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Equity Assurance out with mobile USSD insurance

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  • game-changing product to transform Nigeria’s motor insurance market

Equity Assurance Plc., a member of SUNU Group, a leading Insurance Group that operates in 14 countries in Africa, announces the launch of its innovative mobile (USSD) Insurance solution.

It is a simple,  ‘first of its kind’ self-service solution which  enables  car owners  /  users  to  purchase authentic  3rd  party  Auto Insurance with the use of their mobile phones in less than 5minutes.

This mobile (USSD) application also serves as a platform for customer engagement, claims payment and other after-purchase services.

The company’s decision to develop this ground-breaking mobile insurance solution is aimed at ensuring excellent customer experience at all times for its existing and prospective customers at affordable cost.

In addition, it guarantees customer convenience, easy & secure access, real-time interaction and speedy service.

The Managing Director of Equity Assurance Plc., Mr. Moruf Apampa, shares that the application will be available to all customers, regardless of their GSM network or type of phone they use, whether they have internet access or not, effective 10th December 2017.

Furthermore, Demo& animated illustrations can be viewed by prospective customers and general public on the firm’s website in order to better understand how to purchase/use the product as well as its different service features and functionalities.

In response to a question regarding the Company’s decision to go the digital route, Mr Apampa, who took over the reins of Equity Assurance in December 2016, went on further to explain the firm’s strategic decision to deploy low-cost digital/mobile technologies as a means to overcoming longstanding industry challenges while effective and affordable insurance solutions to Nigerians, regardless of their location or economic/social status.

He further shared that, “The firm has witnessed a surge in purchase of its insurance products since testing the application with a few selected customers, garnering a lot of very positive feedback from the customers and organizations that are looking to partner. I can confidently say that Equity Assurance Plc is on the verge of revolutionizing the insurance marketplace in Africa within the next few years.”

Mr Apampa, who until last year was at AIICO Insurance as General Manager – a role he played successfully with exemplary leadership and proficiency – has deep understanding of consumer behavior and the power of digital technologies.

He has garnered over 24years experience in the Insurance industry. Since joining the Equity Assurance family in 2016, the firm has recorded significant wins in product innovations, customer satisfaction, growth &value creation.

Equity Assurance Plc., a member of SUNU Group has the vision to be a Leading African Insurance Company.

It is on a mission to be an insurance company recognized for excellent client services, using cutting edge technology, motivated workforce and good business ethics to meet stakeholders expectations.

This will be driven by innovative in service delivery, products development, cost management, customers experience and ensuring proper balance in all dealings. Equity Assurance preserves and multiplies value of shareholders and ultimately maintain a consistent dividend payment policy.

Equity Assurance was incorporated on December 13, 1984 and was licensed to underwrite all classes of general business. The company operates with a recently increased authorized share capital of N7 billion and shareholders fund of about N5.1 billion.

The company is a corporate member of the West African Insurance Company Association (WAICA) and the Nigeria Insurers’ Association (NIA), the official umbrella of registered insurance companies in Nigeria, as well as The Africa Insurance Organisation (AIO).

Equity Assurance Plc is the parent company of Equity Assurance Limited, a Ghanaian subsidiary that started operations in Ghana in 2008.