As part of efforts to deepen its penetration and gain larger market sure in the country’s insurance market, Underwriting firm, Anchor Insurance Company Limited has added to its staple two new products.
The products, Anchor Travel Insurance and Anchor Agriculture Insurance, the Company said has been developed and designed after stringent research to meet the needs of nits teaming customers and close perceived gap in the market.
Austine Ebose, managing director/CEO of Anchor Insurance speaking at the media launch in Lagos said the company is excited to add to its product lines Anchor Travel Insurance and Anchor Agriculture Insurance having received approval from the National Insurance Commission (NAICOM).
“We were particularly glad when we received the approvals as it provides the opportunity for us to extend our well known passionate service difference and finesse to drive the products for the maximum comfort of our potential customers. For about 30 years that Anchor Insurance Company has been in operations, we are remarkable for excellent delivery of services to our teeming customers, Ebose said.
On the Anchor Travel Insurance, he said “This product which we are running under an agreement with Mapfre Asistencia, based in Spain, comes with different features and benefits. It comes with a family plan which ensures that children between three months and 18 years travelling with their parents only pay half of the premium rate being charged. It further comes with premium discount package for group subscriptions. The group is expected to have a minimum of 10 persons. The discounts range from 5 percent to 25 percent according to the number of persons that make up the group.”
According to Ebose, because of perceived risks associated with certain categories of age, the policy comes with variations in the premium charged to persons aged between 66 and 75 years, 76 and 80 years and 81 years old where only the Schengen policy is available.
“The policy comes with three travel protection plans: Schengen, Worldwide and Worldwide 1.”
According to him, there are several unique benefits the product offers and this includes Medical emergency assistance which includes medical expenses and hospitalization abroad, emergency medical evacuation, repatriation of family member travelling with the insured, emergency return home following death of close relative, repatriation of mortal remains; Personal assistance benefits which include legal assistance, pre-departure services, abroad information assistance about lost luggage and passport, delivery of medicines; Losses and delays benefits which include loss of passport, driving licence, national identity card abroad, compensation for in-flight loss of checked-in baggage, compensation for delay in the arrival of luggage, delayed departure.
Other benefits include Personal accident benefits which include accidental death, permanent disability, as well as Civil liability benefits.
“The policy offers a maximum of 92 consecutive days abroad per trip. Annual cover for non-consecutive trips is also for a period not exceeding 92 consecutive days.”
On the Anchor Agriculture Insurance, the products include Multi-peril Crop Insurance which covers against the risk of fire, lightening, pest/diseases, drought, flood, windstorm and aircraft. This policy covers damage for all cash and arable crops; and Fishery Insurance that takes care of risks of death of the fish as a result of diseases and collapse of the pond.
Others are Poultry Insurance which is essentially against the death of birds as a result of accident, diseases, fire, flood and windstorm; as well as Livestock Insurance which insures against the death of animals due to accident, pest/diseases, fire.
Modestus Anaesoronye
