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.
Posted on: 2nd Feb 2023
Award Winner of “Claims Excellence Insurance Company of the Year 2022” awarded by Banks and Financial Institutions (BAFI), continuously demonstrates its unmatched leadership in the settlement and payments of genuine claims by paying N25.7B in 3 years.
African Alliance, the foremost Life Insurer, has consistently increased claims payment by 17% year on year since 2020, with a total of N25.7 billion paid over three years. In 2020, African Alliance paid out over N7.1 billion in claims, which increased to N8.3 billion in 2021, and a whopping N9.7 billion in 2022.
The breakdown of 2022 shows N4.26 billion paid to annuitants, N1.76 billion in Group Life claims, N1.84 billion in Individual Life claims, N714 million in Takaful payouts, and N1.1 billion in Esusu payouts.
The company continues to make remarkable progress, having successfully paid over N573 million in January 2023 YTD, demonstrating its reliability with evidence of excellence in claims settlement.
As stated by Mrs. Joyce Ojemudia, Managing Director and CEO of African Alliance Insurance Plc, “We understand the importance of prompt claims settlement and we remain steadfast in our resolve to deliver on our promises to our valued clients.”
African Alliance Insurance Plc a foremost life insurer and leader, has distinguished itself in the insurance sector, for its cutting-edge products, top-notch customer service, and dedication and commitment to excellence.
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Posted on: 11th Nov 2022
Foremost Life Insurer, African Alliance Insurance, has emerged as the Claims Excellence Insurance Company of the Year at the recently held Business Day’s Banks and Financial Institutions (BAFI) Awards in Lagos.
A statement by the awards Committee expressed that “The Claims Excellence Insurance Company of the Year Award is given to the life or Non-life insurance company, or broking firm, that has demonstrated unmatched leadership, as far as claim handling/facilitation, is concerned. African Alliance has matched pay-outs with a carefully executed expansion strategy to serve retail clients in geographies where the opportunity exists”.
In her remarks, Joyce Ojemudia, MD/CEO, African Alliance Insurance PLC, dedicated the award to; “Almighty God who has strengthened African Alliance to keep moving forward even after 62 years. I also dedicate this award to my Board of Directors and my amiable team for their continuous support. And finally to our devoted professionals who have continued to work tirelessly to make this process seamless. They dedicate their competent expertise, time, and abilities to the company and ultimately to our customers”.
She further restated the firm’s drive to claims excellence; “African Alliance Insurance PLC takes pride in paying genuine claims as and when due because our customers are our priority. With this award, we reaffirm our promise to our customers that we will be with them for life, as the Life insurer they can always trust”.
African Alliance has been and continues to be a major player in the Nigerian insurance industry for over sixty years, upholding values of paying genuine claims and excellent customer service. This award is proof of the company’s claims of excellence.
Posted on: 12th Oct 2022
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.
Brand, Media and Communications Manager
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.
Posted on: 8th Jul 2022
African Alliance Insurance Plc – PRESS RELEASE ON LATE FILING OF AFS AND 2022 Q1 UFS – FDC
Posted on: 28th Jun 2022
Posted on: 12th May 2022
Ojemudia gets UN POLAC Honour
The Managing Director/Chief Executive Officer of African Alliance Insurance PLC, Mrs. Joyce Ojemudia, has been honoured by the United Nations Positive Livelihood and Awards Centre (UN POLAC Foundation) as a Distinguished Woman of Peace and Honour with the conferment of its prestigious Queen Amina Heroine Award. The Distinguished Woman of Peace and Honour Awards (DWOPHA) generally honours the inspiring work of women whose encouragement, leadership, and commitment to peace stand out as beacons of strength and hope while the Queen Amina Heroine category celebrates women who have exhibited uncommon bravery and strength in the face of adversity to achieve success.
Mrs. Joyce Ojemudia is an accomplished insurance professional and astute manager of resources with over twenty years of experience in insurance sales, business development, risk management, claims administration, and reinsurance. She is an alumnus of the prestigious Lagos Business School (SMP 40) and the University of Lagos where she had her first and second degrees in Insurance and Risk Management respectively. Indeed in 2021, she was recognized by Business Day Media as one of 30 Notable Alumni of the prestigious Lagos Business School. She is also a Fellow of the National Institute of Marketing of Nigeria, and an Associate of both the Chartered Insurance Institute of Nigeria and the Institute of Chartered Economists of Nigeria.
