African Alliance Insurance Plc: Successfully Recertified for ISO 22301:2019, Demonstrating Unwavering Commitment to Customers

Posted on: 21st Jun 2023

African Alliance Insurance Plc, announces yet another remarkable milestone, as it has successfully achieved full compliance with all Business Continuity Management (BCM) requirements, and has been recertified by Management Systems Evaluation Certification Board (MSECB) on ISO 22301:2019 for the 2nd consecutive time.

This successful recertification reflects African Alliance Insurance’s unwavering commitment to delivering value and ensuring continuity for customers, and all stakeholders involved.

Joyce Ojemudia, the Managing Director and CEO of African Alliance Insurance Plc, expressed her utmost pride and satisfaction with this significant achievement. “Securing our 2nd consecutive recertification on ISO 22301;2019 is a significant milestone for African Alliance Insurance Plc. It reaffirms our unwavering commitment to maintaining the highest business continuity management standards and ensuring uninterrupted services to our esteemed clients.

Joyce Ojemudia expressed gratitude to the entire BCM team, led by Olabisi Adekola, Executive Director, Finance, and proficiently managed by Patrick Eka-Iloma, BCM Manager, for their invaluable contributions to the company’s achievements.

With a legacy of over 63 years as Nigeria’s leading life insurer, African Alliance Insurance remains steadfast in its commitment to excellence. The recertification of the ISO 2230;2019 accreditation serves as a testament to our continuous drive for improvement and unwavering dedication to lifelong partnerships with our stakeholders.

ISO 22301:2019, a globally recognized Business Continuity Management Standard by the International Organization for Standardization (ISO), establishes rigorous criteria for organizations to safeguard against, prepare for, respond to, and recover from potential disruptive incidents, ensuring effective business continuity management strategies are in place.

African Alliance Insurance Plc a foremost life insurer and leader, has distinguished itself in the insurance sector, for its cutting-edge products, prompt settlement of claims, top-notch customer service, and dedication and commitment to excellence.

African Alliance Insurance Plc awarded Insurance Company of the Year

Posted on: 31st May 2023

African Alliance Insurance Plc, has once again reaffirmed its leadership position in life insurance business in Nigeria, as the company was crowned the ‘Insurance Company of the Year’ by National Daily Newspapers.
African Alliance Insurance, beat other nominees in its category, taking away the award for the Insurance company of the year award.
The award which is a recognition of the company’s unflinching dedication to excellence, customer-focused strategy, and unwavering performance over the years, comes on the heels of various awards held by the company.
Also, the Managing Director/CEO, African Alliance Plc, Mrs. Joyce Ojemudia, emerged ‘Insurance Personality of the Year’ for her various achievements since she took over the leadership of the company.

Her exceptional leadership, strategic vision, and outstanding performance in driving the growth and success of company was what stood her out for the award.
Receiving both awards, Ojemudia expressed deep appreciation to the Almighty God, the Board of Directors, and the entire team at African Alliance for their unwavering dedication and hard work.
She also extended heartfelt gratitude to the customers and stakeholders for their trust and unwavering support, which has propelled the organization to greater heights.
She said “this double win is a testament to our unrelenting pursuit of excellence, our commitment to settling genuine claims, and our passion for providing exceptional customer service. Our consistent 17% increase in claims settlement year on year since 2020, with over N27.6 billion paid out, over three years, has been a major contributing factor to our recognition as Company of the Year.”
African Alliance Insurance Plc has been a major player in the Nigerian insurance industry for over sixty-three years, upholding values of paying genuine claims and excellent customer service.These awards are a testament to the company’s commitment to excellence and dedication to meeting the evolving needs of its customers.
The event tagged: “National Daily Award of Excellence” was held recently at the Oriental Hotel, Lagos under the chairmanship of Prince Julius Adelusi, founder of Juli Pharmacy while former President Olusegun Obasanjo who was a special guest of honour delivered the keynote address.

CSW2022: African Alliance Insurance excites customers with N6.65bn claims

Posted on: 12th Oct 2022

CSW2022: African Alliance fulfils N6.65bn claims

Foremost Life Insurer, African Alliance Insurance PLC, has demonstrated her commitment to customer satisfaction with the payment of N6.65bn in claims as at the end of the third quarter of the year. This is coming on the heels of this year’s Customer Service Week with the theme ‘Celebrate Service’.

