STACO REITERATES COMMITMENT TO MEETING CUSTOMERS’ NEEDSInsurance as a strategic mechanism for business sustenance and asset protection can only become a reality and concrete when genuine Claims are made and paid.

The Management of STACO Insurance Plc being, one of the leading Underwriting Firms in Nigeria with specialization in general Insurance and special risks has once again sustains the momentum of Claims payment.

This is evident in the payment of total claims of over N1.6 billion in the 2018 operating year.

The claims payments were made across all classes of general Insurance business with Fire Insurance gulping the largest chunk of over N528.97 million claims. This is closely followed by Motor Insurance claim of over N392.91 million while Oil and Gas got over N348.35 million as claim payment amongst other classes of business.

The Management has reiterated that the focal corporate strategy of the company in 2019 is to meet the needs of the insuring public as part of our value proposition and offering of beneficial Insurance products to fill in the already identified gaps with commitment to settlement of claims promptly.

To this end, the company has paid over N628 million claims as at half year 2019 to numerous customers.

The Acting Managing Director Mr. Bayo Fakorede, while speaking to The, said “we are poised and prepared to reassure all customers that prompt attention is given to all genuine claims”, adding that “we are very much in business and have built capacity to continually meet our customer’s obligations in terms of offering quality products and prompt claims settlement.”

Mr. Fakorede equally assured all stakeholders that STACO will continue to remain a reputable brand noted for exceptional and efficient customer service delivery and professional underwriting capacity.

To underscore this, the Acting Managing Director stated that Management has re-affirmed its commitment to initiate a system whereby the brand remains a paramount player in the industry.

He also noted that the company remains focused towards being a socially responsible organization towards all stakeholders.

Mr. Fakorede said the need to have more personalized products has necessitated the re-introduction of three customized Insurance products targeted at persons from all works of life.

The products are STACO Travel Insurance which covers any traveler both locally and internationally, STACO Home Owners Insurance Policy which is for every tenant and home owners and STACO Personal Protection Plan with annual premium as low as N200 shows that the policy is targeted at all and sundry.

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