FBN Life Assurance Limited, a subsidiary of FBN Holdings Plc, has said it is making its innovative products more accessible to members of the public.
In a statement on Friday, the firm said it had introduced three major retail products; include First Life Benefit Plan, First Life Plus Benefit Plan and First Family Shield, which give benefits to policyholders.
The firm said it had developed a bancassurance partnership with First Bank Limited, which allows it to market its products through the 700 branches of the bank.
The Managing Director, FBN Life, Mr. Val Ojumah, said this was part of its goal to become the biggest retail insurer in the country.
"In this partnership, we intend to deliver sustainable benefits by providing comprehensive insurance solutions to the bank's customer base and, as a consequence, positioning FBN Life as a market leader in retail insurance in the country," he said.
Ojumah said FBN Life was exploring more distribution partnerships to facilitate wider coverage for customers at their preferred points of sale.
He added that the firm was engaging multiple partners, including microfinance banks, mobile network operators and other commercial banks to expand its coverage.
The platforms, Ojumah stated, would provide the bank's customers a range of financial products from a single point of contact, convenient access to hassle-free and seamless insurance, and lower premiums as a benefit of being First Bank customers.
"We are building the biggest retail insurance company in Nigeria by developing alternative channels and delivering innovative products to the customer, thus making insurance products accessible across all market segments and distribution channels," he said.
