Wapic Insurance Plc has announced the re-introduction of its motor insurance product suite while its Life subsidiary, Wapic Life Assurance Limited announced its revamped Group Life insurance product. At the Launch of the products in Lagos, the company said that its motor insurance suite has been rebranded and is now called “Moov” while the Group Life Policy has been re-designed to address critical consumer needsbut keeping them adequately protected against the financial impact of life’s risks whilst in employment.
The motor insurance product in its new form has been designed to meet the yearnings of customers for budget and life style flexibility. An integral feature of the new product is the fact that the consumers can custom-create their motor insurance cover. The motor product comes in four variants, which are the basic Moov to cover third party motor insurance; Moov Plus for third party, fire and theft; Moov Prestige to cover basic comprehensive insurance while Moov Luxury is the maximum motor cover available.
Within each option, there is a menu of covers from which customers can make a choice based on their needs and budget. Each cover is priced separately while the customer can work out the cost using the online calculator provided. The Company has also made the product more accessible for the insuring public as there are now various product purchase channels available to consumers.
Group Life Insurance is a compulsory class of cover for all employers with three or more employees. With this in mind, the Life business, Wapic Life Assurance Limited, had similarly revamped this product to meet the needs of employers through simplified documentation, seamless payment process and enjoyable claim settlement for the benefit of their employees.
Speaking at the launch, Mr. Niyi Onifade, Managing Director, Wapic Life Assurance Ltd stated that “Group Life Insurance as prescribed by law has now been simplified for the benefit of employers of labour, clubs, associations, unions, religious groups, cooperatives and social organisations who exist as a group such that the purchase of the product is enjoyable and can be done with ease. This was our commitment and we have fulfilled this today”
Deputy Group Managing Director, Mr. Bode Ojeniyi stated that “With the roll out of Moov and Group Life, Wapic Insurance is on course to meeting its goal of delivering customer-relevant solution in both the life and non-life segments. While the insuring public can now enjoy affordable and flexible insurance solutions to cover their vehicles and life, we assure you that more solutions will follow shortly.”