Restating the firm’s relentless devotion to customer satisfaction, the MD/CEO, Joyce Ojemudia, assured the leading insurer’s commitment to prioritizing her esteemed policyholders. “At African Alliance Insurance PLC, paying genuine claims is a trust we do not intend to break. For sixty two years, we have done this without fail and this is exactly why we remain as one of Nigeria’s foremost Life insurers,” she said. “We are not inured from current economic realities. We understand how critical the times are hence our boundless resolve and commitment to fulfilling our mantra of being with them for life. On the occasion of the just concluded Customer Service Week, we would like to reassure our customers that indeed we care and look out for them at all times.”

Furthermore, Ojemudia emphasized the company’s ongoing claims payment process which is backed by year-on-year evidence of fulfilled claims. “We will continue to make sure that our strategies are updated to meet up with the demands of paying claims as due.”

According to the year-to-date break down released to the media, the Life insurer revealed it has paid a whooping N3.13bn to its Annuitants; N1.43bn in Group Life claims; N1.17bn Individual Life; N544m Takaful as well as N298m Esusu pay-outs.

Incorporated in 1960, African Alliance Insurance PLC is widely regarded as the strongest and most experienced life insurance specialist in these climes with its HQ in Lagos and 18 branches nationwide.

Signed

Bankole Banjo

Brand, Media and Communications Manager

African Alliance fulfills N4.08bn claims in 6 months

Posted on: 28th Jul 2022

Foremost life insurer, African Alliance Insurance PLC has revealed that in the first six months of the year 2022, it has paid some ₦4.08bn in claims to its customers spread across its several lines of business.

Speaking on the firm’s claims profile, Joyce Ojemudia, MD/CEO, African Alliance Insurance PLC, reaffirmed the company’s commitment to paying genuine claims as due. “African Alliance Insurance PLC was built on a solid foundation of claims payment. Year in, year out, we do not shy away from fulfilling this critical obligation to our policyholders as due,” she said. Ojemudia restated the company’s unchanging commitment to satisfying her teeming customers. “Our pay-off is not just a pretty statement of fact but indeed an assurance, nay promise, to remain with our policyholders for life, come what may. Sixty-two years on, we have not shirked from that promise,” she concluded.

According to the year-to-date breakdown, the life insurer paid N1.81bn in Annuity claims; N857.2mn in Individual Life claims; N765.4m Group Life; N436.3m Takaful as well as N208m Esusu payouts.

Incorporated in 1960, African Alliance Insurance PLC is widely regarded as the strongest and most experienced life insurance specialist in these climes. Operating out of its HQ in Lagos, the ISO-certified firm has continually defied the odds as it continues to service all classes of Nigerians and businesses with best-in-class life insurance products.

African Alliance at the 48th AIO Conference in Nairobi.

Posted on: 28th Jun 2022

Snapshots from the African Insurance Organization Conference

All You Should Know About Takaful

Posted on: 20th Oct 2020

What Is Takaful?

Takaful is a policy of mutual co-operation, solidarity, common interest, shared responsibility, joint indemnity and brotherhood against unpredicted risk or catastrophes, in which the participants involved are expected to contribute genuinely.

Takaful in Arabic means “Joint Guarantee”. It provides policyholders with the self-discipline for savings and investment and encourages the habit of sound financial planning to take care of themselves and the needs of their children and families.

A Family Takaful Plan is an ethical insurance product that combines long-term savings, investment, and financial protection meant to cater for future contingency needs.

Objectives of Family Takaful Plans are:

• To save regularly for a fixed period with a view of creating a contingency fund for future needs such as retirement, children education, Hajj etc.
• To invest with a view of earning profits in a manner acceptable to the principle of shariah, this, in turn, will lead to further accumulation of savings.
• To obtain cover in the form of mutual financial aid from payment of Takaful benefits to the heir(s) should a participant die before the maturity of his Takaful Plan.

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How Insurance Claims Work

Posted on: 16th Apr 2019

People are naturally not very trusting. Not of each other, not of the government and most certainly not of corporate entities. Therefore, it is not at all surprising that people have an inherent distrust in insurance companies and especially on the subject of insurance claims.

Now, we can go ahead and say that this lack of trust in insurance companies and insurance claims, could be as a result of a deficit in information coupled with very little or no sensitization on the matter – and this would be true. However, this is not the only reason people shy away from insurance. While it is a major factor (not having all the facts about how it works), there is also the issue of mismanagement and unprofessional behavior from (either fraudulent or inexperienced) insurance companies. Some of these people have had personal encounters that have left no pleasant memories, while the larger set of people in this category have heard stories of insurance claims gone wrong or unsubstantiated rumors which have only made matters worse.

