Sovereign Trust Insurance PLC, a leading company providing insurance services of global standards, and VTNetwork (VTN), one of Nigeria’s leading mobile payment operators, today launched initial services which focus on accessible insurance policies.
Peter Ojo, Chief Executive Officer, VTN, spoke of a collaboration of innovators. “Sovereign Trust Insurance is a market leader.” This is a world–class opportunity to for the first time, offer expansive accessible insurance services across the nation. These products will improve the average person’s living standard and their ability to withstand financial shocks.”
Lekan Oguntunde, AGM/Head Information Technology and Strategy said that STIPLC had recently launched its e-business platform for real time online transaction of insurance business and that the partnership with VTN ensures that insurance services are readily available as a result of their seamless purchase.
Ojo said, “We mobile payment operators are there to provide enabling platforms that accelerate service adoption nationwide, and we are very happy that this very key segment of the economy, the insurance sector, are beginning to recognize the inherent value and are leveraging on mobile money.
VTN customers can access a range of STIPLC’s insurance services, and both companies are collaborating on developing micro and more affordable policies that will be introduced to the public on the approval of the regulatory authority.
Lanre Ojuola, AGM/Head, Business Development Department added that this partnership fits STIPLC’s desire to drive innovation in Nigeria’s competitive insurance sector. “Our customers can get quotes, report claims and purchase insurance online without leaving the comfort of their homes or offices.,” said Ojuola. Oguntunde reinforced that the VTNetwork-STIPLC partnership is to further increase the sales of insurance services online while also proffering convenience to valuable customers.
Ojo added, “We are thankful to Wale Onaolapo, Lekan Oguntunde, Lanre Ojuola and the numerous integration team members. Mr. Onaolapo was named Insurance Man of the Year for 2013 and his leadership is what made this partnership possible. It is great to be collaborating on new exciting insurance services with the market leader and innovator. These new integrated offerings will produce profitable lines of business AND greater economic prosperity at all levels for all our citizens and residents.”
