In its plans to avail its numerous customers the best underwriting and claims experience, Access Bank Plc has entered into a partnership with Coronation Insurance Plc to drive an efficient and effective Bancassurance system.

The partnership was introduced to the Corporate Clients of Access Bank during an earlier organized webinar themed, “Managing Risks that Keep CEOs up at Night,” held on October 7, 2020.

In explaining the choice of Coronation Insurance Plc from a pool of other insurance firms in Nigeria, the CEO/GMD of Access Bank, Hebert Wigwe, explained that apart from the close ties the bank has with the insurance firm, it considered some other important criteria, such as the financial strength/capitalization and underwriter speed of response to customers. According to Wigwe, Coronation Insurance satisfied all the required criteria, part of which informed the decision to establish this relationship which is perceived as a transformational partnership.

On why Coronation Insurance was picked as its partner, Mr Wigwe said: “In choosing among a pool of potential organizations to fill this gap, we have had to look at a couple of identifiers, with the first among them being underwriter speed of response to customers and the second is the financial strength and the capitalization base of the underwriter.

“Given all these, and with the interest of its customers at heart, Access Bank considered all of these qualities and found coronation to be leading between the various categories. We want our customers to have the best underwriting and claims experiences.”

Also, the Chairman of Coronation Insurance, Mutiu Sunmonu, commended the partnership. He said: “The Partnership will elevate the level at which Insurance Services are delivered to Corporate Customers in the Country, matching the level of growth recorded in the Banking sector over the last two decades, only over a shorter period”

A selection of distinguished keynote speakers from prestigious institutions with expert knowledge was invited to deliver presentations and share their insights on the topic of managing business risks.

Bode Augusto, founding MD of Augusto & CO shared detailed insights with respect to macroeconomic and project completion risks. Simon Morris, Partner of Trinity International (UK) went further in elaborating on macroeconomic risks that impact businesses and how to mitigate these risks while Nico Conradie, the MD of Munich Re Africa (South Africa) gave very practical guidance and advice on how CEO’s can safeguard their organisation from cyber risks and fraud.

According to Yinka Adekoya, CEO/MD of Coronation Insurance, we are pleased to have commenced this partnership with Access Bank and the webinar event is one of the initiatives we have outlined for customer engagements. We are looking forward to more customer engagements”.