Tailored insurance products key to deepening market penetration – Coronation Insurance MD

…As winners emerge in Coronation’s ‘Insure & Win’ promo

Olamide Olajolo, the managing director and CEO of Coronation Insurance Plc, has disclosed that curating insurance products that are tailored to the unique needs of customers is crucial to deepen penetration in the Nigerian market.

“Our strategic collaboration with Access Bank has made it easier for individuals and businesses to obtain insurance coverage, enabling us to reach more Nigerians with products tailored to their unique needs,” he said during the recent unveiling of winners of the first phase of its ‘Insure & Win’ Promo following a live raffle draw held at its corporate head office in Ikoyi, Lagos.[admnager ad_id="desktop_1" placement="desktop" lazy="false"]

Olajolo pointed to the broader challenge of low insurance penetration in Nigeria and Africa, and underscored the success of the ‘Bancassurance’ partnership with Access Bank, which he said has democratised access to insurance for a broader demographic.

He further highlighted the objectives behind the campaign, disclosing that the ‘Insure & Win’ promo is a way of appreciating its loyal customers while reinforcing the importance of insurance in Nigeria.

“Through this campaign, which launched in October and has now been extended into the New Year, we aim to further drive public awareness and encourage the adoption of insurance products,” Olajolo said.

Designed to reward customer loyalty and increase awareness about insurance in Nigeria, the promo features prizes worth N30 million across various draws, including the grand finale. During the first-phase raffle draw, winners emerged from the pool of participants, emphasising customer appreciation and highlighting the impact of insurance in securing the future of Nigerians.

Adebowale Adesona, managing director/CEO, Coronation Life Assurance, highlighted the campaign’s focus on comprehensive protection and customer satisfaction. According to him, the promo is not just about winning prizes but also to ensure that customers have access to the protection they need to secure their futures. “This initiative is a testament to our commitment to delivering value through innovative solutions.”

One of the winners, Ejoke Joseph, who won a bedside refrigerator, shared his excitement by disclosing that the promo is a way of encouraging people to see value in protecting what matters most to them.

“I’m thrilled to be one of the winners in this promo! Beyond the prize, it’s reassuring to know my insurance needs are well-catered for by Coronation Insurance. This is great,” Joseph said.