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Insurance, pension operators urged to meet customers’ needs

Operators in the insurance and pension sectors have been urged to provide enhanced services to the customers and quickly resolve their complaints to ensure growth and confidence in the sectors.

This statement was made during the sixth Businesstoday conference with the theme, ‘Prioritising excellent customer services in insurance and pension businesses’ in Lagos.’

The Managing Director/Chief Executive Officer, African Alliance Insurance Plc, Mrs Joyce Ojemudia, said in today’s insurance and pensions businesses, which were businesses of promise (intangible), customer experience was critical to business performance, growth and sustainability.

Ojemudia, who was the special guest of honour said, “Maintaining trust is very fundamental to today’s business environment and a solid customer service is imperative to achieve this.

“Satisfactory customer service is vital to the existence of any business, including insurance and pensions.”

She said customers were very demanding and value-centric and there was a need for the insurance and pensions businesses to brace up and be continually dynamic in their approach in terms of quality service and value creation.

She commended the Publisher of BusinessToday, Nkechi Naeche, for her contribution to the growth of the industries.

Naeche assured of the firm’s commitment to deepening insurance and pension penetration in the country.

The Chairman, Nigerian Insurers Association, Mr Ganiyu Musa, who is also the group managing director of Cornerstone Insurance Plc, said it cost more to get a new customer than to retain an existing one.

“Operators must do all they can to retain the existing ones while getting new ones. It is important for operators to deliver a value that has to be perceived as accepted by the customer.”

Managing Director, Access Pension Fund Custodian Limited, Mrs Idu Okwuosa- Okeahialam, noted that the operators were selling two difficult products which showed that they needed to do more to please the customers.

While making his presentation, the Chief Consultant of B. Adedipe Associates Limited, Dr. Biodun Adedipe, said excellent customer service was fundamental to every organisation, public or private, profit-seeking or not-for-profit.

He said, “You must be able to answer in clear terms the questions of what is most important to different customer categories?

“How can we deliver repeatedly beyond the expectations of those customers?

“Can we build our entire strategy, systems and operations around the customer.”

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