KBL Insurance Assures Customers of Prompt Claims Settlement

Ebere Nwoji

Underwriting firm, KBL Insurance Limited, has assured customers and the insuring public of its resolve to make prompt claims settlement a number one priority, with the view to encouraging Nigerians insure their valuables, and deepen insurance culture in the country. 

The Executive Director, Business Development and Operations of the company Mr. Charles Ajawihe gave the assurance in Lagos, while responding to a media inquiry on what the Nigerian insurance sector planned to do differently in the year 2023, to encourage subscribers.

Ajawihe told the media that KBL Insurance has paid the sum of N2.6billion in the last four to five years as various settlements in claims, with the view to sustaining same speed in all the Company’s claims settlements as far as all necessary documents were promptly made available for proper verification. 

He gave a break down of claims paid by the company within the stated period saying claims from Motor Insurance alone contributed about 48.2 percent across settlements.

He said KBL Insurance, as part of its strategy to contribute to the growth of the industry in Nigeria, make its services more accessible to the insuring public had launched a new Enterprise Resource Planning software (ERP), called IES-Online Application. 

According to him, IES Online is a digital application that comes with various modules structured to help transform manual operation and processes of various aspects of the entire insurance underwriting, claims settlement, delivery of certificates, discharge vouchers (DVs) and insurance policy documentation to customers with speed and in record time, as never been seen in the insurance business in Nigeria.

The KBL Executive Director noted that in insurance industry today, a lot of things were changing, with technology playing a lot of critical roles.