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Chuks Udo Okonta
Gus Wiggle, a well-experienced Insurance Technocrat and former Chairman of the Nigeria Insurers Association, has founded Carefirst Consult to pioneer a new vista in claims management to strengthen the value chain in the insurance industry.
The new company, according to Wiggle, will drive and deliver a new experience for uninsured victims of accidents, policyholders, insurance companies and corporate institutions.
Specifically, Carefirst Consult will assist victims of motor or workplace accidents to get compensations against the insurers of the motor vehicles or their principals against their liability insurance policies.
Their services will also include assisting policyholders who were either denied payment, or offered a settlement that is unreasonably low and unacceptable.
The Founder confirmed that the #ENDSARS riot inspired this new outfit coupled with many policyholders not knowing the extent of their insurance coverages. “Many people are just buying insurance to satisfy the law without understanding that they should report the incidents or accidents to their insurance companies, and resort to settling many claims from their pockets whilst denying the insurance industry of data capturing of claims on our roads, construction sites and product liability” Wiggle asserted.
Additionally, Carefirst Consult will undertake claims investigation, portfolio audit for corporate institutions, and verify the actual risk exposure, risk classifications, coverage provided. A comprehensive and quality insurance audit has been found to be beneficial to corporate institutions saving time, money and resources at the time of any eventuality.
He said, in the UK, there are now companies who are outsourcing their Claims Management to third party companies to save cost or for efficiency. The 2020 Covid-19 lockdown brought about companies exploring options for doing business differently and outsourcing claims management was one of them.
Wiggle also said that “given my knowledge of the working process in an underwriting company, insurance companies have neglected a significant portion of their recoveries from claims and lose lots of inflows that should enhance their revenue line and reduce their claims cost”.
Carefirst Consult will go further to provide Subrogation Services/Local Facultative claims services to help reduce or eliminate this outlay by engaging with other parties and recover whatever is due to the company that engage our services.
“Our deep resources also includes Arbitration which is an alternative to going to court over a claim dispute, an option we consider has not been fully utilized within the claims management process” said Wiggle.
Carefirst Consult has a solid team of experts in its respective areas of services on offer and happily welcomes the challenge to help the public enjoy better insurance experiences whilst deepening insurance penetration in Nigeria.