Insurance

Old Mutual partners Newhomes.ng on innovative digital insurance solutions

From left: Chief Operating Officer, Newhomes.ng, Idris Etti; Director Afreal Limited, Brian Hammond; Executive Head, Marketing Old Mutual Nigeria, Alero Ladipo; Chairman Afreal Limited, Prof. Chris Ogbechie; Managing Director, Old Mutual Nigeria, Jeff Duru and Managing Director, Afreal Limited, Maurice Okoli, during the press briefing to announce the partnership between Old Mutual Nigeria and Newhomes.ng in Lagos on Tuesday, May 14, 2019.

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Chuks Udo Okonta

Old Mutual General Insurance Company Nigeria Limited, a subsidiary of pan-African Insurance Company and leading global financial services group, Old Mutual Limited, determined to deepen insurance penetration in Nigeria, has entered into a strategic insurance partnership with Newhomes.ng, an innovative online real estate market hub, on innovative digital insurance products for the industry.

At the unveiling of the partnership today in Lagos, the underwriter noted that the collaboration serves as an opportunity for it to provide insurance protection for property owners and homeowners.

According to the Executive Head, Marketing and Customer Experience, Old Mutual, Alero Ladipo, the firm would through the newhomes.ng platform, provides a Premium Home Insurance package to existing and prospective property owners with benefits including; Building fire and peril, Household goods and personal belonging, Burglary, Fire Insurance, Alternative accommodation cost in event of home loss, Personal Accident cover and Personal Liability cover.

“This partnership signals our strong commitment to Nigeria and her growing industries such as the real estate markets. As Nigerians invest their hard earned monies and investments in bridging the huge supply gap in the provision of housing for the citizens, it is imperative to recognise the risks that threaten these investments and put a financial protection plan in place. This is where Old Mutual comes in.

“We have taken it upon ourselves, as insurers with over 170 years of experience, to enter into this exclusive partnership with Newhomes.ng, to provide innovative technology led solutions aimed at delivering the right insurance services for homeowners in Nigeria and at the same time bridging the gap of access to basic financial insurance.

“Our partnership with Newhomes.ng provides the customers (whether individuals, investors or corporates) can access an array of property and home insurance products at just a click from a mobile device or computer. In other words, from the Newhomes.ng platform, Nigerians would be able to calculate their premium in seconds, complete seamless transaction end to end and obtain their policy certificate, all from the comfort of their homes or offices,” she said.

From left: Director Afreal Limited, Brian Hammond; Chief Operating Officer, Newhomes.ng, Idris Etti; Executive Head, Marketing Old Mutual Nigeria, Alero Ladipo; Chairman Afreal Limited, Prof. Chris Ogbechie; Managing Director, Afreal Limited, Maurice Okoli and Managing Director, Old Mutual Nigeria, Jeff Duru, during the press briefing to announce the partnership between Old Mutual Nigeria and Newhomes.ng in Lagos on Tuesday.

Chairman Afreal Limited, promoters of Newhomes.ng, Prof. Chris Ogbeche, said the digital platform gives everyone access to owing a home, stressing that the real estate sector before now has been slow in adopting technology, but Newhomes.ng has come to revolutionized the industry.

He maintained that the digital platform is the first of its kind in Nigeria, whilst urging the public to leverage the platform to access their dreamed homes.

Managing Director Afreal Limited, Maurice Okoli, said the platform was designed to bridge the gap between real estate developers and prospective home seekers, adding that the firm would tackle awareness issues through technology and that with the platform the issue of liquidity is being solved.

He maintained that the firm is determined to grow home ownership in Nigeria and that
the platform has zoro per cent cost for users.

ABOUT OLD MUTUAL

Old Mutual General Insurance Company Nigeria Limited and Old Mutual Nigeria Nigeria Life Assurance Company Limited are part of Old Mutual Limited which provides protection, savings, investment and lending services to 11.3 million customers in 17 countries across Africa, Asia and Latin America.

Having acquired the majority stake in Oceanic Life Assurance Company, Old Mutual has been operating in Nigeria since March 2013. In January 2014, Old Mutual also acquired a majority stake in Oceanic General Insurance Limited thereby offering both life and general insurance solutions tailored to meet unique individual and corporate client’s needs.

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