LEADWAY Assurance Company Limited has signed Memorandum of Understanding with Total Nigeria Plc, a leading major marketer of refined petroleum products and services in Nigeria to deepen insurance penetration in the country.
The Memorandum of Understanding signed in Lagos, by the Executive Director General Business, Leadway Assurance, Ms Adetola Adegbayi who represented the Managing Director/CEO, Oye Hassan-Odukale and Territorial Sales Manager (North), Total Nigeria Plc- Muftau Balogun representing the Managing Director Total Nigeria Plc, Jean-Philippe Torres, allows for Leadway’s insurance products and services to be made available in some designated Total Service stations across the country.
In the first phase of this initiative, Leadway’s easy-to-use 3rd Party Motor Vehicle insurance recharge cards will go on sale at the designated outlets nationwide. Subsequently, these stations will not only be used as pick up centers for Leadway Assurance products, they will thereafter serve as collation centers for all insurance related issues such as claims processing.
Commenting on the partnership, Oye Hassan-Odukale, said, “as an innovation-driven market leader in the Nigeria’s leading insurance industry, we are constantly seeking ways to make insurance products and services nearer, easily accessible and more convenient for our customers. We have developed our online infrastructure to provide real-time, online access and interaction for our clients.
“The partnership with Total reinforces that quest to further take insurance closer to Nigerians, whilst affirming our commitment to superior service delivery. Indeed, with this partnership, our customers, who are also consumers of TOTAL’s array of products and services would reduce their commuting time and cost to procure high value insurance products such as the motor insurance, at a single location.”
The Nigerian insurance industry has been characterized by low market penetration and adoption resulting in the industry contributing less than one per cent to the nation’s Gross Domestic Product (GDP). This Total/Leadway partnership encourages better accessibility, proximity and ease of business. Consequently, reinforcing standards and fostering more trust in the Nigerian Insurance Industry as a whole and positioning Leadway Assurance as a reliable insurer.
Leadway Assurance is leveraging on Total’s wide retail network to reach out to motorists in particular and many more customers in remote areas where Total service stations are located, thereby bringing insurance closer to customers no matter their location.
Also commenting, Jean-Philippe Torres, said: “We are proud of the partnership with Leadway Assurance, a dynamic organisation, who shares our values of integrity, innovation, and superior service delivery. This is an association of caring brands.
“With this partnership, our outlets will become the first in our industry to have insurance products and services offered at the convenience of our customers from our service stations. We have continued to expand our service operations beyond selling petroleum products by diversifying our activities to include other value offerings for customers such as bonjour for groceries shopping , Total Wash for car cleaning as well as Total Service for car repairs and maintenance. This partnership further illustrates Total service stations as Nigeria’s leading one-stop service stations for everything that enriches the lives of our dear customers.”

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