News Summary:
- Unitrust Insurance guarantees a 48-hour claim settlement to policyholders.
- At a press conference in Lagos, Arowojolu assured policyholders of the organisation’s ability to provide superior customer service.
- According to him, the company paid out N1.09 billion in claims in 2021, N1.98 billion in 2022, and N282.7 million as of the end of the first quarter.
According to its new managing director and chief executive officer, Dayo Arowojolu, Unitrust Insurance Company Limited has refined its procedures to pay claims within 48 hours.
At a press conference in Lagos, Arowojolu assured policyholders of the organisation’s ability to provide superior customer service.
He stated that the company paid out N3.35 billion in claims between 2021 and the first quarter of this year.
According to him, the company paid out N1.09 billion in claims in 2021, N1.98 billion in 2022, and N282.7 million as of the end of the first quarter.
Arowojolu said the company, at the end of the first quarter of this year, achieved N2.99 billion in gross written premium, N396,684 million in underwriting profit, net operating income of N643,173 million, and N382,717 million in profit before tax, stressing that the firm is also targeting a gross premium of N6.80 billion in the year, an underwriting profit of N1.223 billion, investment income of N1.096 billion, profit before tax of N961.64 million, and profit after tax of N846.249 million.
According to him, the underwriting firm recorded N5.357 billion in gross premium in 2022, N283.8 million in underwriting profit, N832.25 million in investment income, and N94.757 million in profit before taxes.
He noted that Unitrust is one of the most reputable insurance companies in Nigeria, with over 37 years of experience in non-life insurance and a reputation for prompt payment of legitimate claims, which is one of the principles underlying the company’s slogan, “Quiet Confidence’.
“Our core values, which include innovation, promptness, integrity, and excellence, have been the hallmark of our customer relationships and the impetus behind our daily operations,” he argued.
He added, “With a solvency margin of 302% as of March 31, 2023, the company’s ability to satisfy valid claims is beyond question.”
“To ensure that claimants receive the highest quality of service, the company has refined its procedures to pay claims within 48 hours of receiving executed discharge vouchers.”