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Oasis Insurance pays N494.5m claims

By on March 18, 2013

Oasis Insurance Plc has disclosed that it settled N494.5m claims in various classes of insurance last year.

The company incurred claims to the tune of N494, 576,954.95 in motor, fire, marine, engineering and general accident insurance.

According its the Managing Director, Mr. Babatunde Oshadiya, the company would continue to discharge its duties to the insuring public and not relent in its singular most important culture of prompt claims settlement.

“For the year 2012, the company settled claims worth over N494million and the analysis of the claims paid shows that N110, 486,729.20 was paid in motor insurance while general accident gulped N154, 135,016.79. Under the fire class, N135, 706,209.22 was paid, while N29, 228,965.47 and N23, 747,134.41 were paid in engineering and marine insurance respectively. The company also paid N41, 272,899.86 under Aviation and Oil & Gas,” he explained.

Oshadiya asserted that Oasis Insurance would match excellent service with prompt claims settlement to meet the expectations of the insuring public and as well gain total acceptance for all the company’s products.

In a related development, the Marketing Director, Mr. Olatunde Balogun, said that the company had set in motion strategies to move the company forward and record extra-ordinary success in term of profit in the coming years.

He further averred that all necessary resources would be devoted to the marketing function in its pursuit of premium growth, while not neglecting the business operations in the delivery of effective underwriting and claims management.

Balogun stressed that in the last 20 years, Oasis Insurance had successfully met up with its contractual obligations to its teeming customers and the insuring public. He added that the company was poised to remain focused on its distribution channels to meet customers’ needs innovatively and efficiently.

He, therefore, assured all stakeholders of openness, fairness, diligence and excellence service delivery at all times. “We are determined to satisfy the needs of our customers across all segments of the economy and we will continue to ensure that insurance products and services are available and affordable to everyone.”

 

( Guardian)