• Thursday, June 20, 2024
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Prestige Insurance sees growth opportunity in health insurance


Prestige Assurance Plc, a subsidiary of New India Assurance Company Limited has announced plans to provide health insurance cover that would enable citizens enjoy hospitalisation and medical care within and outside Nigeria.

The Company, which is drawing technical capacity and partnership resources from its parent company in India, has already approached the industry regulator, the National Insurance Commission for approval of its new line of products.

Balla Swamy, managing director/CEO, Prestige Assurance Plc who disclosed this during the Company’s 2016 Brokers Evening held in Lagos said this is one of its new products which will hit the market soon.
“We are coming up with a set of new products including a travel insurance policy, health insurance policy, terrorism policy, and personal accident policy among others”.

He said efforts were being made to get clearance from NAICOM as part of its strategy to deepen penetration, grow premium and impact more on the life of Nigerian citizens.

Swamy further noted that the Company continues to be innovative and with more investment in technology infrastructure, having established consumer interaction portals, Prestige is poised to serve its customers and brokers better in a mutually beneficial way.

“Prestige Assurance plc is a stable company. We have been committed to settling claims promptly and customers are happy with us. We are making effort to promote our services by letting people, especially the brokers realise that we are public limited company. Through this, people can subscribe to our service, while the brokers can also assist us in selling the products of the company in our bid to deepen insurance penetration, he stated.

Hassan Usman, chairman of the Company in his remark, said, every forward looking organisation will strengthen relationship with partners, stating that this is the reason why Prestige will always value its broker partners.

“At a time when the economy is going through tough times with depression in rates, the only way to remain sustainable and continue to create shareholder value is to be innovative.”
Usman stated that it’s only institutions that are innovative and strategic in their business operations that would weather the storm, survive and lead the market when the growth opportunities begin to come.

He therefore assured the brokers and customers of the readiness of the Company to create value in the business through adequate infrastructure and customer engagement.


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