, while driving monetary inclusion, a strategic goal for each teams. The rollout started yesterday.
The United Financial institution for Africa (UBA)
The bancassurance partnership affords clients of all three entities an expanded distribution community and the power to seamlessly transact banking and insurance coverage wants in a single location.
Clients will have the ability to buy insurance coverage from all of the financial institution distribution channels, together with the branches.
Heirs Insurance coverage and Heirs Life have demonstrated their distinctive method to insurance coverage and buyer expertise, that emphasises simplicity and accessibility, propelled by their progressive digital insurance coverage processes.
The brand new bancassurance partnership underlines the companions’ mission of bettering lives and reworking Africa whereas democratising entry to monetary providers.
Talking on the partnership, the Managing Director/Chief Government Officer, Heirs Insurance coverage, Adaobi Nwakuche, mentioned: “We partnered with a trusted and progressive financial institution such because the United Financial institution for Africa.
This partnership will supply thousands and thousands of individuals nationwide the monetary safety that’s so wanted. “
In response to her, they’re dedicated to a transformative path of bettering the lives of Nigerians, whereas making certain that insurance coverage is made accessible to all.
The Managing Director/Chief Government Officer, Heirs Life Assurance, Niyi Onifade, mentioned: “We promised Nigerians accessibility to insurance coverage, and this bancassurance partnership is among the key methods we’re fulfilling that promise.
The brand new bancassurance partnership with UBA reaffirms our shared digital-first method and innovation tradition, which encourage us to supply the utmost worth to our clients. We respect our regulator, the Nationwide Insurance coverage Fee, and naturally, the Central Financial institution of Nigeria for granting us the mandatory approval and inserting their confidence in us”.
Talking on the rollout, the Group Managing Director, UBA, Oliver Alawuba, mentioned: “As a monetary establishment, with a presence in 20 African international locations, and the USA, France, UK and the United Arab Emirates, UBA prides itself on being an progressive, one-stop-shop providing monetary options to its over 35 million clients, from our numerous touchpoints. This partnership with Heirs Insurance coverage Restricted and Heirs Life Assurance helps us as soon as once more to considerably broaden our department and digital providing, to the good thing about our clients and advance our dedication to driving monetary inclusivity.”
He added, “Our clients and people of Heirs’ insurance coverage households will take pleasure in a bouquet of progressive and inexpensive merchandise, by the wealthy distribution channels offered by UBA”.