Allianz Nigeria settles Motor claims in 60 minutes

Allianz Nigeria Motor claims

Allianz Nigeria, local operating entity of global insurance giant, Allianz has again strengthened its position as a game changer in the Nigeria insurance industry. The company has disclosed that since July 2019, it has been settling retail motor insurance claims in 60 minutes on the average.

Group Head, Retail Operations & Client Services Tunji Oshiyoye highlighted that retail claims team had successfully paid all claims of N150, 000 and below to customers in less than 24 hours. Settlement of small ticket retail claims have been fully optimized as the company processed a total of 312 claims within an average period of 3 hours and 55 minutes. This number represents all retail motor claims reported to the company with individual pay-outs of N150, 000 and below. In total, the sum of N 17,565,988.78 was paid out to settle 312 claims in the last four months.

“We are committed to improving our processes and setting a new standard that represents global best practices in retail insurance delivery’’, Tunji added.

“Allianz recently emerged as the number 1 insurer in the world following the 2019 Interbrand Best Global Brands Ranking”, enthused Walter Bossman, Chief Communication and Strategy Officer at Allianz Nigeria. “This is a serious responsibility”, Walter continued. “We are determined to continue to optimize our service delivery to prove worthy of this enviable position”, concluded Walter.

The Allianz Group is one of the world's leading insurers and asset managers with more than 92 million retail and corporate customers. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing around 764 billion euros on behalf of its insurance customers. Furthermore, their asset managers PIMCO and Allianz Global Investors manage more than 1.6 trillion euros of third-party assets. Thanks to our systematic integration of ecological and social criteria in their business processes and investment decisions, Allianz holds the leading position for insurers in the Dow Jones Sustainability Index. In 2018, over 142,000 employees in more than 80 countries achieved total revenues of 132 billion euros and an operating profit of 11.5 billion euros for the Group.