Mutual Benefits promises to penetrate rural areas

Following the recent award organised by African Re, where Mutual Benefits Assurance Plc was adjudged as the ‘Most Innovative Insurance Company 2015′ in Tunis, Tunisia recently, the company has promised to further penetrate the rural areas of the country to ensure that risks in these areas are equally insured.

Group Managing Director of the assurance company, Mr Akin Ogunbiyi, while speaking at a media parley in Lagos, assured that Mutual Benefi ts is poised to take insurance products and services to the rural areas to ensure financial inclusion.

He noted that the insurance fi rms in the country concentrates majorly in urban areas, living people and assets in the rural areas uninsured, promising that his fi rm will continue to service both urban and rural areas to insure risks across the country.

According to him, “the major focus was to take insurance to the grassroots and ensure that the majority of low income earners have access to insurance. Those who began the sale of insurance in Nigeria focused more on the grassroots and that is our focus.”

He, however, applauded the National Insurance Commission, NAICOM, for its dynamism, support and initiatives in the past eight years, adding that there cannot be any innovation when the regulators are not dynamic, understanding, and supportive towards the operators and the business of insurance.
Ogunbiyi said the award was a good recognition for effort, initiative and investment of the company over the years, while dedicating the awards to its staff operators and regulator of the insurance industry.

He noted that the greatest platform the company had, that led to the award, is the introduction of Market Developmental Restructuring Initiative, MDR, by NAICOM, adding that the initiative introduced by the commission changed the way the company began to do business.
He said the major focus was to take insurance to the grassroots and ensure that majority of low income earners have access to insurance.

Meanwhile, Mutual Benefi ts won the award at the 2015 African Insurance Organisation ,AIO, seminar held in Tunis, Tunisia, last month, beating other two contenders to the award.
It was awarded with ‘Innovation Company of the year Award’ for the use of technology, breakthrough in products/ service delivery and innovative distribution channels/method introduced in the sale of insurance products to reach the grassroots.

Speaking shortly after receiving the award, Ogunbiyi commended African Reinsurance for sponsoring the award, adding that the initiative will help to push the industry to relevance.

He dedicated the award to the handiwork of its staff and the Nigerian insurance industry in general.

Source:: national mirror