GOXI Micro Insurance Company, a foremost micro-insurance company in Nigeria has paid out N280 million claims just two years after its establishment.
The company has also launched a new campaign to drive penetration in the Countries under-penetrated industry.
The campaign “We Dey Your Back” targeted at the grassroots runs from December 13, 2021, to January 17, 2022, and is positioned to deliver unique insurance solutions to the Nigerian population.
Established with the vision of breaking the barriers of poverty and giving meaning to the life of its customers through innovative risk management solutions for low-income Nigerians in rural and urban communities, GOXI Micro Insurance offers a bouquet of insurance cover for lives, farms, shops and assets.
Speaking about the campaign, Godwin Ehigiamusoe, chairman noted that the campaign, “We Dey Your Back” aims to help Nigerians to have a sustainable future for their business and family. We are poised to deliver responsive insurance policies through flexible and innovative structures.
He said, “For us at GOXI Micro Insurance Company, we are ready to educate traders, farmers and other low income Nigerians on the various insurance policies that will insure them against all forms of risks.”
Shina Gbadegesin, managing director of the company said Goxi Microinsurance is licensed to offer all forms of Life and Assets insurance and the company has creatively developed products that addresses the need of Nigerians.
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Some one of these products includes GOXI Micro Protection, which helps to repay loans or debts due to unforeseen events and extras to help them quickly return to business; GOXI Ma Business, which helps to fund businesses when goods are damaged by fire, theft or burglary; and GOXI Cooperative Welfare Scheme, which is designed to address welfare of members of an association, groups, family and medical treatment expenses in the event of accident or permanent disability.
Others are GOXI Agric Loan Protection that helps to protect agric entrepreneurs repay agricultural loans following unforeseen events, like flood or damage to crops or farm produce and their animals”
Gbadegesin further said that the company has been prompt and consistently meeting its obligation of claims settlement to customers.
It was reported that over 77 million claims have been paid by the company as at the end Q3 2021 making a cumulative of over N208 million claim paid within the period of 2years that the company commenced full operations
“GOXI Micro Insurance Company is the first licensed stand-alone micro-insurance company under the guidelines of the National Insurance Commission. We are open to partnership with microfinance banks, institutions, and different forms of association, telcos and other aggregators to deliver risk management solutions to their members. We are not unaware of the challenges around providing insurance cover for persons at the bottom end of the society. We have strongly demonstrated this through records of our claims payments to traders, Artisans, Micro and small business owners within the period that we commenced operation. We are poised to continuously address these challenges”, he added.
