Insurer pays N501million claims in Q1

Great Nigeria Insurance Plc has disclosed its commitment to honouring genuine claims as and when due, as its quarterly total claims pay was N501.6 million.

Speaking to The Guardian, the Head of Corporate Communications and Brand Manager (GNI), Oyinkansola Sobande, said claim obligations have increased, which he attributed to the economic downturn.

According to her, “every insured wants to claim at every given opportunity, which has impacted the claim figures since the occurrence of the pandemic.”

The summary of the claims paid in the first quarter of 2021 shows that group life had the highest figure of N422 million while the general insurance business totaled N79m.

While commenting on the intent of the organization as regards claims settlement, the Managing Director/Chief Executive Officer, Cecilia Osipitan, said: “There is no compromise to claim settlement in GNI because every underwriter wishes to ensure that subscribers enjoy the benefits of taking any form of the insurance policy.”