In order to quell the misunderstanding and lack of information revolving around insurance claims, it is pertinent to know how it actually works. At African Alliance, we do our best to make this process is as easy, as straightforward and as seamless as possible. Here are some tips to ensure that nothing goes wrong;

1. Consistent Signature.

In the initial stage when signing up for an insurance policy, you will be presented with what is called a proposal form. Make sure that your signature on this form is consistent (the same) as the one on the claim form. This will avoid a lot of unwarranted issues in the future.

2. Valid Identification.

Always provide a valid means of identification. So whether it’s a National ID card, International passport, Permanent Voter’s Card or a Driver’s License, make sure that it has not expired when presenting it for documentation.

3. Up-To-Date Bank Account Information.

The person whose life is being insured must have an active bank account when making claims.

It may not seem like much, perhaps it looks too easy, but with these simple guidelines strictly adhered to, insurance claims at African Alliance tend to go on without a single hitch. It may also interest you to know that these steps are sometimes also easily taken for granted.

It is also important to note that corporate accounts will not cut it for insurance claims and we believe that you would also agree that it is far easier to make payments into your personal account. However, in a case where the claims are to be paid into a joint account, make sure to provide proper documentation of said joint account in order to experience an unproblematic process. Insurance claims work and the smoothness of the procedure or process is also dependent on the insurance company. Hence, when it comes to life you should choose African Alliance PLC, we’re your best bet for all things life insurance.

The Right Time to Buy Insurance is now!

Posted on: 10th Apr 2019

One of the things people like to put off until much later is insurance. For either a lack of concrete information, sensitization or some reason yet unknown, they see no immediate need for it and would often procrastinate on getting one for a long period of time. In many cases, folks tend to push back getting insurance as far back as years (not even months). It is quite common to see people who have been thinking (or may have heard about insurance) and yet haven’t found the time or seen the need to get it right away. Some of these people have had insurance pending for as much as a decade or even more.

Nonetheless, we can boldly say that the right time to buy insurance is now! We understand that a lot happens in the life of an individual and people tend to get carried away with their highs and lows, successes and failures, and so on and so forth. However, the importance of getting insured cannot be overemphasized yet this will not hinder us from telling you why you need to get insurance and why you need to get it now.

Why Do You Need Insurance?
Insurance helps you to adequately prepare for the unforeseen. We do not wish that harm will come to you and it is safe to assume that you do not wish such for yourself either. However, life itself is a risk and as much as we all love living, no one can tell when he or she will make an exit. Therefore, you need (life) insurance to (financially) protect the people you love and care for, in case of an accidental loss of life.

African Alliance is an authority on all things life insurance. We are professionals at guiding our customers on how to protect the interest of their loved ones in a world where tomorrow is not promised. You need insurance to safeguard the future of your loved ones.

What Can You Insure?
You can take out a “life” insurance cover for yourself and your loved ones. However, there’s are also lots of insurance companies that provide insurance covers for properties and personal items of value. Things such as your cars( hence whether you are looking for a family car, or you simply want a spacious compact SUV for a weekend trip, the Conklin Buick GMC Hutchinson is sufficient for your needs) house, business, disability, health and so on and so forth.

There are even other types of insurance schemes that cover unique items such as body parts (nose, legs, etc), engagement rings, voice, and face and so on. However, African Alliance handles all things regarding and relating to life insurance.

Why Do You Need It Now?
1. As mentioned earlier, no one can foretell what happens hereafter. It is better to secure your family’s future now by getting a life insurance cover (preferably from us here at African Alliance).

2. Getting (life) insurance when you’re much younger is a plus. This is because you’re most likely healthier and you enjoy a significantly lower risk of incurring any health issue. This can help you bargain for better insurance so why not do it now? Note that whatever your age may be right now even as you read this, it is still the best time to get insurance.

The more time you spend procrastinating on getting insurance the more disadvantaged you become. This is evident in the kind of insurance you’re able to get and also in the event that something happens to you without any plan for your loved ones. There is a popular saying; “the right time to plant a tree was 50 years ago, the next best time is now”. This is the exact same principle for getting insurance, the best time to get one is now!

How to Include your Step Child in Your Insurance Policy

Posted on: 4th Apr 2019

There are some topics of discussion that we’ve either never thought about or haven’t exactly found the time to do research on. One of such topics is how to include your stepchild in your insurance policy. The truth is, your family is all that you’ve got and whether you are related by blood or connected by love, you should want to take care of them the best way that you can. So whether your child is your direct offspring or not, you can always include him or her in your insurance policy.

