Universal Insurance settles N3bn claims

Universal Insurance Plc has paid out a total of N3bn as claims to policyholders who suffered losses during the 2024 operating year.

In a recent statement from the underwriter, the claims were made between January 2024 and December 2024.

Speaking on the development, Managing Director/Chief Executive Officer of Universal Insurance Plc, Dr Jeff Duru, said the claims paid are a reflection of the company’s commitment to meet customers’ expectations despite challenges in the business environment.

He said the company has been driving its growth in the retail space with pocket-friendly, top-of-the-line products designed to include and satisfy low-income earners as well as artisans in various fields of endeavours.

He added that the company is fully computerised to drive excellence in service delivery, prompt claim settlements, and customer-centricity.

“Our claims management process is top-notch with a strong technology framework that ensures our customers can report their claims speedily from anywhere they are without having to come to our office,” he said.

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