In 2020, she was elected the President of the Professional Insurance Ladies Association (PILA), the elite body of professional women in insurance. Under her watch, the professional association successfully hosted her first-ever Africa-wide side event at the continental African Insurance Organisation (AIO) Conference during its 47th edition held in Lagos. Few months after her ascension to the PILA top position, she was appointed the Managing Director/Chief Executive Officer of African Alliance Insurance PLC, Nigeria’s foremost indigenously-owned life insurer with some 50,000 active policyholders spanning over three generations. As head honcho at the legacy insurer, Ojemudia had instituted a virile cost-saving strategy that is driving a top to bottom change within the organization while aggressively growing her market share by making viable and humane life insurance accessible to more Nigerians. Recall that last year, her shrewd management style enabled African Alliance Insurance PLC to clear years-old legacy indebtedness to the Pension Transitional Arrangement Directorate (PTAD); a move that industry watchers consider ‘bold and groundbreaking’ in all ramifications.
According to the Letter of Award signed by the Director-General, UN-POLAC, Prof Halo B. Eton, “United Nations POLAC Foundation was established as an international autonomous institution following the UN General Assembly with its aim and objective to select high profile individuals across the six geopolitical regions in Nigeria as Volunteers to propagate peacebuilding in Nigeria and assist in the implementation of UNDP programmes initiatives.” Going further, the letter informed Ojemudia that “as a Woman of Peace, you may be called upon for peacemaking, conflict resolution and other activities that encourages peace and positive living in line with international best practices.”
Brand, Media, and Communications Manager, African Alliance Insurance PLC
Posted on: 15th Mar 2022
Foremost life insurer, African Alliance Insurance PLC, has restated its commitment to stronger and better business relationships with the Nigerian Council of Registered Insurance Brokers (NCRIB).
This assurance was delivered by the MD/CEO of the company, Joyce Ojemudia, to the members of the South-South Area Committee of the NCRIB during their Members’ Evening sponsored by African Alliance Insurance PLC in Port Harcourt.
Speaking at the event, Ojemudia said: “We do not take your support for granted, knowing well your critical role in our industry as well as being our longstanding partner in progress. For every business we have gotten from you, we say thank you. But like Oliver Twist, we want more.
Wanting more for us is not just about raking in more premiums, it is also about partnering with you to grow your businesses too while bringing succour to our mutual clients as well as driving the industry’s penetration. We reiterate our unstinting commitment to making you happy; after all, we are all in the business of putting smiles on people’s faces.”
Highlighting the company’s claims profile in the ongoing business year, she said in the first two months of the year, i.e January and February 2022, the firm had already paid a total of N1.42bn in claims.
“Broken down; we paid N268.14m in Group Life claims; N248.79m in Individual Life claims; N165m in Takaful claims; Esusu took N8.77m while Annuity was N726.18m,” she said.
A major attraction at the event was the special lecture titled ‘Solutions Mindset’ was delivered by Mr Kalada Apiafi, Chairman, Wider Perspectives Limited. Apiafi emphasized the place of creativity in coming up with solutions stating that problems are always in abundance whereas very few engage in creative processes that inspire solutions. A raffle draw for all attendees where various prizes were won was the highlight of the evening.
In continuation of its Brokers Roadshow, the company has concluded plans to host Abuja Area Committee on the 24th of March. The Abuja event will include an Insurance Awareness Walk, a collaboration between the NCRIB Abuja Area Committee and African Alliance Insurance PLC.
Incorporated in 1960 to transact life businesses in Nigeria, African Alliance Insurance PLC has grown in leaps and bounds while providing succour for individuals and aiding businesses across the country for over six decades.
Posted on: 3rd Mar 2022
AFRICAN ALLIANCE INSURANCE PLC – PRESS RELEASE ON DELAY OF 2021 AFS AND 2022 Q1 UFS – APPROVED BY NGX
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