Heirs Holdings makes inroad into Nigeria’s insurance market


By Sonia Dibie

Moved by the need to offer reliable insurance to Nigerians and Africans, Heirs Holdings (HH) on Tuesday launched Heirs Insurance Limited (HIL) and Heirs Life Assurance (HLA) at the companys’ Victoria Island headquarters in Lagos.

HIL provides general insurance, offering policies covering vehicles, homes, SMEs, business risks, and other property.

HLA, on the other hand, offers insurance-backed savings plans and life insurance security for individuals, families, children’s education, debtors, creditors, entrepreneurs, and employees.

All plans offer customers comprehensive protection, creating financial certainty for loved ones, cherished assets, and property.

Both companies leverage the business track record of Heirs Holdings, the pan-African investment group, chaired by leading investor and philanthropist, Tony Elumelu.

Heirs Holdings’ portfolio includes companies transforming financial services, power, oil and gas, real estate, hospitality, healthcare, and technology.

At the launch, the companies announced a series of product innovations, including a web portal enabling customers to get an insurance quote in minutes and receive claims settlement in less than 24 hours from their mobile devices.

The highly intuitive and easy to use portal assists the total customer journey, from comparing products to finding the right cover. They also unveiled a suite of customer friendly, affordable products that are simple to understand, featuring flat pricing and tailored directly to the Nigerian market and the needs of Nigerians.

Heirs Insurance, the general insurer, with its mandate to enable Nigerians to protect their valuables and property, unveiled flexible low-cost comprehensive motor insurance and new insurance products targeting users including bikers, tenants, and SMEs. Heirs Life unveiled affordable savings, term life and inheritance plans, that provide financial security throughout customers’ life journey.

Acting MD/CEO, Heirs Insurance Adaobi Nwakuche said: “We are delivering insurance that is easy to understand, quick and reliable, simplifying our customers’ lives. Our mission is simple: make insurance accessible. Our goal is to transform customer service: cutting waiting time in claims processing and purchase to bare minutes — across all touchpoints, including mobile devices. At Heirs Insurance, we want to give our customers what they have so often lacked – high quality insurance, at an affordable price – and with an insurer that is on their side.”

Lagos State Governor Babajide Sanwo-Olu was present at the launch.

MD/CEO, Heirs Life Niyi Onifade said: “Our goal is to integrate life insurance products into people’s daily lives to create financial inclusion and bring quality financial services to the many, not just the few. This way, we empower people to live more confidently and achieve their dreams, whilst securing the future of their loved ones. Heirs is all about giving our clients financial security. As people build wealth, we want them to know that they have a partner in Heirs Life, providing financial support throughout their life.”


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