Insurance

Sovereign Trust Insurance wins most innovative retail brand award

From left: Deputy General Manager, Sales & Corporate Communications, Sovereign Trust Insurance Plc, Segun Bankole,being presented with the ‘Most innovative retail brand award 2018’ by the Executive Secretary of the Nigerian Council of Registered Insurance Brokers, Alhaji Fatai Adegbenro at the 2nd edition of the Business Journal Annual Lecture/Awards at the Sheraton Hotel, Lagos.

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The journey to greatness has a lot of hard work and sense of purpose attached to it. For Sovereign Trust Insurance Plc, consistency, professionalism, integrity, creativity, an uncompromising stance for providing far-reaching retail products and services has earned the organisation another Award at the 2018 Annual Lecture/Award organized by Egelon Communications Company, Publishers of Business Journal, a comprehensive Insurance and Pensions Magazine under the direction of Prince Cookey.

In recognition of the immense contributions of the organization to the development of retail and affordable insurance products to the insuring public, the Organizers of the annual Lecture/Award through its Award Committee nominated Sovereign Trust Insurance Plc as one of the possible recipients of the award and at the end of it all, the company emerged the winner of the Award for year 2018. The event was gracefully attended by Captains of Industries, Brand Management and Marketing Practitioners, the Media and members of the Public. The event was Chaired by the Chairman of the Nigerian Insurers Association, Mr. Tope Smart, Managing Director/CEO of NEM Insurance Plc.

The criteria for the Award as given by the Technical/Awardcommittee included, efficiency in service delivery, creativity in product development, branch network, the use of technology, media presence of the Brand, adherence to Ethics and Corporate Governance and the quality of Human Resources available to the organisation within the period of the nomination and the screening process.

According to the Managing Director of Egelon Communications Company, Prince Cookey, the screening process for the companies nominated for the award was carried out by a group of seasoned Brand Management and Marketing Consultants and some notable members of the Public. “It was a very rigourous process in determining the eventual Winner for the award but at the end of the day, Sovereign Trust Insurance Plc was adjudged by all as the Winner for the award category in question”.

Prince Cookey further reiterated that insurance companies still need to do a lot of work in terms of product development that will impact positively on the lives of the average Nigerian as insurance in the country is still viewed by many as a service for only the rich.

It will be recalled that Sovereign Trust Insurance Plc launched a Personal Accident Cover with the acronym SWIS-F, (Sovereign Wellbeing Insurance Scheme for the Family with an annual premium of N1,500 for adults and N250 for children under 6-17 years with benefits to cover medical expenses for injuries sustained as a result of an accident, permanent disability compensation, burial expenses with a nationwide geographical coverage. In 2018, the company also introduced the Enhanced Third-Party Motor Insurance Policy, (E3P), a hybrid of the conventional Third-Party Cover and Comprehensive Motor Insurance with varied premium ranging between N10,000-N25,000 for the Insured to choose from depending on the range of cover he/she wants.

while receiving the Award on behalf of the organization, the Head of Sales and Corporate Communications Mr. Segun Bankole thanked the organizers of the event for the honour they have bestowed on the organization and promised that the company will not rest on its oars in ensuring that the insurance Industry find a credible voice in the Financial Service sector in the country and beyond. In his words, “we will continue to provide top-of-the-range insurance products and services that will delight our customers anytime they come in contact with our Brand”. We are open to new ideas from members of the public in as much as those ideas will add value to what we do as an organization.

He also used the occasion to enjoin the gathering to embrace insurance if they have not yet been exposed to one form of insurance or the other. In his parting words, “Insurance is a sure guarantee for the continued existence of any commercial enterprise and a sure mainstay for the continuous wellbeing of any individual or Family.”

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