Here at African Alliance, we have comprehensive insurance covers that cater to your entire family. We’ve made it as simple and as straightforward as possible so that our customers are able to enlist a variety of beneficiaries including their children who aren’t necessarily related to them by blood (stepchild or children). Anyone who would suffer a financial loss due to your demise can be enlisted as a beneficiary to your life insurance coverage provided that all necessary requirements and documentation are met.

So how does one go about this, what are the steps to take in ensuring your stepchild is included in your insurance policy? The four basic things to do are as follows;

1. Ask about the Procedure.

There is a procedure or a method for these sort of things and every insurance company has one installed for a case such as this. Therefore, the first step to including your stepchild in your insurance policy is to either place a call, send an email or visit the insurance company to find out what the procedure is to make this happen. Different insurance companies tend to go about situations like this in their own unique way. Call us, email us or visit us today at African Alliance to find out the procedure to get this done.

2. Ask about the Documentation.

Getting to know the procedure is great and very necessary as we have explained above. What comes next is the necessary documentation required for the furtherance of this process. Your stepchild is a personality void of your own and hence you will need to present documents supporting your claim and also stating your purpose for doing this. Again, you can reach out to us here at African Alliance to guide you on what to do and what documents you would need.

3. Ask about the Cover.

It is very important to know what you’re enrolling your stepchild for and hence it is only wise to ask about how your insurance policy covers him or her. You also need to request for information regarding whatever costs additional costs you may incur from including your stepchild in your insurance coverage. There may be sums deducted or extra payments to be made and asking about the cover will get you the information that you need. Let us know at African Alliance if you need help with this.

4. Ask to Confirm the Implementation.

After all, is said and done, make sure you check to confirm that your stepchild has been included in your insurance policy. No one is free from human error and for such a delicate thing as this, it won’t take much to confirm that the changes have been implemented.

Your stepchild shouldn’t suffer financially because they do not bear the same name as you. If you love them and think they should be catered for, you can express this love by including them in your insurance policy.

The Benefits of taking on a New Corporate Identity

Posted on: 29th Mar 2019

African Alliance has had a long and industrious tenure in the insurance business spanning over 59 years (since the 6th of May, 1960) and in that time we have diligently built our corporate identity to what it is today. However, it is time for a change and it’s the perfect time for reform. Hence, as one of the foremost insurance companies not just in Nigeria but in Africa, we have decided to take up a new corporate identity.

Your identity is you and you are your identity. What this simply means is that whatever you stand for is fully expressed in what makes up your brand’s identity. It is a reflection of your core values and how you operate. It is how the world will come to know your brand. Therefore, the corporate identity of any organization is essentially the manner in which that organization is perceived.

Change is said to be the only constant thing in life and at African Alliance, we do not resist change but instead, we embrace it. However, the decision to take on a new corporate identity is not a rash one (it wasn’t taken overnight), as we have been meticulously researching and reviewing our policies, modus operandi and most especially what it means to make our customers happy for a while now. We have dug deep into this current dispensation, in a bid to uncover what the best fit is in these modern times.

What are the Benefits of taking on a New Corporate Identity?

1. New Audience.

As mentioned earlier, one of the major benefits of taking on a new corporate identity is the opportunity to reach a new audience. We are particularly excited that we would be able to reach a new demographic (a new audience) especially one that is targeted towards young people (who are known to be the strength of any economy). A new audience means new business and new business means profit.

2. Unveil New Goals.

As mentioned earlier, we have reviewed everything within our quarters including policies and goals. Moving forward, enviable policies, schemes and so much more will be unveiled. Thanks to the opportunity of a rebranding process, we would able to pursue and unveil new goals that are highly beneficial to our customers. GCP interconnect allows for you to connect to other clouds as well as Google’s.

3. Relevance.

One of the most important dividends of taking on a new corporate identity is that it helps a company’s brand to remain relevant. We have spoken previously about change and hence changing or switching up your corporate identity helps your brand to keep up. Updating our identity right now is very strategic and this is because as a company, a new identity helps to keep us in the running for greatness.

We believe that any entity that plans to survive must evolve. We are not blind to the new and continuously growing demographic of young people and as such we have decided to intentionally reach out to them. Connecting with the youths and ensuring customer satisfaction of existing clients is a major priority for us right now and we are working tirelessly to see this through.