Anchor Insurance unveils app, enhanced third party motor insurance

By Rosemary Iwunze

Anchor Insurance Company Limited has unveiled two significant innovations: the Enhanced Third-Party Motor Insurance Policy and the Anchor Insurance App.

Speaking during the launch at the company’s head office in Lagos, Managing Director/Chief Executive Officer of the company, Mr. Ebose Augustine stated that the move is part of the company’s continuing transformation into a more accessible, responsive, technology-driven and customer-focused insurance organisation.

Augustine said: “At Anchor Insurance, we have consistently upheld a simple but powerful promise: we are where insurance works. We demonstrate this through responsible risk management, reliable service delivery and our commitment to the prompt settlement of genuine claims. Today, we are taking that promise a step further by bringing insurance closer to the customer through product innovation and digital technology.”

Explaining the enhanced third-party motor insurance policy, Augustine stated: “This product was born out of a simple but important observation: millions of motorists want more protection than the standard Third-Party Motor Insurance provides, yet many are unable or unwilling to commit to the higher cost of Comprehensive Motor Insurance. For years, motorists have faced a difficult choice. They could purchase basic Third-Party Motor Insurance to satisfy legal requirements and remain largely unprotected against damage to their own vehicles or they could purchase Comprehensive Motor Insurance at a significantly higher cost.

“At Anchor Insurance, we asked ourselves a critical question: Why should motorists have to choose between affordability and meaningful protection? Our answer is the product we are launching today. The Anchor Enhanced Third-Party Motor Insurance Policy bridges the gap between traditional Third-Party Motor Insurance and Comprehensive Insurance by delivering practical protection at a price that remains within the reach for individuals, families, institutions and small businesses. It is an innovative solution that offers customers greater confidence on the road without placing unnecessary pressure on their finances.”

Speaking on the anchor insurance app, Augustine said: “We are proud to introduce the Anchor Insurance App, a digital platform designed to bring essential insurance services directly to the smartphones of our customers and brokers, allowing them to interact with Anchor Insurance anytime and from anywhere.

“The App is built around two major functions: Policy/purchase Management and Claims Management. Through policy/purchase management, the App simplifies fresh purchase of insurance for retail customers. It reduces the traditional dependence on paperwork by enabling digital data capture and providing a convenient process for selecting eligible products, making payments through supported digital channels and receiving insurance documentation electronically within a few minutes, subject to the required verification and underwriting processes.

“Through Claims Management, customers can submit claims, upload supporting documents and monitor the progress of their claims through the various stages of processing. This is particularly important because the true test of an insurer’s promise often comes at the point of a claim. We, therefore, want our customers to have greater visibility and confidence in the claims process.

“Our objective is simple: to make insurance easier to understand, easier to buy and easier to manage. The Anchor App is our promise of a more connected Anchor, a more accessible Anchor and above all, a better Anchor experience for our customers.”