Cornerstone Insurance to digitally empowers agents for retail business

From left: Executive Director Business Development & Chief Client Officer, Chidiebere Nwokeocha; Managing Director/Chief Executive Officer, Stephen Alangbo and Executive Director,Technical Operations, Peter Ekwueme at the event

* Role of agents critical in insurance business MD

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Chuks Udo Okonta

Cornerstone Insurance Plc said it would digitally empowers its agents as part of plans to open and harness opportunities in retail underwriting business.

The Managing Director/Chief Executive Officer of the company, Stephen Alangbo, at a press conference recently, said the firm has taken the initiative due to the critical role plays by agents in insurance business.

He said the would deploy robust digital devices through agents, which would aid onboarding of policyholders and prompt claims payments.

Alangbo, who shared his experience on how agents operate in countries such as Kenya; Germany and Hong Kong, noted that agents are major distributors of micro insurance products in the aforementioned nations.

He submitted that the firm would open the retail space through developments of micro products and would digitally empower agents to sell the products, stressing that his administration would demystify insurance practice in the country and make people buy insurance products voluntarily owing to the value propositions to be embedded in the products.

Alangbo noted that he hopes to take the firm to lofty heights leveraging people; process; product and promotions – a drive he tagged 4Ps.

He maintained that with supports from his team, he would build top and prominent leaders in the firm; leverage Artificial Intelligence (AI) to drive processes; evolves people friendly products and promote partnerships.

Alangbo submitted that the firm is standing strong on the group’s assets worth over N70 billion and has within the first half of year 2023 wrote premium of over N14 billion and paid claims of N4 billion.

He said the firm has over the years been a leader in information technology deployment, adding that it had successfully invested massively in information technology and would continue to engage in research and development to better its products and service offerings.

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