• Wednesday, February 21, 2024
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BusinessDay

Mansard Insurance pays claim on airtime-based policy

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The import of technology in insurance distribution, particularly with telecommunication is receiving attention in this part of the world with successful execution of Mansard Insurance’s first claims on its airtime based policy ‘MTN Y’ello Cover’.

The novel programme is one of the initiatives introduced into the nation’s insurance sector in 2013, expected to boost insurance distribution and enhance market penetration.

MTN Y’ello Cover, one of affordable, airtime-based life insurance product is offered as collaboration Mansard Insurance plc and MTN Nigeria.

Abimbola Olufunke Ogunyemi, a subscriber of MTN Y’ello Cover, who on November 7, 2013, had a minor accident while trying to open a corked wine has made its medical bill claim, confirming the workability of the policy.

According to her, the pressure she exerted on the cork caused a snap in her right wrist, making it impossible for her to use the wrist for a couple of days. She later visited a hospital, where the doctor diagnosed ‘’ganglion,’’ which came about as a result of the force applied to the wrist.

Following receipt of Ogunyemi’s claim request on November 15, 2013 and completion of necessary documentation, Mansard Insurance made her an offer which she accepted. Her claim was subsequently paid on the same day her proper account details were received on December 3, 2013.

Regarding Mansard’s service delivery, the excited Ogunyemi said, “…the service given to me was okay. I was impressed with the follow-up and quick response to disbursement of the fund. Thank you; I never expected anything.’’

Indeed, the claim settlement is an affirmation of Mansard’s ability to fulfil her promises and the leading role MTN Business plays in making lives a whole lot brighter through products and services that are tailored to meet the everyday needs of customers, in line with the vision and mission of MTN Nigeria.

MTN Y’ello Cover offered in collaboration with Mansard Insurance is a simple and convenient way everyone on the MTN network can access an affordable life protection plan directly from their mobile phones. For just N15/ day or N100/ week, subscribers can enjoy up to N350,000 life insurance cover for medical expenses incurred in case of accidents, and also enjoy benefits in the case of accidents resulting in permanent disability or demise.

Mansard Insurance is one of Nigeria’s most capitalised insurance companies on the Nigerian Stock Exchange and is licensed by the National Insurance Commission (NAICOM) to underwrite both Life & General insurance business.