To meet different needs of its numerous customers, Oasis Insurance Plc has introduced three new products into the insurance market.Â Oasis Supreme Motor Insurance (OSMI), Tots to Teens Insurance Cover (TTIC) and Micro Insurance Personal Accident Cover (MIPAC) are targeted are specific markets.
Oasis Supreme Motor Insurance (OSMI) is an enhanced comprehensive motor policy which provides cover with trackers, tyre sealants, AA rescue facilities and replacement car with driver. Traditional motor policy cover only meets the regular compensation that is designed to replace or repair.
On the other hand; Tots to Teens Insurance Cover (TTIC) is targeted at the children below twenty years of age and basically designed as a personal accident policy for kids covering permanent injury and medical expenses whilst Micro Insurance Personal Accident Cover (MIPAC) is designed to cover death, permanent disability, medical and funeral expenses as a result of accident and it is available at a very affordable premium.
Mr. Babatunde Oshadiya, Managing Director of the company in a press release to Vanguard said that the introduction of the new products evidently demonstrates Oasis Insuranceâ€™s commitment to contribute immensely to the growth and development of insurance industry while working towards positioning the company among the best ten in Nigeria.
Oshadiya who was optimistic in spite of the lull in economy globally and barring all other circumstances, the company would surpass its performance in the year past by ensuring that all machineries for excellence are in place for quality and efficient service delivery to our clients.
He hinged his hopefulness on the fact that the insurance market in the country is big enough for every creative players to act in a proactive manner for successful turnout adding that the market is ever-growing and with population of over 140 million, every individual will definitely find and buy into insurance products that suit their needs.
He affirmed that the year is very promising for the industry and the company, he said, â€œFor us at Oasis Insurance we are prepared to meet with the challenges ahead and one of such thing we have done to stay afloat is the upgrading of our information and communication Technology (ICT). Customers can now log on to our website to transact their insurance businesses, fill claim form while other necessary thing is being perfected on paper for more efficient service deliveryâ€.
He said that prompt claim settlement of the company has been an edge over the years thus assuring that the company would not renege on it and would always ensure that the companyâ€s teeming clients are paid their claim as at when due.
However, Mr. Olatunde Balogun, General Manager, Marketing, said the target is to drive retail insurance businesses in the country, the products are very affordable in term of premium with high benefit compensations.â€ We are out to satisfy the need of our customers across all segments and we will continue to ensure that insurance products and services are available and affordable to the common man on the streetâ€.
According to Mr. Olatunde Balogun, apart from these new products, the company will also give cover on the compulsory insurance policies newly introduced by the federal government to protect and give safety to people. These are builderâ€s liability, healthcare professional indemnity insurance and occupierâ€s liability (public building) insurance.