Underwriting firm, AXA Mansard Insurance has flagged off two promos to reward its motor insurance customers with different kinds of gift packages including cash, phones, airtime, and house and contents coverage against fire in its efforts to deepen penetration in the country.
The two Promos – ‘Awoof Xtra and Double Double’ is also part of the company’s strategy to give back to its numerous customers for their patronage and support.
The launch event held at the company’s office in Lagos had in attendance top management of AXA Mansard; Kunle Ahmed CEO of insurance business, AXA Mansard Plc, Rashidat Adebisi, chief client officer AXA Mansard, Olajumoke Odunlami, Chief customer and marketing officer and Adeola Adetanjo, Divisional director for retail business AXA Mansard, who briefed media representative about the promo initiative.
The highlight of the initiative— “double your protection with Double Double promo (insure your vehicle and we will insure your home)” was unveiled by Odunlami says it was empowered by the company’s objective to serve its customers effectively, “to act for human progress by protecting what matters”. She said she aims to close Nigeria’s 8.6 million motor insurance gap.
“There are 12 million registered vehicles, but only 3.4 million are insured, we hope to close that gap”
According to her, the promo will last between the launch date till the end of 2023 for new or returning customers who buy or renew their Motor insurance premium within the given time period.
For the Awoof extra promo, AXA Mansard customers can purchase premium and redeem gifts using a scratch card, debit card, or through any of the company’s advisors.
“For more information on how to renew, buy, redeem promo gifts and download your motor insurance using scratch or debit card, the company said.
Redeemable gifts for this promo include phones, gift vouchers ranging from N3,000, N5000, N10,000 and N100,000, and airtime ranging from N500, N1000, N2000, N3000, N5000, where customers can win either of the listed.
For the comprehensive motor insurance policy and promo, customers get 100 percent value in fire insurance for their homes. For instance, for every N10 million third motor insurance premium purchased, there is an N10 million fire insurance coverage for your homes. Also, customers can choose between property coverage or insuring the building itself.
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To access this promo, renew or buy your comprehensive motor insurance policy through the website, the company’s advisors or welcome stores nationwide. You will be required to fill an accompanying fire insurance form and wait for a response from AXA Mansard advisors who will reach out to process your policies. Once completed, certificates for both comprehensive motor and home insurance are processed.
Odunlami who spoke on the low penetration rate of insurance in the country said that although the promo is aimed to attract more vehicle owners to adopt insurance, she also understands that lack of proper awareness and education is the most significant reason for the low insurance adoption. She, therefore, called on the media to give more support by amplifying the voices of the various insurance companies in Nigeria.
“In a country of over 200 million people, we have only about 3.4 million registered vehicles, and 90 percent of the registered vehicles are from third parties. We are having low patronage from the retail sector which is supposed to be the heart of the market. So, we really need to drive this adoption,” she said
Speaking on the cost accessibility of the entire product at AXA Mansard, Kunle Ahmed, the CEO said the insurance company is more interested in selling to customers what they really need, stressing that the company is aware that the disposable income of many of its customers are drying up which is why the company has reviewed her products to be sure that the required premium is affordable to a larger percentage of its customers at every point in time.
