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Chuks Udo Okonta

On the not too long ago concluded annual retreat of the Nigerian Insurers Affiliation (NIA) Life Workplaces Committee, the MD/CEO, Heirs Life Assurance (HLA), Niyi Onifade, cited the rising variety of web customers as a possibility to leverage expertise for retail distribution of life insurance coverage insurance policies.

He stated this whereas delivering a lecture to key stakeholders within the life insurance coverage sector on “ICT instruments as channels of life merchandise distribution and servicing in a digital age”, the place he inspired life insurance coverage practitioners to embrace technological instruments and automation to facilitate accessibility and improve buyer expertise.   

A Fellow of the Chartered Insurance coverage Institute, London, and Nigeria, respectively and an Alumnus of the famend Lagos Enterprise College, Onifade reiterated the facility of the web in at the moment’s enterprise world.   He spoke on buyer preferences, advocating for the creation of easy and comprehensible life insurance coverage merchandise, noting that the eye span of the policyholders of at the moment is brief.  

Based on him, “the old-school bodily distribution strategies via brokers and brokers continues to be related, however our course of may be significantly enhanced digitally. Predictive and behavioural analytics might assist serve prospects with the related life insurance coverage insurance policies suited to their life stage even earlier than they realise that they want life insurance coverage.”  

Concluding his presentation, Onifade charged the professionals to embrace an open-insurance, digital-led, insurance coverage distribution and servicing system, highlighting the progress Heirs Life Assurance has made in digitally serving its retail prospects which represent about 70% of its portfolio.

Heirs Life Assurance (HLA) is a specialist life insurance coverage firm providing easy, fast, accessible, and dependable life insurance coverage, retirement, and youngsters’s schooling safety plans. HLA provides a variety of personalised life insurance coverage safety and funding plans that present monetary safety to people and companies. Heirs Life is a subsidiary of Heirs Holdings, a pan-African funding group with presence throughout 4 continents and 23 African international locations.

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