Underwriter cautions customers on cash transactions with staff

Mutual Benefits Assurance Plc, has urged its numerous customers to avoid payments of cash to staff, just as it vowed to investigate the alleged unethical practices recently reported in the media, pledging to prosecute anyone found to be complicit.

In a statement made available to The Guardian, signed by its Head, Corporate Communication, Ellen Offo, said the firm’s attention has been drawn to an online publication alleging unethical practices going on in the company.

She said while there was no mention of any specific member of staff in the report, the firm empathised with its customers involved and have taken immediate steps to investigate and urgently look into the issues raised in the report.

“We use this medium to assure our numerous customers that we shall prosecute anyone found to be complicit. Mutual Benefits has zero tolerance for fraud; therefore a report like this is viewed with grave seriousness,” Offo said.

As a deterrent, she said the underwriting firm has instituted a policy against payment of cash to members of staff and the accepted mode of payment is clearly stated on all its proposal forms and policy documents.

In addition, the firm has put in place secure and convenient cashless means of payment of premium such as direct debit, bank branch pay-direct, web-pay, online transfer, along with our third party insurance scratch cards,” she added.

Offor said the underwriting firm has operated for over 21 years in the insurance landscape as a leading brand in Nigeria with a reputation for speedy claims settlement and excellent service delivery.

She noted that the firm is strong, well-capitalised and committed to protecting the interests of its customers at all times, stressing that between January and February, it paid claims in excess of N3 billion. Also, over N50 billion was paid for claims settlement between 2012 and 2016 across its business lines, which is a testimony of the value the company placed on its customers and their needs.

“While we encourage our esteemed customers to make use of the several cashless channels of payment we have put in place and to keep track of their transactions; Mutual Benefits unequivocally states here that our customers are very important to us and we assure them of the safety of their funds and investments,” she said.

She said customers can access their transactions from the comfort of their homes on its web portal or by email and other channels provided by the firm, reiterating the firm’s commitment to protecting customers’ assets.