Prudential Zenith Life Insurance has launched a payment service which allows mobile phone customers in Nigeria to buy protection policies wherever they are.
According to a statement, customers who dial *5966# on their mobile phones will be able to purchase a life insurance or hospital cash plan policy in a matter of minutes.
Speaking at the launch of the product at the Civic Centre, Victoria Island, Lagos on Wednesday, March 18, 2020, the Chairman of Prudential Zenith Life, Mr Jim Ovia (CON), said โWe are pleased to announce this exciting and innovative initiative that will democratize access to insurance for all Nigerians. We are strongly committed to deepening financial inclusionโ.
On his part, the Chief Executive Officer of Prudential Africa, Matt Lilley said:โWe launched Prudential Zenith Life in 2017 to help minimize uncertainty from the lives of Nigerians. I believe that this service will make it easier for people to access life insurance cover that gives them and their families financial peace of mind, if an accident or the worst were to happen.โ
Research shows that Nigerians are significantly underinsured despite the adoption of mobile phones for insurance purchase in several parts of the world. Only one per cent of Nigerians have insurance whilst more than 95 per cent of the population have mobile phones. Prudential Zenith Life seeks to increase the number of families that have financial protection by making it convenient to purchase insurance on their mobile phones.
Prudential Zenith Life Insurance Limited is part of Prudential Plc, one of the oldest and most strongly capitalised life insurance companies in the world. It provides a range of insurance and investment-linked savings products designed to suit corporate and individual customersโ budgets.
Prudential Zenith Life seeks to remove uncertainty from lifeโs big events, providing customers with the freedom to confront the future with greater confidence. It is equally committed to meeting the long-term savings and protection needs of families and businesses in Nigeria. Whether someone is starting a family, saving for a childโs education or planning for old age, Prudential Zenith Life provides customers with financial peace of mind.