Sanwo Olu endorses Heirs Life Assurance for provision of annuity for workers

Lagos State government has approved Heirs Life Assurance (HLA) as one of the insurance companies in the country to provide annuity insurance plans for its teaming workforce.

The endorsement of Heirs Life Assurance as an annuity provider in Lagos came less than six months after the company launched its operations as one of the hybrid life insurance underwriters in Nigeria. It will be recalled that both Heirs Life Assurance and Heirs Insurance Company Limited operate as one of the subsidiary companies of the Heirs Holding, a financial service supermarket that prides itself as a top-notch company within and outside the African continent.

Managing Director of Heir Life Assurance  Mr. Niyi Onifade while interacting with newsmen in Lagos revealed that the company is set out to make insurance attractive to most  Nigerians adding that simplicity remains the company’s mantra.

He said the company intends to roll out products that target a wide range of customers, as well as solidify the digital position to offer value to customers, adding that HLA has come to democratize insurance in Nigeria.

According to him, HLA has gotten regulatory approval to underwrite annuity.

“I want to confirm to you that we are writing annuity and that we have obtained all necessary approvals from NAICOM, and we are playing big in the business. And because of the confidence, the Lagos State Government has in us, it has appointed us as one of the key providers of annuity in the state.

Speaking further, he noted that the company is pursuing its vision vigorously, impacting lives and transforming Nigeria.

He said, “People believe more in insurance through us. If you make insurance accessible, people will buy. We make insurance reliable, what is important to a customer is the payment of his or her claim, that is where that reliability comes in. For a customer to rely on you, you must have that financial capacity.

“Today, I can proudly tell everyone that Heirs Insurance is fully capitalized to the tune of N10 billion and Heirs life is fully capitalized to the tune of N8 billion. Apart from that, we have the backing of world-class insurance companies, so that is reliability in action,” he said.

“With simplicity, accessibility, and reliability, we are now getting feedback from the public, people want to buy from us, and people want to engage with us, people believe more on insurance through us. Everything that we do is backed up by technology and that is why we can proudly say that Heirs Life and heirs Insurance are digital insurance companies.

Also speaking, Acting Managing Director, Heirs Insurance Limited (HIL), Dr. Adaobi Nwakuche maintained that Heirs has come to bring changes in Insurance offerings in the Nigerian market.

She said that the company is leveraging on USSD to drive business in a most unique way.

” We want to do things differently, we want to go those places people have not to think of, that is why we are coming up with different channels like USSD that even if you don’t have an Internet-enabled device you can still access insurance.

“The strength and the capacity of the insurance company you are dealing with is also important. So, when we come with those promises, we are not just coming with mare promises. We are coming to lead the way. We have a focus and a plan for the insuring Nigerians and that is what we are here to do,” she said.