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Chuks Udo Okonta
“I feel very happy and excited that insurance now works in Nigeria particularly because FBNInsurance responded and paid my medical claims benefit very fast.” These were the words of Taofik Yahaya, the first claimant under the Sure4Life mobile insurance product of FBNInsurance Limited.
Yahaya, who got a text from his network, Etisalat, to purchase the policy by sending ‘LIFE’ to 48433, and followed the instructions, was glad he did, as a few weeks ago, he needed urgent medical attention and FBNInsurance responded with a N10,000 medical expenses benefit.
An elated Yahaya when asked how he felt being a beneficiary of Sure4Life, said: “I feel very happy and excited that insurance now works in Nigeria particularly because FBNInsurance responded and paid my medical claims benefit very fast. The payment I received from FBNInsurance helped to reduce my medical expenses and I am so delighted they came to my rescue.”
When FBNInsurance introduced mobile insurance in partnership with Etisalat and Airtel in 2013, many felt it was not a viable innovation. Sure4Life and Padi4Life, the two mobile insurance products of the insurance company, were introduced into a skeptical Nigerian market with the aim of making insurance available to all and sundry.
Speaking earlier in the month at the media parley that flagged off the 5th anniversary celebrations of FBNInsurance, the Managing Director, Val Ojumah, said: “Mobile insurance remains the easiest means to sell insurance to the low income Nigerians who may not be able to buy the comprehensive insurance cover. As you are very much aware, there are more than 100 million mobile lines in Nigeria. So, the easiest way to reach out to them is through mobile insurance because this product fits a large proportion of the populace.”
FBNInsurance mobile insurance products include Sure4Life and Padi4Life. Sure4Life is driven on the Etisalat network and is available for as low as N100 per month (or N25 per week) while Padi4Life is available on Airtel for as low as N20 per day by texting LIFE to 45433.