Insurance

FBN Insurance targets 1m customers in one year

First Bank of Nigeria Insurance Limited said it will be in increase its policyholders from 400,000 to 1 million in the next one year.

According to Vanguard, FBNInsurance Managing Director, Mr. Tunde Mimiko said this at a press conference.

He disclosed, “This is not about promises, we have the personnel to achieve this. We are going to use an agency system to penetrate the nooks and crannies of the country while we will rely heavily on technology to capture the millennia.

“We are expanding our frontiers to quite a number of cities and towns that we are not present, we believe that this will engender more penetration than what we have done.

“We will do this with the customers in mind which include our current and prospective customers to continue to live in confidence by creating more wealth for them and protecting their financial assets.”

On how it plans to drive retail business at the grassroots, Mimiko said the company plans to increase the number of agents from 3,000 to 5,000 before the end of 2022.

According to him having more agents who will be selling insurance products and services across the country will enhance insurance penetration and awareness, adding that the company would equally use technology to capture the millennia onto the insurance platform.

He added that in order to get to those that are underserved, the company is also using a digital platform to ensure that they expand their reach as much as possible.

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