In the recent Banks and Other Financial Institutions (BAFI) Awards, AIICO Insurance Plc., a leading insurer in Nigeria, emerged as Life Insurance Company of the Year and Digital Insurance Company of the Year. The keenly contested categories had top-performing competitors jostling for the win. The awards are well-deserved recognition for the industry’s leading position and the exemplary role played by AIICO in the insurance sector based on its sound strategy, disciplined execution, and impressive governance.

According to the organizers, the Life Insurance Company of the Year Award is presented to AIICO for having demonstrated market leadership through innovation in products and best practices, outstanding customer service, diversity of product lines, claims processing excellence, stability and reliability, and cost/fees.

In like manner, The Digital Insurance Company of the Year Award (Global Awards Category) is being inaugurated this year to recognize an insurance company that has led the way in technology adoption across sales, marketing, product innovation, client experience, and customer service. AIICO emerges as the winner of the award based on how successfully it has harnessed technology and digital solutions to improve its business, aid its employees, and improve the overall client experience over the past 12 months.

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Babatunde Fajemirokun, MD/CEO of AIICO Insurance Plc., ably represented on the occasion by Olusanjo Shodimu, divisional head, Shared Services, appreciates the leadership of BusinessDay, the organizers of the awards, and AIICO’s esteemed customers, employees, the Board, and other stakeholders to whom the awards are dedicated. He promised that the company would not rest on its oars and would continue to do better at what it does—creation and protection of wealth for its customers.

The BAFI Awards, backed by BusinessDay’s Research and Intelligence Unit, recognize the achievements of players in the financial services industry in several categories that cut across banking, insurance, and other financial services.

AIICO Insurance is a leading composite insurer in Nigeria with a record of accomplishment serving its clients that dates back over 50 years. Founded in 1963, AIICO provides life and health insurance, general insurance, investment management, and pension management services to create and protect wealth for individuals, families, and corporate customers.

Modestus Anaesoronye is a leading Nigerian financial journalist with over two decades of experience reporting on the insurance and pension sectors across Nigeria and West Africa. He has held key editorial positions at major national media outlets, including The Comet, The Nation, and Financial Standard, and currently serves as a Senior Financial Analyst at BusinessDay Media Ltd. A widely travelled reporter, he has covered industry developments in more than 14 countries across Africa and Asia. Anaesoronye is a multiple award-winning journalist, honoured several times as Insurance Journalist of the Year and Pension Journalist of the Year by recognised industry bodies, including PensionScope and the Pension Fund Operators Association of Nigeria (PenOp), among others.

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