Allianz Nigeria Launches Funeral Expenses Insurance Cover

Ebere Nwoji

In its bid to boost its retail insurance portfolio, Allianz Nigeria has introduced a new family protection plan that will provide succor to families of decease through insurance coverage of the funeral expenses.

The New product which provides a financial cushion against unexpected funeral expenses; offers flexible plans that cater to customers across all income classes has already been approval by the National Insurance Commission (NAICOM).

The company said the new product was the outcome of months of extensive market research into current and prospective customer demands in the local market, especially in the wake of gradual recovery from the global disruption of Covid-19. 

Commenting, the Chief Executive Officer, Allianz Nigeria, Adeolu Adewumi-Zer said, “Our goal is to actively seek feedback on a rolling basis from our customers and the market at large and continuously use the feedback to create value for the customer and all stakeholders.

She said Allianz Nigeria, aspired to transform the way it did business for its clients so that it could be sustainable and a long-term partner. ”A partner for life. We have a clear view of where we want to go, both in terms of market and product lines. So we are expanding and rebalancing as we go”, Adeolu stated.

Also speaking, the Chief Customer Officer of the company, Patience Ugboajah, said the economic meltdown had highlighted the need for products that lighten the financial burden of middle and low-income families, following tragedy or loss.

“Burial ceremonies form an important part of the Nigerian culture across ethnicities. Often, paying the last respect to loved ones that have passed on will impose a heavy financial burden upon the surviving relatives. The cover enables the family to give the departed a desired and befitting burial. It is a simple product that enables the assured and their loved ones to enjoy peace of mind knowing their financial stability will not be threatened in the event of a loss”, said