Bancassurance: ‘Coronation Insurance, Access Bank’s pact fantastic’



The Chairman, Board of Directors, Coronation Insurance Plc, Mr. Mutiu Sunmonu, has described the partnership between Access Bank Plc and the insurance firm on implementation of bancassurance services as a key milestone in the nation’s financial sector.


Speaking at a webinar on ‘Managing Risks That Keep The CEOs Up At Night,’ organized by the insurance firm in Lagos, Sunmonu pointed out that he was impressed by Coronation Insurance Plc’s achievement since he joined the board of the company.


According to him, the company’s digital maturity and the size of investment made in scaling the digital maturity over the last decade endeared the firm to him.
He said the financial capacity and the talent/potential deployed within the organization have been second to none in the history of insurance industry in Nigeria.


Speaking on the bancassurance partnership with Access Bank, he said: “What does this bancassurance partnership mean to you as a corporate customer of Access Bank?


“We believe this partnership between Access Bank and Coronation Insurance will open a key milestone for the Nigerian insurance industry. Coming together of both organisations, excellent service delivery will be established within the industry.


“Amongst others, the partnership will elevate the level at which insurance services are delivered to corporate customers in the country, marking the level of growth recorded within the banking sector over the last two decades only over a shorter period.


“To officially present the partnership to you, we have set up this webinar session bringing together a team of lead speakers with domain knowledge of corporate risk management.”


He added that this was only a phase of a tailored-high value proposition designed for the bancassurance partnership.


Also speaking on the partnership, Group Managing Director/Chief Executive Officer, Access Bank Plc, Dr Wigwe Herbert, said that the bank, in search of a reliable bancassurance partnership, found some qualities in Coronation Insurance Plc given its strong financial  position and in the speed to respond to claims’ issues.


He noted that the company had recorded a handful of achievements over time, some of which, he said, was the fastest growth corporate risks underwriter over the last decade and also one of the top three most capitalised insurance companies in Nigeria.





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